Ann: Conversion of Class C Performance Shares, page-66

@madamswer
I agree that investors have themselves to blame if they weren't aware of the performance shares.

* AASB 16 - You may be comfortable though surely you can see that IPO shareholders may be upset about it, nd that is to whom your original post was directed at. It is also unlikely in the year of Omniblend and Supercubes acquisitions the average SH would have been aware the impact.

* Incentivising CRs - Omniblend acquired AusConfec (assets only) and its revenue/EBITDA is now included in Omniblend's. Any KTD entity can acquire another entity. To quote C. Munger "Show me the incentive and I'll show you the outcome"

* 1/3rd call on future prospects - the performance of the company needs to be that great for the revenue and EBITDA hurdles to be met, e.g. $7.5m EBITDA & $100m revenue on 400m shares on a multiple of 1.0-1.5 is a PS of $0.25 - 0.375. Good though hardly "sensational".