Thanks Bornand. a good, and frankly, worrying account. I like the fundamentals on this company, but to be honest, very worried about management greed here. As David says, the fact they introduced this just after the AGM so as to avoid direct scrutiny/questioning from shareholders reflects badly on these individuals. I'm going to give this some more thought, but AIM stuff is risky enough as it is, without having Directors like this, so selling my holding is a distinct possibility I think.
17 Jul '15
David Stredder from Share Society talks to Share Radio & in particular features on Vislink. https://audioboom.com/boos/3379592-time-for-a-look-at-small-caps-with-carmensfella
17 Jul '15
RE: share plan
This is only my view based on a reading of the announcement. The participants will get new shares which will dilute the value of existing shares. A couple of examples, based on the current number of shares in issue suggest that if the sp reaches 80p then the plan will, in effect, award just over 2.5m additional shares which will reduce the sp, for existing shareholders, to 78.36p (2.05% reduction). For 100p the figures are 6.0m shares, 95.28p (4.72% reduction).
17 Jul '15
So, the bit I'm having trouble with is this: " The value to be received by the Participants at the end of the three year performance period will represent 15.38% of the market capitalisation of the Group above the Hurdle." Does this mean that if the mkt cap is above £85mn in 3 years, the directors get new shares making up 15% of the market cap (so diluting existing shareholders). = very bad Or, does this mean that if the mkt cap is above £85mn in 3 years, the directors get existing shares (which will have to be purchased over time) making up 15% of the market cap (so not diluting existing shareholders) = Good-ish Or, does it mean they get shares to the value of 15% of the EXCESS of the value of the market cap over £85mn ie if mkt cap is £95mn, they get £1.5m worth of shares (either new (=bad-ish) or existing (= good)) What do we think?
15 Jul '15
yes...and previous form
15 Jul '15
RE: Good challenging stuff
Morning, I thought you were getting ready to pounce at the 50p level!! My position hasn't changed one bit but obviously Uncle Bob rang the bell at 60p. I still can't find out who bought that slug, any ideas? Seems like some of the Pi natives are restless with Mr Hawkins and his grabbing technique. Jolly good luck.
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