let us set you right here belowaverage to get back on par Firstly there is no (sic) jim grahame secondly no insider “dumped” shares Founder Dr grahame melrose offered just some of his large holding into the recent strongly over subscribed capital raise Conducted at $1.30 - the company didnt want to issue more new shares to meet the demand and thereby both overprovide cash needs for the next two years. The company did also not want to unnecessarily further dilute existing shareholder value per share. By accessing just a portion of the founding shareholder shares it allowed him to finally realise some monetary value through his building of this soon to bevgreat company. At age 87 with health issues who could possibly begrudge him that?
in addition , if you refer to recent announcements you will ascertain that his holding of shares actually rose despite that sell down in the cap raise. performance hurdles were well exceeded over his period as chairman and were duly allocated progressively under asx term asn conditions. all these performance share hurdles and amounts were approved by shareholders some years ago. As the company has had and continues to have a very modest executive cash remuneration scheme these performance share allocations should be seen as both appropriate and unduly excessive compared with industry standards.
hope that brings you up to par while the company continues to sink holes in one ( aces birdies and albatrosses galore !) ha ha lol
RCE Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)