"Plus they would have mentioned it in the announcement unless...

"Plus they would have mentioned it in the announcement unless they're purposely trying to lower the share price? Do they have option prices being set soon?"

No options over equity are outstanding.

I have followed the actions of the people who run this business for the better part of a decade and while they may be many things, they aren't spivs.

They pay themselves a decent, market-rated salary, plus potential cash bonuses equal to a maximum of 20% of that salary, depending on actual business performance against budget.

So, nothing too egregious in terms of executive remuneration.

Some people are niggled by the fact that Father and Daughter assume the roles of Executive Chairman and Managing Director, respectively, which bloats the executive cost base. (I'm more ambivalent, seeing it as what you sort of get in exchange for a business that is run with tender loving care and with shareholder value creation as the overarching strategy.)

When you buy shares in SDI, you have to accept that you are essentially buying into a family-run business, meaning the board is not independent, and control of the business rests with the Cheetham family, and that you, as a minority shareholder, are just along for the ride, and with all that it entails.


For, like all multi-generational, family-run businesses worth their salt, I have found the Cheethams tend to think about where they want the business to be in a decade's time, and don't care too much at all what the market thinks in the near-term.

Actually, I often wonder why SDI exists as a publicly-listed company.