I don't believe they wanted a large drop but while time...

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Just_a_guy

3,322 Posts.

103

12/08/16

15:23

Post #: 18505851
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Originally posted by tony54 ↑

Just a guy

I'm curious when you say, "Imo groves et al have no need to rush the buyout as it'll be the end of their cash cow".

In looking at the Annual Report issued on 22/4/2016, in particular the Remuneration Report (page 14 on), it shows that Grove (and Elliott) hold "interests in shares 70,926.948" each.

But their "remuneration" in 2015 and 2014 was purely in the form of shares, and the 2015 shares were valued at market value at that time - $1.24 per share.

Thus surely (this is a question)
1. there is no cash cow involved, and
2. Grove (and Elliott) have taken a massive loss on their shareholdings (assuming they didn't sell between April and now).

The above is not in any way an attempt to excuse their incompetence/ stupidity. They must have known months ago that they would fall seriously short of annual target/ forecast but choose not to issue the market update (but someone obviously knew hence the share price drop from mid July to early Aug).

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I don't believe they wanted a large drop but while time continues, their ownership percentage of the company also increases. I'd seen groves shares had increased by close to 500k in 2015 but that was largely due to the rights entitlement. the 100k director remuneration isn't too bad in actuality. The wage for the ceo was a bit high I thought. What do you others think of the remuneration for the management/directors?

ICQ Price at posting: 41.5¢ Sentiment: Hold Disclosure: Not Held
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0 Great analysis

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