Ann: Release From Escrow, page-65

There seem to be a lot of posters in this forum that have no idea what this announcement means.

Firstly, if you go to the original deal (prospectus) Nick was given consideration shares as part of the vend. Those shares were contracted to be escrowed for 24 months (standard).

The timing of the release, is contracted & therefore has nothing to do with timing in relation to the market announcement, the timing is based on when the contract was executed 24 months ago & out of the companies hands.

As part of consideration for the asset Nick was also awarded performance shares (also escrowed for 24 months).
Those shares only vest if the vesting conditions are met (someone was nice enough to post the conditions).

Needless to say, TV2 has never turned a profit of any sort, so at this point Nick has received no performance shares as evidenced in the last 3B & tranch A will expire on the 9th Feb.

The announcement states that the consideration shares & performance shares are no longer escrowed from 9th Feb, nothing more, nothing less. This means that if Nick does meet a performance milestone in the future, the performance shares awarded to him will immediately be available for sale, but currently he only owns 396,428,573 shares.

Hope this clears things up for some people