US dollars (rounded)
I use the term wallet not to imply they are filling theirs (I do not believe they are) but the corporate wallet to make acquisitions, and if needed, to raise cash. Their management of personal options/warrants has been judicious.
20%. ---- 43,400,000 shares X .69 per share = $30,000,000 (wallet)
15% ----32,500,000 shares X .92 per share = $30,000,000 (wallet)
Use of raw numbers of warrants/options is arbitrary but significant. As can be seen here, based on current US share price, a move from 69 cents per share to 92 cents per share gives them the same wallet.
Now, if they want more money to spend as needed, which of these options aligns them most with their investors, increasing the dilution, or increasing the value of our shares?
Frankly, this is an overly emotionalized argument, neither will break the bank, I feel personally that they have demonstrated an indifference to the share price, immersed as they are in execution. They have pretty much stated as much.
While I believe this is great for us in the long run, enough "no" votes sends the message that we care that the share price has fallen by more than 40% since Suresh took control, and that by raising shareholder value they increase their wallet as well.
