In summary from the exercise of performance rights, and sale of shares, he ended up ~$594k out of pocket after tax, and with 20.5mil PCK shares in 12 months voluntary escrow. Clearly the market misunderstood what happened there.
Eg/ Daffas
Transaction 1
Exercised 40,999,162 options at an exercise price of $0.02. - Consideration $819,983
Market value at time of exercise - $10,659,782
Capital gain = 10659782 - 819983 = $9,839,798
Pre tax Cashflow -$819,983
Transaction 2
Daffas sold 20499581 shares at $0.20 - Consideration $4,099,916
The cost base of these shares was $0.26 - Consideration $5,329,891
That is a capital loss of $1,229,974
Pre tax Cashflow +$4,099,916
Balance
Impact on PD's tax = 9839798 - 1229974 = $8,609,824
Assume PD is paying 45% tax rate, he would owe the ATO $3,874,420
The cashflow from the exercise of the options, and sale of the shares was $3,279,933
Cash flow after tax for PD -$594,487
So, after all of this, PD ended up $594k out of pocket, and holding 20,499,581 PCK shares in 12 months voluntary escrow.
https://www.ato.gov.au/general/capital-gains-tax/shares,-units-and-similar-investments/rights-and-options-to-acquire-shares-or-units/work-out-the-correct-treatment-of-rights-or-options/
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Mkt cap ! $58.88M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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3.6¢ | 187819 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 964727 | 0.033 |
4 | 587746 | 0.032 |
4 | 522340 | 0.031 |
5 | 3822000 | 0.030 |
Price($) | Vol. | No. |
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0.036 | 187819 | 2 |
0.038 | 927589 | 2 |
0.040 | 50000 | 1 |
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