thank for that Jill, while according to RG's version, he though he bought TIC with a further payment if TIC met certain target, I find it very awkward that they are delaying the order from June to July (new financial year) to finalise it.
in my opinion, it is incumbent within the CEO's duty with such omission and that Sanjay doesn't look like the first time he is playing tax law. In the past, while the price was high at $4.xx range, the bloke pretty much tried to be a cheap shot and buy Pact shares via employee bonus scheme to reduce his tax income and got busted by ASIC and the bloke was forced to sell back shares onto the market. Why does it have to be the issue during end/new financial year hey? Every one can smell it. Should he conduct his job properly and processed the order within June, the target looks certainly met.
Further than that, on the Australian, there was an article about how this RG guy tried to argue the contract manufacturing site was at $0 when he did the take over bid. It's the same issue with his argument with TIC founders that every thing is at $0. For me, I feel that they are re-drilling the practice hope no one knows about their tricks but it is blatantly clear that problem don't occur twice as the co-incidence.
I am saying I feel the order was intentionally delaying to July to skip tax time, and RG's way of scolding someone/something usually start at $0 (I assumed). Further than that, why would Pact claim Group said they bought TIC with contract so they decided pay or not to pay? I mean who is Pact owner really? As RG right now only has 88% and 8 months ago or so he was only having 50% of ownership. So who is Pact Claim Group to have the say of pay or not to pay? I mean I feel those Pact management team forgot the difference between the words of 'management' and 'ownership' do you? Too much candy on the job hey Sanjay that got to be reminded by me to lapse some of your performance right?
Speaking of which, I found that the Michael Wachtel guy (the bloke that keep screaming about acceptance to the offer with loss) got his pay rise. So, everyone sold out before with loss and this guy making triple his salary? W%^##@#!!!!!!
The above are just my opinions so if whoever from Pact read this and feels insult, well a) kiss my a&& b) don't read it hihihi
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