Ross Smith, who quit as a director of cannabis company PhytoTech (PYL) yesterday amid a furore over postings made on his Facebook page, has said today that he met the share price hurdles needed to receive his performance rights.
Smith stood to receive millions of performance rights, which can be converted into shares, if the five-day VWAP of PhytoTech shares was 60c or more.
"In case anyone is interested, yes I achieved the PYL performance hurdles in 5 days," a post on his Facebook page today says. "It blasted through 60c so job done."
The post says "I have appointed a strong management team" so the other five million performance rights which Smith stood to get if the company achieves other hurdles "are in the bag".
However, PhytoTech has made no announcement as yet about whether the hurdles have been met, or whether the performance rights will be issued to Smith.
Of course, Smith may say that this FB post is the work of another hacker looking to smear him. In which case, it would be the second time in a less than a week that he makes such a claim,
Readers will recall that Smith claimed on Friday that a post on his FB page, in which a HotCopper member was threatened over a Phytotech post he wrote, was actually the work of a hacker.
Diary understands that PhytoTech chairman Peter Wall, who is also a partner at law firm Steinepreis Paganin, is overseas.
As the chairman, the task of managing PhytoTech's reputation falls squarely in his lap, so Diary expects that it can be only a matter of short time before Wall pops up to reassure the market that all is well in PhytoTech land.
Perhaps Wall may also take the opportunity to address growing speculation that Smith will continue with PhytoTech in a consultancy role.
Diary is sure that, should such conjecture be misplaced, Wall will waste no time hosing it down.
And speaking of being hosed down, it's just as well that Smith's performance shares weren't based on a three-week VWAP.
PhytoTech shares continued their rapid slide, sorry crash, today, losing another 15 per cent. The stock, which was floated at 20c and leapt to around 90c, closed today at 35.5c.
Smith stood to receive millions of performance rights, which can be converted into shares, if the five-day VWAP of PhytoTech shares was 60c or more.
"In case anyone is interested, yes I achieved the PYL performance hurdles in 5 days," a post on his Facebook page today says. "It blasted through 60c so job done."
The post says "I have appointed a strong management team" so the other five million performance rights which Smith stood to get if the company achieves other hurdles "are in the bag".
However, PhytoTech has made no announcement as yet about whether the hurdles have been met, or whether the performance rights will be issued to Smith.
Of course, Smith may say that this FB post is the work of another hacker looking to smear him. In which case, it would be the second time in a less than a week that he makes such a claim,
Readers will recall that Smith claimed on Friday that a post on his FB page, in which a HotCopper member was threatened over a Phytotech post he wrote, was actually the work of a hacker.
Diary understands that PhytoTech chairman Peter Wall, who is also a partner at law firm Steinepreis Paganin, is overseas.
As the chairman, the task of managing PhytoTech's reputation falls squarely in his lap, so Diary expects that it can be only a matter of short time before Wall pops up to reassure the market that all is well in PhytoTech land.
Perhaps Wall may also take the opportunity to address growing speculation that Smith will continue with PhytoTech in a consultancy role.
Diary is sure that, should such conjecture be misplaced, Wall will waste no time hosing it down.
And speaking of being hosed down, it's just as well that Smith's performance shares weren't based on a three-week VWAP.
PhytoTech shares continued their rapid slide, sorry crash, today, losing another 15 per cent. The stock, which was floated at 20c and leapt to around 90c, closed today at 35.5c.