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niloony

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10/10/21

13:02

Post #: 56690514
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Originally posted by bingo22: ↑

At first glance the on-line voting agenda at the upcoming AGM next Thursday 14 October 2021 seems to be a lot of share handouts to staff and the CEO. This angered some share traders when the notice of meeting first came out - so many people only read the first few lines of any motion before reacting!

THE SHARE ISSUES YOU ARE BEING ASKED TO APPROVE ARE:
1. Tianran Guo - the Director of International Operations elects to take 100% of her wage as shares in USCOM and has DONE SO since joining Uscom. [Resolutions 3,4 and 6.]

2. This year, due to strong results in a very difficult year, 8 core staff employees received a one-off discretionary share grant equating to a ~10% bonus. [Resolution 5]

3. Rob Phillips the inventor of the USCOM 1A and Uscom Chairman, CEO and director of Clinical Science – of many years standing, has the choice each year to take one half of his annual salary package in equity or cash.Every year the CEO chooses equity which effectively cannot be redeemed until a significant commercial event. [Resolution 7]
The CEO receives no re-imbursement for the Chairman’s role (typically $100-$200k) or the Director of Clinical Science role ($150-$200K for a medical professor).

I review companies daily seeking new investments, but UCM still stands out in my mind as the one company that has done so much – with so little. And all under the Radar.

In the past – it is this format and underlying faith of key staff and directors of UCM (people who know what is really going on) in the future of USCOM that has preserved cash flow and reduced the need for expensive capital raising and dilution. After 18 years listing UCM has only 156.5m shares on issue yet it has self-financed a major growth phase into a company with an international operation.

I think it would mean a lot to the people involved if you gave them your vote of confidence.

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You're in the know Bingo. Any reason we can't direct our in-patience at resolution 2? Seems to have come on board with Stream Group but they flipped their shares years ago. Not obvious how this director contributes now.

UCM Price at posting: 13.0¢ Sentiment: Hold Disclosure: Held
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