The Company provided an interest free loan to the Directors and Employees to enable them to acquire the shares under the Loan Funded Share Plan. The total amount of the loans outstanding is $43,618,925.
If staff etc do not meet their targets, the board just changes them. That is disgraceful and in my opinion the board should all resign !!
Also from the AR:
Tranche B i) The original condition was that Defence Systems profit exceeds A$20m for 2020, however this was removed by the Board in accordance with its discretion due to COVID; ii) Space Systems profit exceeds $1M for 2020 and $3M for 2021; iii) Defence Systems production exceeds 272 units or 2020. The production target for 2020 was originally 480 units, however was varied by the Board to 272 units in accordance with its discretion due to COVID and has been met.
EOS Price at posting:
$4.31 Sentiment: None Disclosure: Held
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