Ann: CEO Remuneration Update, page-48

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JackSpark

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16/06/24

10:35

Post #: 74336427
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Originally posted by manny100: ↑

I am over worrying about exec and BOD renumeration. Most ASX listed companies seem to charge like wounded bulls. Sheite MA got a packet over at FFX for messing up. Then they big time paid the last CEO out.
The only comfort in the FFX/LLL mess is that Simon Hayes got holders a get out of jail free card. That is what i focus on, so i am not too concerned about the arrangement.
If we pay the same rate of CGT for the sale price as we did for the 5% stake sale to GF, then it looks like:
$US7.6M on $US65m = 11.7%, say 12%.
$US342.7 by 12% = $US41.1M CGT.
$US 342.7 less $US41.1 = $US301.6M
Convert to Aussie $ ay say o 67.
301.6 div by 0 67 = $A450 15.
At circa 1.20 bill shares on issue..
= 37 5 cents per share.
Add cash on hand say as per March 31st of $A69m for circa 1 2 bill SOI = 5 75, say 5 5 cents per share.
Total = 37 5 +5.5 = 43 cents per share
Add what the 1.5% is worth after appling a discount a buyer will demand.
Lower end = 6 or 7 cents a share less discount say we get 4 cents a share.
So IMO looking at around 43 + 4 = circa 47 cents a share payout.
I disregarded the $A11 5 mill from FFX.
Its uncertain whether FFX will distribute their cash or LLL shares or if they dont what will become of the payout they get from LLL.
FFX said no cash payout or distribution of LLL shares until the Arbitration is finalised or they are removed as a party to it.
If there is no distribution of the LLL shares FFX will get circa 210 m shares x 0 47 c/sh = circa $A98m.
This will likely bring other creditors out of the woodwork. So there is a bit to play out here before we can count our FFX $.
Cant remember how many shares FFX have but if its say 1 2 bill that is = circa 8 cents a share less CGT.

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have you learnt nothing from FFX? just because they may have 43cps doesn't mean we will see 43cps

I would say we will see way less than half of that returned if any at all

LLL Price at posting: 50.5¢ Sentiment: None Disclosure: Held
4 Upvote

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Ann: CEO Remuneration Update, page-48

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