Shellbay18 Mar 2025 11:25
I'm with Oogleflugal on this - Shellbay and Jim Mellon look like the winners in this, by stripping >£15m of unrealised "nav" from the company.
"In addition to director fees, Shellbay shall be entitled to an annual fee equal to the value of 15% of any increase between the Company’s net asset value (“NAV”) on a per issued share basis at the start of a reporting period and 30 June each year during the term of the New Shellbay Agreement."
2019 - £0
2020 - £0
2021 - £7,394,360
2022 - £4,562,548
2023 - £3,372,672
2024 - £0