FinalStretch63, as I understand the L share idea, current shareholders would all be eligible to receive warrants that could be converted into shares after some vesting period. The authors said that there's nothing 'magical' about a 2 or 3 year period, it could be anything the company chooses - 6 months, 1 year but the clock starts when the warrants are issued. Which is only potential bad news for certain people who have early "exit plans" since the shares have to be held "continuously" during the vesting period.

Probably not likely that we'll see this type of thing but if anyone's considering doing something like that I believe it would be GC. Kinda fun trying to guess what he's planning to do next.

Churbz, did you finally get your coffee this morning, all settled now? Shoot first, aim second...