Totally agree PS, it is irrelevant whether or not we agree with...

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Supercat

388 Posts.

1155

30/11/23

20:31

Post #: 71204719
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Originally posted by PS: ↑

There is much misinformation being spread about RHK’s performance shares. I suggest those wanting more details should, 1) thoroughly read the Notice of AGM Annexures A,B &C. 2) If anyone wants more details (which arguably they should) write to Red Hawk requesting the extra information they seek. Ask for the key triggers and targets.

Like it or not the performance share issue was voted on and accepted at the AGM. That’s because both TIO and OCJ supported the resolution. Reading the N of AGM shareholders will note that performance shares cannot be used for voting (until after award). I notice SM performance shares expire in 5 years if targets not reached.

Arguing that the targets are an overly generous gift without knowing what they are is futile (even if you may well be correct). The Board has set the targets and triggers and (maybe unfortunately) have every right to do so.

I agree with that shareholders should have been informed of the targets, triggers and timeframe details. I can see no good reason for Red Hawk to avoid transparency in relation to this.

I understand that a question on the performance targets was made at the AGM with the response that shareholders had already been advised. Shareholders have not been advised although SM has said one of his targets is an SP of $1.20 and (I think) to commence trucking our IO in 2025. I’m guessing there will be more than that. We don’t know if the targets for all eligible RH staff are the same as SM.

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Totally agree PS, it is irrelevant whether or not we agree with the issues regarding the performance shares, they are a fact of life and we simply have to accept them as a cost of doing business.

However due to the potential number of shares involved in the performance rights, I strongly believe RHK must advise all shareholders immediately of all the targets, triggers and timelines that relate to qualifying for these performance shares.

Ultimately we sincerely hope that what is good for the granting of these performance shares will be very good for all shareholders, I certainly believe that will be the case.

RHK Price at posting: 65.0¢ Sentiment: Buy Disclosure: Held
8 Upvote

1 Great analysis

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