Carbonballs: Farage’s share options terminated with carbon offsetting firm Dutch Green Business Group
Once a year, for the past three years, REDD-Monitor has written about Nigel Farage. I’ve done so on the same day each year: April Fools Day. I hope this will be the last time.
In 2021, Farage joined he advisory board of a company called Dutch Green Business Group N.V. The company buys and sells carbon offsets. Dutch Green Business Group made claims that it was planting trees at the projects it was buying carbon offsets from, when in fact it was just buying carbon offsets - in order to sell them at a profit.
You can read more about this flaky company and Farage the Fool’s involvement in it here:
In 2022, REDD-Monitor wrote about the one million share options that Farage had been given at a general meeting of Dutch Green Business Group’s shareholders. If the price of the shares reached €20, Farage would be allowed to buy the shares for €1.50 each.
Greenpeace’s Unearthed reported that Farage could make €18.5 million on the deal.
Meanwhile Farage opposes the UK government’s plans to reach “net zero” by 2050 - not because net zero is not zero, but because “net zero is net stupid”.
In February 2023, REDD-Monitor reported on how Dutch Green Business Group was deliberately confusing the price of carbon offsets with the price of carbon allowances, in an attempt to mislead investors.
Last week, Dutch Green Business Group put out a press release that explains that the company “terminates the share option rights in DGB for a former advisor to the Group”.
“On 15 September 2021, the Annual General Meeting of shareholders approved the DGB Share Option Scheme 2021 (¨Option Scheme¨) and the grant of share options to Mr Farage. As part of his remuneration, the former member of the advisory board received one million call options with a strike price of €1,40, which could be exercised into ordinary DGB shares the moment the share price would hit €20.
“In October 2021, the position of the advisor was suspended. Mr Farage has since not played an active role in the Company, nor is there any current relationship. Since the agreement has been terminated, the share options rights have lapsed.”
It’s worth pointing out, I think, that there is next to no chance of Dutch Green Business Group’s shares reaching €20 any time soon. The share price is currently €0.78 and has been below €3 since December 2015: