a question

I have been having a look at AZG and generally looks interesting, although it does have a bit of the "if it's too good to be true..." about it.

One question I have is from page 17 of the June EGM pdf, where they show the Allmine Performance Rights plan. I am wondering if anyone here is certain as to how to read that table?

As I read it, in each of the years 2013 - 2015, if the NPAT is greater than $15.5m, then they issue $10.26m to Senior Managers as part of the performance rights plan (as shares?). Is that correct?

Also, does anyone know how this would be accounted for? If it is after stated NPAT, then it seems like quite a large potential cost, although if it is share-based, it may become less significant as market cap increases.

I note there is also a commitment to issue shares to the CEO based on market-cap. To my mind, in a company growing by acquisition and committed to issuing shares for payment, it would have been preferable to have EPS targets rather than NPAT or Market Cap.

Apart from trying to figure out share-issue commitments/potential future dilution, I'm also still a bit stuck on how much working capital they are likely to need in order to fund their current pipeline commitments, so if anyone has any thoughts on that, it would be helpful. I guess next cashflow statement will provide a clearer picture in that regard.