I think that Ryan’s 2022 is more than a pass as he started selling the Rox story and to be fair January is a quiet time in most places. However, the first announcement for the year being a grab for free shares by management is appallingly in bad taste. You don’t need to be a rocket scientist to work out why they have gone for (FREE) Performance Rights rather than (PAID FOR) options.
The rejection of the Performance Rights to the old Board Members is a no brainer. As for Ryan, he has a couple of weeks to sell to us why we should vote for him getting the PRs.
Fortunately, RXL seems to have a reasonably rational shareholder base where voting will not automatically favour management. I owned shares in another company where super outrageous Performance Rights were issued to a management team that has not delivered consistently. If their CEO passed wind into a jar the diehard shareholders would be insisting that it was perfume.
The upcoming vote is a good opportunity to keep RXL Management honest and to create respect for retail shareholders.
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