I see in Alec's ASX announcement that he needed to raise funds...

I see in Alec's ASX announcement that he needed to raise funds to finance tax liabilities. 2,000,000 Chalice shares were borrowed against and with recent trading we could work on a $1 minimum per share. So, something in the order of $2m. to the tax man. It seems that the liability was in the name of Alec's trust company and calculating at the company tax rate of 30% that would mean a company taxable income of $6.5m.
The shares issued arouse from performance rights in prior years (presumably up to 30/6/2023 as the tax year now assessed by the ATO would be for the 23/24 year).
If one looks at the share performance in 23/24 It has dropped from $6.76 (July 2023) to $1.58 (June 2024). - no performance there, a complete lack of performance.
So I wonder if there is any provision in Alec's M.D. & C.E.O. contractual arrangements to refund any of the "performance" of prior years against the current "lack of performances".
I would doubt it.

MM