We are ALL very ignorant when dealing with this Company Van. I suspect it is the Company's direction with the blessings of the TSX.

When's the last time you ever heard of a three year dividend waiting to occur. Now we have a one year holding period for a total of 4 years!

And as Crusty just mentioned, this holding period of one year is per tranche. So when we get the last tranche of shares, whens that? Another three or four more years from now, before you actually get all the shares you were suppose to get.

To be fair you can bet that if all the shares promised were delivered all at once the berage of selling would kill the stock price. Even the directors share options (at a fraction of a penny) may not even be worth anything either.