RE: Genuine Questions7 May 2020 14:41
Please dont be lazy and read the RNS dated 30th March:
The Circular also includes details of an amended agreement with each of Nigel Burton, Charles Goodfellow and Mark Epstein (the "Relevant Directors") along with senior managers, Annabel Jamieson and Tom Gutteridge (the "Senior Managers"). All Directors and Senior Managers have previously agreed to accept payment for their services in Ordinary Shares, subject to deduction and payment of all necessary taxes, until such time as the Directors are satisfied that the Company is able to make these payments out of operating cashflow (as detailed in the Circular and accompanying announcement dated 6 November 2019). To defer the cash costs (principally National Insurance and PAYE taxes) to the Company, it has been agreed that the issue of these Ordinary Shares to the Relevant Directors and Senior Managers will be deferred until the interim results to 31 December 2020 are issued in early 2021, at the Placing Price. The Director independent of the proposed changes in remuneration, being Peter Tomlinson (Non-Executive Director), considers, having consulted with the Company's nominated adviser, that the terms of proposed changes in remuneration terms and timing for the Relevant Directors are fair and reasonable insofar as the Company's Shareholders are concerned.