Doesn't look like the mates club you see in some ASX listed stocks like this, and Terry and his guys have significant amounts of equity, something you seldom see in any ASX listed stocks like this.
Looking through the capital rasings of the last 10 years , firstly they have been relatively stingy on issuing equity, some was raised early on around $1 before the move sharpy higher that would have helped a few mates, but some was raised on the way down. Before the desperation rights issue at 20 cents in 2009.
On top of that terry has never sold a share that I can see?
I am sure he gets paid well, but anyone that can turn a $50m company in to a $500m-$1 billion company (twice) deserves it. Even if the valuations can't be sustained.
Clearly no re rate is in the offing at the moment (except a downwards re rate) , but happy to buy it under the rights issue price of 20 cents.
GL
Ann: Petsec 2011 AGM Chairmans Address , page-16
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