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No salary cut from the VAST board then!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
private investors who wants to raise a voice against AP and BoD, can contact me via twitter.. Happy to get the details of holdings and someone in the group can represent PIs to have a voice.. GL
Fantasy - there's no insti's to do it here... a massive reason why they get away with it. It needs any large shareholders to with balls to step forward... will they?????
No need to cut salary, just get rid of this incompetent lot...
Kurrinz - it's when you delve further though that you start feeling a little uneasy.
If AP and co aren't going to do the right thing and take a 50% salary reduction how about them stepping aside and letting someone else taking the reigns and sorting this mess out? They've had long enough, are not capable of the job or deserving.
nothing was hidden from the market.
full disclosure on appointment.
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Fantasy did a very interesting post ages back called 'where has all the money gone?' or words to that affect.
That doesn't make good reading at all Antharry. More homework needed - i knew nothing about this.
BlackHopper, I'd rather be a 'sanctimonious old fart.' than someone who 'accidentally' posts misleading - correction - massively misleading information
bobbyd58 - if the largest retail holders had the balls (they clearly don't) they would face the management head on now about the salaries for starters!!!! It's obscene. As long as they keep paying themselves $700k a year the need for constant raises will just go on and on. Remember $700k pays for their life styles, anything raised above that goes towards brokers fees and then VAST!!!!!! Total madness and something needs to change here sharpish. Remember, everytime they issue more shares the upside becomes less and less...
Pecten I’m on the phone otherwise I’d give you a fuller response but thanks for confirming that you are sanctimonious old fart.
However, this is not how the shareholders were portrayed on my perusal of the website
That said I am a post-placing trader looking for profit and vast look like they are finally about to ship product so I think I’ll do alright from .16p
I hope you’re average is a lot higher...... oh but maybe you don’t actually have any shares.....but you are here a lot.... hmmm
He certainly knows how to look after number 1 the 1st class p...k... this bridge better be in by tomorrow and concentrate moving across it or the peasants, i mean PI's will revolt!
This is the breakdown of salaries from the annual report:
Eric Diack 33
Craig Harvey 196
Nick Hatch 28
Brian Moritz 33
Andrew Prelea 244
Roy Tucker 163
Blackhopper - no instis, they are nominee accounts i.e retail.
Pecten - a reasonable shout and would be far more satisfactory than the current nightmare. The thing is the board should do the right thing and take a cut but they want because they've been milking VAST for years. I mean $700K+ a year, it's a disgrace tbh but they know they have shareholders over a barrel.
Blackhopper , if you don't know this, you really shouldn't be investing any money in the market
https://www.investopedia.com/terms/n/nominee.asp#:~:text=A%20nominee%20account%20is%20a,be%20held%20in%20street%20name.
Alternatively, from the VAST website -
Percentage of shares not in public hands: as of 20th August 2020, 1.41% of the Company’s securities were not in the public hands. - in other words 98.59% of VASTs shares are in free float
So what are those holdings pecten?
Nickel, dent know if you saw my suggestion for a large salary deferments (50%, 60%, 70%) taken in nil cost options with a strike price of .4 to increase BoD alignment with shareholders.
What do you think?
At the end of the day it's case of do you want to entrust your hard earned (or not so) with this board.
If AP bad been found liable, he would have been disbarred from becoming a company director - not sure about his dad though
Antharry - the story of South Pacific and APs dad should be common knowledge for anyone who has done research on the company - in theory he should be more accountable within a PLC
Blackhopper-'But Vast has over 50% share in institutional hands. '
Er, no, not even close. In fact none over 3%
Nominee accounts aren't institutional investors as I'm sure you know
From the VAST website:
Hargreaves Lansdown PLC 19.01 2,324,636,937
Interactive Investor 11.52 1,408,462,435
Halifax Share Dealing 9.88 1,208,301,683
Barclays Wealth 4.55 556,464,312
IG Markets 4.14 505,950,361
ITI Capital 3.68 449,521,036
Blackhopper - yes i repeat the $700k+ salaries all the time because it's a joke. This company issues shares like confetti , doesn't deliver what it says and has lost shareholders a tonne of money. As i said, a monster part of the problem here is that salaries are so obscene that they have no choice but to keep issuing new shares. They should do the right thing and cut by 50% immediately - as many other boards have done during Covid!
Interesting ant. But Vast has over 50% share in institutional hands. Not sure they want to get shafted
Nickel does this all the time by the way. It’s his modus. But I also partially agree. However, in today’s world these are not big salaries
antharry - AP had a dodgy property development company? Can you provide a link? Wasn't aware of that.