SeaDragon

[Apathy]

Interesting incentive scheme - set the option exercise below current market price? Get rewarded for not making it worse? https://www.nzx.com/companies/SEA/announcements/286238

[winner69]

Interesting incentive scheme - set the option exercise below current market price? Get rewarded for not making it worse? https://www.nzx.com/companies/SEA/announcements/286238

Did i see exercise price is $0.0102?

And zillions of them as well

But these days you need to reward execs for doing a hard days work

[stoploss]

Interesting incentive scheme - set the option exercise below current market price? Get rewarded for not making it worse? https://www.nzx.com/companies/SEA/announcements/286238

Plenty of those about check out HIT.AX issuing options at 22 cents , current share price 48 , been as high as 60 in the past year ...Meant to be an "employee share incentive plan " absolutely no incentive when they are already so far in the money .

[Baa_Baa]

Plenty of those about check out HIT.AX issuing options at 22 cents , current share price 48 , been as high as 60 in the past year ...Meant to be an "employee share incentive plan " absolutely no incentive when they are already so far in the money .

Consider it a 'bonus' incentive to not leave the company, someone has to take it to the next stage, run it, make it profitable. New guy from Comvita might need some encouraging as well, not sure if he benefits directly but good to see the shareholders largess sprinkled on those who are being paid to make this company a success.

[ari]

Just received Annual report by mail, thought I had requested all via email...... have now. Apologies other holders, must be a huge expense with nice glossy covers and quality paper. Just doing my bit.....may be a bit too late!

[Balance]

Just received Annual report by mail, thought I had requested all via email...... have now. Apologies other holders, must be a huge expense with nice glossy covers and quality paper. Just doing my bit.....may be a bit too late!

Cannot sell the content, sell the gloss!

[ari]

Capable of processing 5000 tonnes per year .......? Annual report says "company has agreements in place for supply of 700 tonnes of unrefined tuna oil per annum....."

So what is the true yield? This really is a cot case!

[Scooter]

SeaDragon plans 1:2 pro-rata renounceable rights offer
SeaDragon Limited (NZX:SEA) today announces an intention to raise a minimum of $0.25
million through a pro-rata renounceable rights offer to all existing shareholders.
The new capital is in addition to the $3 million convertible loan note facility recently
entered into with Comvita and that is the subject of a shareholder vote at the upcoming
AGM.
SeaDragon Chairman Colin Groves said: “As shareholders are aware, SeaDragon is
undertaking a staged exit from the Omega-2 market and focusing on the considerable
opportunities it sees in the Omega-3 market. As previously announced on 30 June 2016,
the company has been considering capital raising options and has decided to initiate a
rights offer to shareholders to provide additional capital to facilitate growth and meet
working capital needs.”
The final terms of a potential rights offer remain to be confirmed but at this stage the
board currently expects the offer will be a 1-for-2 pro-rata renounceable rights offer with
an issue price of $0.008 per share (representing a 38.5% discount to SeaDragon’s closing
price as at 10 August 2016). This is the same price as the conversion price under the
convertible loan note agreement with Comvita.
By undertaking a 1:2 pro-rata renounceable rights offer, SeaDragon would be offering
shareholders the ability to subscribe for one new share for every two shares they hold as
of the record date (yet to be set).
SeaDragon will announce further information once details have been finalised.
For further information contact:
Colin Groves
Chairman
Tel:

[Scooter]

WTF, there is no end to it

[ari]

Talk about dilution, next they will be adding water to the oil.......