Their cash is going out the door daily so it is not that number.
They still have to settle court case. Their pester payment in single digit millions didn't get rid of Hank so still risk there.
Other AGM resolution is to do 5 mill buyback.
Would need advice but I would be interested if 2nd strike if all performance shares are reset and no payments for leaving would be recieved??? Anyone done any research on 2nd strike? If so just resetting and not having massive payouts and renegotiating those into future would save shareholders massive amounts as it might reflect performance in line with shareholder returns not meaningless internal performance hurdles etc.
So large cash position and free business aren't exactly the way I see it IMO. Just how much are you prepared to pay for a non performing business that is not meeting targets they set themselves and then revised? It doesn't matter what it's replacement cos is as if you can't create income and leverage investment sunk in assets then it doesn't bode well and to pay in advance for performance with low hurdles with this track record?
Resolutions IMO should be withdrawn and they might just get lucky without 2nd strike. Take it on the chin .
How else does a shareholder send a message to the remuneration committee and chairman that they obviously haven't been aware of to amend the current situation? This unties their hands?
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