The BOD loan is exactly that. They own the shares and owe the company money. They are waiting for the share price to rise as we are so that they can sell part of their shareholding to fund the loan repayment.
This is a very normal standard company shareholder loan agreement which is reportable annually to the ATO.
New ATO rules regarding shareholder loans come into effect 01 July 2019 which may or may not have implications for the BOD.
IMHO, allow them to extend the loan agreement period and let them make a decision as to when the loan is repaid. There is incentive for the BOD to increase the SP although with a skeleton crew doing all the work, they may be hard pressed to recover lost sentiment. Looking forward to the new year on this one.
Again, it is none of our business when the loan repayment occurs as we (the other shareholders) do not have the reportable tax obligation.
The BOD loan is exactly that. They own the shares and owe the...
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