Ann: PYC Equity Raising to Raise up to $146 Million, page-39

Just on the shares, so many coys these days allocate ridiculous amounts of options / shares under the guise of STI's and LTI's stating they do this as its common practice or they gave away shareholder money to some HR rem consultant who tells them exactly what they want to hear and that they need to be aligned with peers (nothing to do with REAL performance or REAL results).

So leadership holdings are rarely through them reaching into their own very deep pockets, more common is the token purchase here or there to comfort us poor lowly holders, sometimes they grace us with participation in a cap raise, then on and on with more performance rights at the next AGM...

In terms of PYC - have a look over the recent Annual reports....Draw your own conclusion to see if RH's individual holding actually matters in this case..

If people took the time to read the remuneration report within the annual report, they would see that RH and the entire board are working for very fair amounts.
The fact they have not awarded themselves silly amounts of shares PRIOR to measurable and significant milestones being achieved should be the benchmark for all listed companies. It should be applauded and demanded for (most) other businesses.
You could deduce from the report that the leadership will be rewarded down the track, once the big game is won and the runs are really on the board.
I for one would be very supportive of them doing this. PYC wins, we win, they win.

So I couldnt be happier with the remuneration and its management, value and fairness and I for one will be voting yes yes yes when the day comes to allocate RH some more shares so he can do with them as he pleases.

The fact he disposed of his holding "to satisfy the repayment of an intra family loan account" and presently doesn't hold shares is of no consequence whatsoever, as PYC dont play by the dumb rules all the others play by (see the great cap raise history / rem reports if you dont believe me.

PS: The retail component is underwritten to a max $70m with anything not taken up attracting a 6% fee (fair enough). Iyou may want to seek advice as to whether you should take up the offer, this way more of the funds will end up with the company ass opposed to some of the underwriters.

GLAH




From the most recent annual report.
The principles state: