Purpose of new shares issue announcement, is of two folds;
(1) Fully Paid Ordinary Shares issued in connection with the settlement of legal proceedings.(2) Grant of Performance Rights to employees pursuant to the Company’s Omnibus Incentive Plan and (in the case of the Managing Director) in accordance with shareholder approval obtained at the Company’s 2018 Annual General Meeting of shareholders.
I understand the second reason which is as per approved Omnibus incentive scheme almost 2.5 m shares. Interestingly 5.2m shares for settlement of legal proceedings. Who would receive those shares KDR lawyers, Hull or staff? Interesting...
