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Think it’s only up to 20% cash
So CGP holders have no choice but to take up the merger SOLG shares?? I thought CGP holders had a choice. How can SOLG elect to pay some CGP holders in cash?? Surely that's not up to SOLG? Wouldn't that leave some CGP holders in doubts of whether they are getting SOLG shares or Cash? Seems a bit unbalanced.
we will be millionaires rodney !! happy crimbo to one and all !! gla
It's at SOLGs behest...
"SolGold may elect to pay up to 20% of the consideration in cash"
I recall a poster a while ago highlighting that the SOLG / CGP merger is on a CASH basis or Share basis, eg CGP holders can elect to take cash instead of SOLG shares.
Assuming this is correct, does anyone have an idea on roughly the known take up of SOLG shares via known CGP holders Irwin et al vs the unknowns.
Could SOLG end up paying out $25m+ in cash to CGP holders disinterested in the SOLG merger shares?
I guess it's this unknown that is keeping the sp in check as likely that post merger and cash outcome, another placing will be required if they are to commence exploration as indicated.
What exactly are they 'onto'??
What % do Berry Street own?? My guess is less than 2%.
They, like the rest of us are sensible enough to realise that self preservation starts and ends with protecting your company against low ball and underhand tactics by would be predators such as BHP and NCM.
It's not rocket science... in short... we don't have a choice!
Berry Street are supporting SOLG as per their statement last week… hopefully they are onto something.
Bob , the Canadians are asking us to vote for all resolutions :-s
Well at least you're consistent Bob...
Vote against all resolutions...BHP and NCM appoint a Director each...SOLG gers sold off cheap...
Good luck with your decisions...
I hate to say it but with Nick being so self determined he is also the best person to get a decent price for SOKG. Then you wont have to post here anymore...
Berry Street Co is onto something. I also did NOT vote FOR all the proposed resolutions. You would be nuts to. Look at the share price now and how this company has been run over the past 4-5 years. 16p vs 46p (2017). Thank god the Canadians are running the show now. NM is a cowboy, who has looted us small shareholders. Time and money lost. Vote smart!
Absolutely, rcgl.
This level of remuneration is shocking. I'd be quite surprised if a FTSE 100 IR person gets this amount. And in combination with DC's booty it makes it look as if remuneration is out of control...or rather, was out of control.
Sorry, Fawzi...you're probably a good bloke and are doing your job well, but you're being wildly over-rewarded. This incentive scheme is obviously too generous and needs to be revisited by the board. A question for the AGM?
*certain directors
Maybe I'm being naive but how do you even measure performance for incentive bonuses for the IR function? It's not like he has a pnl number or is responsible for delivering key business milestones on the exploration projects. And frankly this year the relations with investors haven't exactly been great have they. PIs are even more in the dark than usual and barely have a clue what's going on. Institutional investors were unhappy and the company failed to get a proposed equity raise done in the summer, with multiple execs resigning. Berry Street wrote another open letter criticising the company. Proxy advisers are currently advising against supporting the election of certain investors. I realise a lot of this needs to be seen within the framework of a complete 180 on strategy but that's down to the board, in what way has IR driven that other than acting as an intermediary between board and investors, which frankly is the basics of the job anyway.
jajaj
You could also argue that the salary is not a problem if you’re only going to have to pay it for a couple of months ….
as long as you can get those salaries, you would hope no one bids for this dog.
So Fawzi managed to negotiate a 50% increase in his base salary from 2021 to 2022? (As per Kohaku's post).
Nice work if you can get it. I'm sure he's been extremely busy over the last few weeks speaking to various investors to shore up support for the BoD. Time for him to earn that crust.
Up over 30cents on tsx good volume
The same incentive scheme that delivered $1.1m to DC. Given the sp performance it makes you wonder what they would have been paid had the company performed well.
And yes, Fort, it's true.
News at 2pm as tsx opens then and USA
No wonder they are in no rush to do anything here
Lifestyle company.
Base salary is £255,810
Then a incentive plan plus pension brings him up to 450 k
2021 base salary was 165k
There's no way Fawzi can be paid $450k for Investor relations role. That's mental. That's CEO level of pay not mid management. Never mind board director level.
You must have got that wrong. $45k more like it. If it is $450k, then he needs to take a salary cut pronto as SOLG need to slim down as per recent RNS on conserving costs going forward.
$450k. for IR?? Must be a mistake.
Rcgl, indeed.
The Japanese Central bank broke the zero peg for their bonds,this is a big deal and has wide unquantifiable ramifications for risk assets hence the flight to hard currencies ie precious metals and a flight safety,again,precious metals !
Gold should do well here,but,should and did are often non sequiturs.