So, that's a cosey little number - about $20m worth of shares that the previous directors didn't fund but were awarded for...(anybody know why?)...now waived by the current directors (a real family business indeed!) And why weren't they obligated to pay for them? It was just an option to "borrow" the shares risk-free and interest-free and then cash them in for multiples of their "face value" if they ever got there without ever investing a cent? WHA could do with a $20m equity injection right now. What a crock.
Ann: Final share buy-back notice - Appendix 3F, page-2
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