Ann: Change of Director's Interest Notice, page-11

Lets be clear here. This is a good thing....

Practice is normal, even positive, but the accounting is out!

He sold heads to pay for the conversion of SYAOD's to heads. (15.183c)
A very common board member practice.
converted SYAOD 14,534,885 x 0.03= 436,046.55
Sold heads 4,070,000 x0,15.183=$617,975
He gained 10,464,885 heads ( main shares)
and put $181928 in the bank.

After transaction-
No. of securities held after change
136,713,993 ordinary shares (as per notice)
30,624,999 listed options (SYAOC)
2,000,000 unlisted options (SYAAA)

122,179,108 ordinary shares- Sold heads 4,070,000=118109108

Should be.....118109108 + 14,534,885= 132643993

You guys are right, they added the 4070000 rather than subtracting it, or just did not remove them in the calc at all.
Should be 132643993, but they listed it as 136713993= 132643993+ 4070000...

Sloppy accounting again!!

As the transaction dates are 28 June and 1st July, they should be incorporated by today.
And the 4070000 sale was 28th June....plenty of time...

Oh, SB would LOVE this!!! He's accounting head would be shaking in disbelief....

Anyone able to shed any light on this? Or should we follow up with the company?

BTW...The regs....

Obligation to report threshold crossings

The obligation to report threshold crossings derives from Part 6C.1 of the Corporations Act 2001. Section 671B(1) of the Corporations Act 2001 obliges a person who obtains a “substantial holding” (5%) in a listed public company to disclose the interest to the company within two days of acquiring the interest and serve a copy of the disclosure on the relevant market operator (generally the Australian Securities Exchange (ASX)).

A substantial shareholder is a person holding or having interest in 5% of the voting shares in a company (or if there is more than one class, 5% or more of the shares in any class). The shareholder must thereafter notify the company and the relevant market operator of any subsequent change of 1% or more in their interests.