Member Info for Steve4077

I hadn't read it properly the first time and thought it was all related to a potential sale, so apologies to 3cardbrag if I was dismissive. I am still fine with the 1-2% for a successful sale (or acquisition), although I agree with Ella it could be abused by both buying and selling (although that seems unlikely).

The short-term and annual schemes appear to be linked, so if someone benefits from the short-term scheme that is deducted from any benefit under the annual scheme ("An Eligible Participant who has been awarded a Short Term Incentive Award is eligible for an Annual Incentive Award but their Annual Incentive Award will be reduced by the amount due to them under their Short Term Incentive Award.")

I think we would need to see some examples of how short-term / annual scheme would be used in order to determine whether it is really to provide extra incentive, or just a way of giving directors more money. On the positive side, Colin has been active in buying shares (2m a few weeks ago) so if he intended to abuse the situation, there wouldn't have been much point in buying those shares.

Personally, I have benefitted from quite a few of these type of short-term bonuses (often applied post hoc for a particular piece of work rather than a direct incentive) over the years and it was done in a reasonable way, so I am staying optimistic on this until I see evidence to the contrary :)

Actually, Ella is right. There are three separate schemes, so the 1-2% and the 3x salary are mentioned in different schemes. It probably would be useful in the AGM to understand the total amount envisaged for all three schemes.

>> That's a rather selective response. What about the other parts of the appendix which refer to up to 3 x annual salary? Not to be sniffed at methinks

You seem to be trying to find something to complain about :)

Its 1-2% of total transaction price, which is distributed among employees. None of those employees can receive more than 3x salary as their part of that distribution.

From a shareholder perspective, I don't really care how they distribute the money internally. Besides, if the bonus is so big that the 3x salary restriction comes into play, then that means a huge sale, which means its very good for me. Maybe try a glass half-full approach?

I'm not sure I understand the concern here re the incentive scheme. According to the RNS: "The maximum award payable in relation to a transaction will be in the range 1% to 2% of the Transaction value and be allocated amongst the Eligible Participants by the remuneration committee. "

If this multi-bags and sells, then I am not losing any sleep over the people that made that sale happen getting 1-2% of the total sale value between them.

What was he wearing?

If you haven't been to Croatia before, try to visit Plitvice lakes. Also, if you are staying in the north, pop across the border and go see Lake Bled in Slovenia.

I would like to go, but I am on the Isle of Man. £340 for return flight, plus two nights hotel (£250?) due to flight times and time off work, plus tedious transfer from Gatwick, plus I won't be able to resist visiting some favourite restaurants in London, so £1000+ by the time I am finished.

In fact, more like £5,000 to £10,000 in opportunity cost because I could spend the money on XTR shares instead :)

>> The transaction incentive is relevant to both acquisitions and disposals.

True, although I think disposal is a lot more likely than acquisition (at least I hope so!).

>> Apparently current salary and share options are insufficient incentive to align the directors interest with shareholders..

It is a separate scheme based on selling the company. I've been in two companies that were acquired and both times I received a large bonus on top of my normal salary and bonus. Its fairly standard and part of it is to compensate for the fact you may be let go by the new company. Otherwise, it probably would not be in your interest to work on helping to sell the company.

The interesting part of the RNS today isn't the alluvial results, but the 'Transaction Incentive Awards'. "These will be awarded to Eligible Participants and the Award Triggers will be based on the Company completing a successful acquisition or disposal transaction (the "Transaction") based on criteria determined by the remuneration committee. "

We just had the highest closing price since May 24th.

>> In that context this definitely feels like a very good price and a much reduced risk profile.

I think the reduced risk profile is the key. There is so much more information available now, which takes away a lot of the potential downsides. It is really difficult to see how this stock doesn't end up multiples of the current price without some black swan event.

Just trying to top up again and can't even buy 10k shares.

>> just freed up and got a few more at 4.585

I think that will look like a good price in a few weeks. I've been selling something else and buying more XTR over the last week.

Cantor up to usual tricks. Pushing the ask down but no stock to sell.

Cantor is on 4.6, SCAP at 4.7. Everyone else 4.9 or 5.0

>> IMO CB is extremely astute and knows what to do to establish maximum value for shareholders.

Also worth bearing in mind that CB has over 12m shares and (I think) another 10m in options, so he will be trying to ensure a good long-term share price.

I suspect if that was the case, then XTR wouldn't announce a JORC. They would just drill everything first.

A little confusion about ore tons and contained copper tons but still really positive PR for the company.

I'll settle for a quiet, slightly down day on a Friday after the recent upward trend. Lots of interesting news to come over the next few weeks.

https://www.lse.co.uk/rns/XTR/notice-of-agm-cavjyuz6mekig5z.html