have those performance shares been issued yet? says they are subject to shareholder approval but they weren't in the AGM, nor have i seen an appendix 3b for them.
This is interesting - why disclose that these new directors are entitled to these performance shares, subject to shareholder approval which includes these performance milestones, if the shares have not yet been issued. Does this mean if $50m in funding was secured next week, as these performance shares currently do not 'exist', then they wouldn't vest to ordinary shares? IE - the incentive for the 2 new directors is currently not active or inplace? Can you issue performance shares with these performance milestones retrospectively after funding is secured?
Any thoughts?
