Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Scandic
How did Vonk get his shares? I dont think he paid for them. It looks like it was for services rendered. Not much different to SS except Vonk got his early and without having to put his hand in his pocket.
Everytime you bring this up which is almost daily. I ask can you name another AIM director which has taken up their options early and you have not managed to find one yet.
Scandic
Name one AIM Director who has converted their options early.
SS's dont expire until 31 December 2019 so why would he do something different than any other Director?
Are we going to have another 364 days of you spouting this rubbish.
Just wanted a different heading than the negative ones the Trolls start.
Trolls out in force this morning one claiming that there are 3 Companies which are pumping oil on what must be PE's of less than 1, please can anyone give me the names of these so that I can invest.
Other claiming cash call coming with no evidence despite SS saying that there isnt a need for cash plus 100 tankers providing funds.
Looks like its going to be a long troll fest day(:
Remuneration Committee (RC): We paid the last bloke £600K pa, you can be paid the same or a lesser amount with options to compensate.
SS: I'll take to take lower amount and options.
RC & SS: Agreed £240Kpa and millions of share options.
Scandic
If you dont call the loss of £360K salary per year skin in the game then your definition is different than mine.
Off to the pub, looking forward to Christmas.
Final thought before I shut down. There is plenty of great news out there already that we know which hasnt been RNS'd wouldnt it be great if it came after close on Monday say a 1pm.
I usually wish glad tidings to all but there is one group of people I dont like. Those that drag down good companies in order to personally benefit. Companies which could have made it without them shorting and restricting finance. Lost jobs and lost opportunities.
Fortunately, they cant do it to UKOG as it is already declared Commercial
Seadoc
You cant read a set of accounts because you say earlier that they were filed March 2018 and suggest that the options should therefore show as expired. They are "as at" so they dont change depending on filing date or if you read them today or in 10 years time. Or more simply put 2017 accounts do not show up to date info.
Accounts need auditing, you will not find many companies filing in less than 3 months, for comparison BP took 5 months last year just one month early.
Funny you say that if he took up his options you would close your down bet. I would actually sell some of my shares and derisk because the only reason SS would take up options prior to their expiry date would be to sell them.
You seem to have a lot of time on your hands go and find any AIM or full listed company where the directors have taken up their options early. If your belief is different than all the AIM and full listed company directors who do you think is wrong?
Seadoc
You obviously dont know how to read a set of accounts or understand options.
The options were due to expire in December 2017 but were extended to December 2019, what is the problem with that? Weather the company as reported being in a closed period or because they wanted to reward SS by extending them then there is no issue for me.
The Accounts for 2017 are "as at" 30 September 2017 and as at 30 September the options had an expiry date of 31 December 2017. Therefore they were correctly recorded in the accounts.
The 2018 accounts are not in Llimbo, they are not due until 31 March 2019, and I agree with you they will probably be filed on or around 31 March 2019, their due date.
I also agree with you that SS will not take up his options before or immediately after then, because as discussed previously it wouldnt make sense to unless he wanted to cash them in to make a quick buck.
Seadoc
Correct he would have to pay out 0.4pps so unless he is going to sell them immediately why would he. He can just sit on the options until he needs them. That is the beauty of options.
It would be more of a worry if he did take them up early as that would signal that he was about to sell them to make the profit.
Private1
SS takes the majority of his salary in share based remuneration. He has options of 85million shares, I wish I was a million behind him.
He takes a lesser salary for these options. Do you believe enough in your firm to say pay me less and give me options instead?
I am happy with Portland and KL3 and think the current SP is undervalued on those results alone.
I am concerned about KL4 and the lack of news and tankers. It does remind me of BB.
Wish I never joined twitter as the lack of news/tankers does become a concern and imo does bring the SP down. Not that bothered about day to day SP as I am here long term and generally happy to wait for SP to correctly re-rate. Just occasionally I have a negative day, need to re-read my notes to cheer me up and understand the reason I am invested.