Additional New Share Issue Annoucment Question

Although I have the utmost respect for the company's management I think its a bit sneaky to release these new share issues at such times in the hope with all the good news getting bandied about the release gets swiped under the carpet.

From my understanding of the news release there is currently 723,289.067 shares issued in A2.

There is a additional 13,098,000 (including the 406,00 shares in today's announcement) vested shares not included in the ASX listed share issued for A2 set aside to select A2 staff and strangely enough to A2 subsidiaries. I think the bar set to claim them is a joke.

The company only has to raise their EPS by 20% a year from FY 17 thru to FY2020 for staff and subsidiaries to get the free shares, going on Morningstar's conservative A2 share EPS forecasts

EPS for FY2017 is 11.7c,

EPS for FY2018 is 17.7 a gain of 51%,

EPS for FY2019 is 22.8c a gain of 29%.

The gain in those 2 years means they can make zero extra earnings per share in FY2020 over FY2019 and still meet the targets required to get the bonus shares. Its obvious that Morningstars figures are going to blown out of water in years to come bar some left of field event.

Whats the point of announcing a share buy back when management keep issuing new shares to replenish the ones they seem to cash in on a regular basis themselves knowing they are practically guarantied to get bonus shares when their self appointed low targets are met.

Happy to be corrected but if you read the release in detail that's how it looks to me, why dont they just pay bonuses as additional salary as not to dilute the value of our shareholdings ? Or is that a deliberate ploy not to cut into the companies profits so its easier to achieve those 15/20% CACR targets...

Would appreciate other peoples thoughts on this news release.