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I'm not talking about him buying in open market / placings.
I'm saying swapping his salary (fixed amount) for shares benefits him getting more if the SP is lower.
Question for you MGS... I assume you read last years Annual Report on SEDAR and are awaiting this years shortly. Do you think AC's total remuneration and huge jump year on year is in line with the results he's delivered as CEO?
Marketgun your detailed posts are always appreciated
Mls678 –AC has sacrificed salary at a higher price and also bought on market and taken part in placings. To accuse him of benefitting from a low share price is completely untrue. You made the same accusation back in May and I did all of the analysis then. But here it is again for those who did not see it first time or may have forgotten.
Since 2017 there have been 11 RNS releases which make mention to AC purchasing shares, receiving them in lieu of salary or exercising options.
In this time period he has acquired 28,271,344 shares and has paid £1,004,285 for them (ie his average price for his shares is 3.55p)
From looking at the reports on lse of the directors buys (because it is easy) and stripping out all of the duplicates from placements etc we can also see that since February 2019:
AC has bought ON MARKET a further 29,657,610 shares for a total consideration of £577,628 (ie the average price he paid for these shares is 1.95p).
He has also sold or transferred approximately 5.7 million shares thus giving him his current holding of 52,184,115 share or 5.8% of the company.
So since 2017 Andrea Cattaneo has:
1) Paid £356,783 to the company to exercise his options.
2) Received £221,415 worth of shares in his salary sacrifice scheme.
3) Paid £413,290 to take part in placings by the company.
4) Bought a further £577,628 worth of shares on market.
This means that in total he has paid £1,581,913 for his shares. This whole nonsense that he has “bought or acquired those shares from Zen at no cost” is quite simply untrue.
Mls this shows that director is expecting the share price to rise therefore one must follow the money. I myself added on Friday and will add more here today. On the chart perspective zenith are at low. Believe a good buying opportunity at this current moment for the next leg up will move fast back up. Buy from me.
No. AC is swapping his salary for shares. A low SP means he gets more shares for his agreed salary
AC is backing himself here with shares which is why many of us are confident he wants to make this company a success. We now have to be patient and let the African assets bring in production continually adding value to the market cap.
Except the vast majority of all his wages is taken in shares that he does not sell. You may not believe in the future of the company but it looks like AC does. A very good sign for me.
MUD .... the money this man is earning is a JOKE for a micky mouse company .... that is continually telling us that his building a major oil corporation.... i remember him early last year saying in a interview that the shares should be at 20P in AZER and with alot less shares in issue ....it seems to be a one man band with the trumpeter taking all the income ... just my opinion ....
Don't you think that starting with an insult is a little desperate mud?
and no I wouldn't. I knew on the surface he had high wages when I punted, it was no surprise to me so why should I worry now? The only real shock I had was when I realised how high a proportion was in shares and how much he'd lost on them apart from that I'll leave the pondering to you.
Good to know what you're looking for here , an oilman onboard. Thats not a bad line in the sand.
For me it was moving away from Azer and getting hold of Tunis. Will have more if/when another of their licences or growth at Tunis looks compelling buy yil then will just hold what I have.
Believe the answers that you lump it altogether mud. Notes 1,2, and 3 are all in the table. Makes him a bargain at twice the price doesn't it?
Scratching my head a bit at all your posts asking if anyone knew his compensation when you could have just told us all along. Were you just trolling? Surely not.
One question with his salary being paid quarterly in shares at the average price per quarter, and given we all know the price action since well before Azer went boobs up. How much has he lost doing this?
Must need the shares up more than we do ?
Noted one other thing in your post that Freud would love , you're actually contemplating ZEN being successful at something!
Careful mud or you'll be a bull before you know it.
12 months ago we finished drilling the well at c-37 which is the only operational activity the company has managed to undertake over the last 2.5 yrs. while waiting for results there the company spent £200k on civil works at c-30 and then walked away blowing £200k for shareholders..looks like they’ve decided to carry on the same strategy this year on tilapia .maybe in 2021 I can give them a £200k option to drill on my land . Win win I get some funds back with no risk of zen ever drilling and rampy shareholders can wet their pants in excitement about a promising new license in the Home Counties !!