Re: New Stock Options
in response to
by
posted on
Jun 30, 2009 07:09PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
The options were never supposed to be issued at the AGM. The vote was on whether to allow the company to issue options.
So did they vote or not? This is the question.
I assumed that you already knew the answer since you said you listened to the broadcast. A vote was taken at the agm and it passed. This yes vote allows the company to issue a new set of options as outlined in the material sent to all shareholders. You mentioned you are a long time holder so you must have received the material.
I disagree. The options will be set by market rules governing the price that day they are issued.
Are you positively sure about this?
Yes I am pretty sure. The company will usually set the price at fair market value on the day it is issued. If the stock is .25 the option will be set at .25. Sometimes companies set the price actually higher that the price of the day.
This doesn't make sense to me at all. They already have all the clarity they need. I believe it is common place for the BOD to hold a meeting after the AGM. The issue of options would have been discussed there and the decision on how many and at what price has probably already been made. I can't be sure but I think options have to be reported no later than 10 days after they have been issued. It might be 2 weeks but no later than that.
Your still not sure either. This is why KRYER asked whether the options were priced.
So nobody really knows and you don't either. Until then we wait.