Von Rico
A less emotive response to your question.
Under the Company’s Employee Incentive Plan shareholders resolved at the 2013 AGM to award the CEO an interest free loan of $360K to allow purchase of 12 million CDY shares at 3.0 cents each (currently under water). The shares are retained in escrow in three tranches over that period unless prescribed performance criteria are met.
The Company’s Preliminary Final Report shows a share-based contribution to shareholder’s equity of $74,524 up to 30 June 2014. This indicates a systematic pay down of the loan for the period from late November to that date.
Von Rico A less emotive response to your question. Under the...
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