Page two of the announcement:
Amendment of Plan Shares previously issuedThe terms of Plan Shares issued in 2017 have been amended as a result of the recent consolidationof ReNu Energy’s share capital, and to align the terms with the Plan Shares issued today:
Amended Plan Shares (number) 1,434,150
Target Price vestingcondition ($ per share) $0.20
Previous: 14,341,500
Target Price vestingcondition ($ per share) $0.04
So here we have more BS. Previous incentive target was 4c, so with the 10:1 consolidation the new target should be 40 cents, but the chiefs have now decided to gift them at only 20 cents. I mean, what the hell? Isn't a target supposed to be a target? Are the targets for the newly issued shares (20c/40c/50c) simply smoke and mirrors, to be adjusted down whenever it suits them? What incentive is there for these guys to do their job if the incentive share targets are arbitrary?
Ann: Issue of Executive Equity Incentives, page-2
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