Originally posted by RCee
if they can get a 1 pound offer, more than double the current value then I will high five them as they carry their 5m out the door.
I don't really care about the 11 odd million options allocated to the Directors, though am concerned that Maher as usual takes the lions share with 5 million alone. Typical of him. At a takeover of one pound a share his profit will be limited to only 2 million pounds.
However, I have a real issue with the additional 100 million plus which will no doubt go in the main to the Directors and especially Maher. How greedy this man is! Being paid over $1.15 million per year, having been the CEO and or Chairman of all, DGR, SOLG and the daughter, companies from inception where their share values have all collapsed, allowing him to personally buy into and allocate himself huge parcels and percentage of these companies, and now the final, at least to this date, allot himself the capability of owning another huge bundle at the 11th hour when a takeover is presumably imminent. I repeat, how are these 114 million options going to be allocated and to who? Maher already owns 90 million shares in SOLG, (plus 20% of DGR's holdings) plus has another 5 million allocated under this recent Director's incentive scheme where he won't have to put a cent down.....payment for same is from a loan from the company which he is instrumental in sanctioning, He is also probably is the only entity which will be able to purchase the 100 million plus other options before they expire, which causes a massive dilution, 11% of company, all going to the people, directors and the chosen, who have a legal statutory obligation and responsibility to ensure fairness to all the shareholders and not just themselves. It beats me as to why Newcrest, BHP and the other major holders tolerate this behaviour. Perhaps a deal has been struck!
Does anyone who owns DGR shares truly believe they will be amply rewarded with dividends from a takeover of SOLG? Maher will make a hundred million pounds plus from the sale of his interest in SOLG and I suggest he will divert most of the profits from such sale belonging to DGR and its shareholders for his own self interest, as he has done in the past.
