Seems OK to me. If the NPAT was just under $6 million he would still get a similar amount under pro-rata arrangements. e.g profit of $5.95 million would give him 70,687,500 shares (36.25 X 1.95 mill). I can't see any advantage is massaging the NPAT to just over $6 million (it is not a trigger event for the allocation of the bonus shares, it just the sets the maximum amount payable).
However the issue of 72.5 miilion shares is significant dilution given that there are only 202 mill existing shares.
full year accounts, page-5
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Last
17.5¢ |
Change
-0.005(2.78%) |
Mkt cap ! $47.63M | |||
| Open | High | Low | Value | Volume |
| 17.5¢ | 17.5¢ | 17.5¢ | $15.52K | 88.68K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 141709 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 7210 | 1 |
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| Last trade - 15.17pm 11/10/2024 (20 minute delay) ? |
| EPY (ASX) Chart |