The Arccon Shareholders who would be the recipients of the PLP shares 2nd tranche are already amongst the largest shareholders - Rob Wilde and John McCowan, so yes I do think they will remain motivated to perform (from memory Rob Wilde wins around 15-20% of AZG). The 3rd Arccon shareholder was Ellerston Gem Fund probably wouldn't be stoked to miss out on extra shares but at the end of the day if they don't hit the targets then why should they be rewarded?
Don't forget there is $10M in the Performance Rights Plan up for grabs per year for ongoing performance of the senior managers of the group so there are plenty of reasons to be motivated.
AZG Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Held
