Notice of Extraordinary Meeting, page-4

First 4 Last

Share
Profile

Follow
growler1969

7,323 Posts.

2283

24/08/16

23:12

Post #: 18660279
Share

Originally posted by rosyoutlook ↑

The hard mile stone was $6 Mil revenue which has apparently been met (maybe through acquisition). The MC hurdle was always a bit silly, to base something on the wim of the market.

The new performance rights don't have a particularly high hurdle. So a bit disappointing there.

"Performance Conditions Subject to any exchange imposed escrow, the Performance Rights will vest only if:

(a) The Tranche 1 Performance Rights when the Company lists on an alternative securities exchange other than the Australian Securities Exchange;

(b) The Tranche 2 Performance Rights if the Key Executives are still in their current positions whether as directors or joint secretaries respectively on a date 12 months from the date of their respective appointments;

(c) The Tranche 3 Performance Rights when the revenue of the Vonex Group reaches $10 million dollars per annum in any quarter; (d) Notwithstanding the Performance Conditions above, all the Performance Rights will vest automatically if there is a trade sale of all or any part of the business or assets of the Company or if the Company merges with another company or is the subject of a successful takeover or if the multi-platform phone call and messaging communication app called “Oper8tor” is spun out into a separate Company. "

In the overall scheme of things not a lot of shares, but will dilute the rest of us.

At least we're moving forwards. Next should be a CR and relisting. And of course continued progress on Oper8tor.

Expand

Attention to detail....

Milestone 1: Vonex exceeding revenues of $6 mill per annum AND maintaining a market cap of more than $40 million for 10 consecutive ASX business day within two years of Settlement based on shares on issue post Settlement.

Notice the bit written in caps? Copied straight from the original investor presso. Caps were written by VNX, for effect I suppose. But now they are not listed, they just want to forget about the key paramater.

Disgusting!

VNX Price at posting: 0.0¢ Sentiment: None Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

MIN

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%