well written. I’m not a fan of the performance shares. I think history shows that the contracts that drove hitting the 2018 revenue targets were not long term and did not generate anywhere near enough shareholder value to justify them. That’s a fact and it doesn’t make management look good no matter how you cut it. But on the flip side I guess it’s easy in hindesight, the terms of the performance shares did only specify revenue/turnover targets (and ASX signed off on that) and nothing looks illegal. I think a negotiated outcome factoring in both sides would be in the interest of other shareholders. Not sure the ASX “ethics based” arguments wins in court though, if management have manoeuvred inside the rules.
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
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