Iced, WOXOF explained this pretty well. Like he mentioned, the prices are set at approx the closing price the day they are announced. The same price any of us can buy shares @ that time. Obviously their benefit is they have a 2 year window to react. But, if history repeats itself, we're all smiling!

In the circular from the AGM (Nov 2010), they still have options coming due from now till April 2012, from .15, .30, .50, & .90 cents

Seems like an awesome deal now, but ya it is incentice, and ya we all could have bought at that price at that time.

So, I truly believe history will repeat, and this $2.01 price will look as cheap, or much cheaper, than the .15 etc cents numbers from above. (IMO)