George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The bonus is a cash payment paid in instalments. The value of the bonus is the difference between the closing price on a specific day (either Oct 17th or Nov 1st depending on which document you read) multiplied by the number of “phantom shares” awarded
The reference to a cap of £12 per share relates not to the bonus, but to the authority granted to the BOD to purchase the company’s own shares
Not sure what would happen if the SP exceeded £12 as the BOD may still wish to purchase shares - so perhaps they would need a new EGM to secure a new resolution with a higher limit
Obelix the Bonus has already been triggered as the average closing price for the 30 consecutive trading days prior to October 17th has already exceeded the placing price
If the SP stays at this level (£3.90) the bonus picked up by GM will be £(3.9 - 0.5938) x 1,129,930 = £3,735,774.57 - and well earned too!
Sharehunter - the CEO “bonus month” has already started.
The terms refer to 30 consecutive trading days prior to the Vesting Date. As the Vesting Date is October 17th the first trading day which is used to validate the bonus was Monday 7th September
The criteria is that for the 30 days prior the average closing price must exceed the placing price
As the placing price was £0.5938 the sum of closing price over 30 days must exceed £17..814
Counting the six days since the 7th the sum of closing prices has been around £19.075
Therefore the bonus is already triggered...
The only date now that really matters is October 17th as the price on this date is used to calculate the value of the bonus
Meant to paste the link :-)
https://www.dailymail.co.uk/news/article-8717523/What-tests-used-Operation-Moonshot.html
As the saying goes... is dangerous...
Sad to see the mainstream media trying to present the “facts” and getting it SO wrong
The Genesig picture is lined up with the Virolens test!
And apparently PCR takes over24 hours
God help us...
I am new to trying to identify short positions so I may well have got it wrong, but the info I can find suggests Voleon are still short but Arian may have closed...
https://whalewisdom.com/short_position/issuer/ncyt
I have been reviewing the info in the AIM Admission Document
An extract is pasted below:
“Those Phantom Awards granted conditional upon Admission will vest if the closing price of a Share averaged over 30 CONSECUTIVE DEALING DAYS prior to the vesting date, exceeds the Placing Price
5.6 Vesting of Phantom Awards
Phantom Awards will vest on the third anniversary of the date of grant (‘‘Vesting Date’’)”
(I have stressed in bold the relevant timeline - I’m not shouting:-))
The most important date is clearly the Vesting Date, and this is confirmed elsewhere in the Document as October 17th 2020
By my calculation 30 consecutive trading days before October 17th takes us back to TODAY :-)
There would seem to be no real likelihood that the Phantom Awards will NOT be triggered as the SP now is comfortably above the Placing Price, and for it to fail to trigger a massive collapse of SP would have to occur
The size of the award is however determined SOLELY by the SP on October 17th 2020
Whether news is released before the AGM or not I have little doubt that following the AGM the SP will rise and this means inevitably that the reward for the BOD increases
In my book they deserve it as they have truly transformed the business in the last 9 months
A plea to all posters....
Bungle & Dylan should feel as welcome as all of us
We ALL should demonstrate our solidarity
Rather than tell people to stand up to bullies we should show them ZERO tolerance
If Bungle has been upset to see how many posters recommended some moronic post why don’t we show him and Dylan their value to us?
Recommend this post to show how welcome they truly are!
I personally hope you both stay as I have benefitted massively from contributions from BOTH of you
Whatever you decide should be for your reasons not ours, and of course stay safe!
Matt 2521 - a thought about the price mentioned of up to €12 per share - as others have pointed out share buyback prices tend to relate to previous recent history etc, and certainly €12 bears absolutely no correlation with the SP to date... without wishing to be accused of ramping, I wonder whether the €12 has relevance in terms of a value that the Board can already foresee the SP reaching on the basis of something yet to be announced?
Johnny 19 thanks for response - I’m still confused
How would share price increase if shares are not cancelled?
Even if held in Treasury etc the shares in issue remain the same so the value per share stays static - there could of course be an effect on SP due to share buyback affecting sentiment, but surely that is another thing altogether?
It looks as though the EGM tables a number of resolutions which appear to be aimed at permitting for additional shares to be issued
Also for shares to be awarded as bonuses and or as options for staff
All of this sounds more than reasonable, but all these resolutions also refer to “ cancellation of shareholders’ preferential subscription rights and public offerings”
It looks as though this could be playing against the interest of LTHs as we would most likely wish to have preferential entitlement to additional shares being issued being retained...
In the way of these things the wording is quite complex and difficult to follow , but have I got this right...
Resolutions, 14, 16 & 18, or is this all overturned by Resolution 19 which still mentions preferential rights
I may have got this completely upside down... help!
An update
Most lists seem to show different names so really difficult to know what is correct...
Have also resorted the list by size of reported holding
(Have not listed holdings below 100,000)
ABN AMRO GROUP N.V. ASSET MANAGEMENT 6,651,288
VATEL CAPITAL 3,739,486
LEGAL & GENERAL GROUP 2,515,909
ALTO INVEST 1,861,447
NYENBURGH INVESTMENT PARTNERS 1,515,151
TALENCE GESTION SAS 1,461,313
HARBERT MANAGEMENT CORPORATION 1,270,624
POWELL (ROBERT) 1,228,710
AURINVEST CAPITAL 893,632
NEGMA GROUP LTD 300,000
OCTOPUS INVESTMENT 300,000
ANDBANK WEALTH MANAGEMENT 110,000
TOTAL 21,847,560 = 30.9% of shares