A combination of the fees they pull from the company and the combined 7 million shares they issued themselves: Neil Warburton got 2 million shares as sign on bonus and 1.25 million for supporting the IPO, Greg Martin got 1.25 million shares for supporting the IPO and CPS got 2.5 million shares for supporting the IPO - these are all in addition to any fees they pull from the Company. Still those 'free' shares are a pretty small percentage of the total shares outstanding and, in the case of the two directors, are small compared to the total number of shares they own. Presumably most of the other shares they own were paid for with cash, so depending on what price they paid (if anything was in fact paid) they still have a fair amount to lose. I'm not concluding that they're milking it until I see whether they issue themselves and their friends more cheap/free shares at the AGM. CPS on the other hand - they barely got the IPO off the ground and picked up more than 2% of the company and a bucket load of cash fees. It's all gravy for them.
Neil Warburton was applauded here just a few weeks ago for buying on market. The price has fallen substantially since then so I wouldn't be surprised if he's in the market buying again to show that whatever positive expectations he was buying off haven't disappeared. He's been around the block a few times so should know that once he's put himself out there as someone who buys opportunistically on market it's a bad signal for him not to keep it up.
CM1 Price at posting:
10.5¢ Sentiment: Sell Disclosure: Held
