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Many of us have been here for years and have seen more than enough.....to make a reasonable view on Rowan's abilities. On past performance he will never make money from his options. He might make the only smart move he has ever done with this company and either just fall on his sword and let a better man or woman with some ability take over or let his well connected non execs pull the strings. But like all the disgruntled here I am greedy enough to want him to make an undeserved fortune.
PF - I am beginning to think you don’t understand how share options work. First the price needs to go up to the vesting price. Then they need to vest. Then the price needs to go up from there for the resulting equity to be worth something. So he has to get the share price well over 2p if he is to make any money. Do i understand you to be saying its going to be easy for him to achieve this? If so, happy days for us investors. If not, why do you care - as he won’t make any money anyway? It would be illuminating for you to tell us whether you think he’s an idiot who will fail or a clever guy who’s got the share price down, got some options and now will be so successful the share price will more than double or triple? It can’t be both can it - unless you have already gone through the Looking Glass......
*committee
You are correct HW. Waiting on another Rowan promise is Einsteinian insanity. Why believe the same old Rowan line again? He has failed so often he should go.
Why wait for tests when it has been done already?
02/01/2018: sp = 2.35p – RNS ‘CoalSwitch Full-Scale Reactor Test Completed’ [Over 3 years ago]
05/02/2018: sp = 3.60p – RNS ‘CoalSwitchT Plant to Become Fully Operational’
12/02/2018: sp = 3.35p – RNS ‘Opens Inaugural CoalSwitchT Plant in Utah’
13/04/2018: sp = 3.90p – RNS ‘JV signed to Commercialise CoalSwitch in Poland’
23/07/2018: sp = 3.37p – Rowan becomes CEO
You know the rest.
I suppose as one of two people on the remuneration committie Rowan could award himself millions of share options for his failure.
Everyone knows the failings and missed deadlines. This is now set up to make money! Surely...
There is little else to be said about the disaster years and most LTH now just want to see successful test results and 2-3p quickly!
I have no desire to make Rowan wealthy but if gets us to 3.5p I’ll be very happy and will take it!
Rowan’s performance should not be judged solely on the dilution and share price before the latest restructuring (which I believe was needed) he should also be judged on missed deadlines, share falls before poor rns and his lack of public company gravitas. I hope he gets all of his options into the money so poor shareholders may get their money back, he deserves to be fired in my opinion.
There’s a typo there. But can’t you see that saying the CEO is useless and won’t achieve anything at all with one breath and with the next breath saying its an outrage that he could make a bit of money when he’s tripled the share price is quite amusing.? Anyway - i am genuinely enjoying it and - as i said - i hope you haven’t said everything you’ve got to say already and now we’re only going to get repeats. That would be a shame.
ab hominem
That one is a little dull PF and a bit repetitive. I am hoping maybe you have some additional material? Keep it coming :)
23/07/2018: sp = 3.37p – Rowan becomes CEO
09/07/2019: sp = 0.38p – 89% fall in sp less than one year after Rowan became CEO
26/02/2021: sp = 1.1p (end of day) -
"The Company's Remuneration Committee has recommended to issue 86,469,467 Options to certain Participants...
Director (Michael Rowan) Position (CEO) Number of Options Granted (58,530,776)" [67.7% of allocation]
AEG Corporate Governance: https://www.aegplc.com/investors/corporate-governance/
"The Remuneration Committee is comprised of Michael Rowan and James Leahy."
CoalSwitch reactor still not rebuilt.
23/07/2018: sp = 3.37p – Rowan becomes CEO
09/07/2019: sp = 0.38p – 89% fall in sp less than one year after Rowan became CEO
26/02/2021: sp = 1.1p (end of day) -
"The Company's Remuneration Committee has recommended to issue 86,469,467 Options to certain Participants...
Director (Michael Rowan) Position (CEO) Number of Options Granted (58,530,776)" [67.7% of allocation]
AEG Corporate Governance: https://www.aegplc.com/investors/corporate-governance/
"The Remuneration Committee is comprised of Michael Rowan and James Leahy."
CoalSwitch reactor still not rebuilt.
PF - wanted to say thanks for your amusing posts. I particularly enjoyed the marvellous contradiction of the useless CEO who can easily triple his share price. It’s very funny. Please keep it up. I am hoping there is more to come today :)
That is the best that can be hoped for but, as I am sure you are aware, I am not so glass half-full as that.
Before any sales (presumably you are talking CoalSwitfh and not wood) it would be a good idea to get the reactor in Liumberton (North Carolina) up and running.
Not having rebuilt the only (and working) reactor nearly 2 years after the decision to locate is clearly not good enough. Any potential buyer will need to know that AEG can deliver. Not only is that not the case, but the opposite is more the reality.
The ridiculously low vesting price of the LTIP is an indication to the market about company priorities - why should someone want to buy something from a reactor that has taken 2 years (and counting) to relocate and rebuild whilst the CEO and his 8 allies have come up with a LTIP that will reward for doing not much more than rebuilding the reactor?
Hopefully the new big shareholders will see the performance and recent avarice of Rowan and his cronies and give him 6 months or out. I would give less.
You see, I am attaacked for being negative against all the rampers on here. Some may be just hopeful kind of people (fine), but others have their agenda and are quite easy to spot.
I want to sp to rise as well but it is not going to rise unless AEG can really deliver (and not just promise as they are now for the upteenth time).
Not rebuilding the only working reactor yet is a disgrace; the recent easy to reach LTIP just confirms that AEG have big problems ahead with Rowan in charge.
Now we need lots of volume to clear out all those wanting to make a small profit on the placing shares. The SP could well stay around these levels for a while but at some point, the selling will stop and the SP will be free to rise to whatever is fair value. Pretty sure things will be fairly steady in March unless they announce another licence deal or test order. Having spent the first quarter nailing a successful finance round they can now focus 100% on sales and delivery.