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Politics : Gold and Silver Stocks and Related Commentary

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To: Claude Cormier who wrote (14304)6/15/2005 7:04:54 PM
From: orkrious  Read Replies (1) of 18308
 
Claude, I was just reviewing the ANO.to proxy materials.

As a matter of practice, I virtually always vote against option plans. Management always grants way too many options at the expense of shareholders. My vote normally doesn't matter, but it's a matter of principle.

In 2003 ANO approved an option plan which diluted shareholders by 12%. Now they want another plan since there aren't enough options left ungranted.

The only thing which gives me pause is the new option plan is dilutive by "only" 3%.

Do you have any thoughts on this?

tia
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