MAE 0.00% 0.0¢ marion energy limited

how do we issue directors options to progress

  1. 762 Posts.
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    With all the conjecture that Directors are holding off flow rate announcements in order to manipulate the issue of options to themselves, I think as SH we need to rethink our own investment strategy. Over the last 12 months we have seen the share price of Mae collapse with every 6 mths or less the Directors going cap in hand to bank etc to seek additional funds. As a non-producing gas company (taking that we have great untapped resources in the ground)we were savaged by the GFC and have paid dearly for our directors strategy not to start producing earlier and for spending money as if there was no tomorrow. We indeed lost the interest of takeover companies attracted by GC and are now spending a lot more money and time in recompleting those wells already drilled. Jay Jnr will hopefully bring the wells into production but the time this takes is still a major problem to long term SH whilst day traders and new significant investors reap the rewards.

    I, therefore, resolve biting the bullet and suggest we give the Directors what they want, i.e., a total, to be divided amongst them as they see fit, of 6,000,000 options at say 15 cents each expiring at end of 2011. Remember they have already agreed to buy shares at 23cents from the $1m that was supposed to go to them as a bonus when they achieved 3mccfpd, so they will collectively have a reasonably sound interest in the company to see it move forward.

    The conjecture/rumor also indicates that Jay Stratton has been offered 6m options to come on the financial benefits to directors and senior staff members would be in place.

    Should this occur this will encourage better relations between smaller long term shareholders and Directors who will have no excuse not to release all information to the market. My thoughts only....would like to see other poster's opinions or ideas on this proposal. REgards, Bernie

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