I don’t think there is anything fishy, but I also don’t believe it is a standard options program. I think they issue loans that are later extinguished to avoid recipients having to pay CGT on the issue price. Somebody with a better grip on tax efficient incentive schemes should chime in, but I am fairly sure the loans to buy shares, many of which are later cancelled is about ensuring cgt doesn’t need to be paid till the share incentive is sold.
in any case, look at the figures. They are small potatoes, just a filip for workers who stick around and make their targets.
my suggestion is if you like the company story, buy some shares. Somebody has been buying in multi-hundred thousand lots recently. You might sell because you think you can redeploy funds elsewhere for a better gain, or to pay a tax bill, or for lots of other reasons.
the only reason to buy is because you think the price will go up from here.
"in any case, look at the figures. They are small potatoes, just a filip for workers who stick around and make their targets."
if you look at who getting these incentives its the main shareholders, not the office workers as you implying.
1 Type of buy-back Employee Share Plan buy-back Details of all shares/units bought back
2 Number of shares/units bought back 832,703
3 Total consideration paid or payable for the shares/units 50,000 quoted shares at $0.48 per share 157,703 quoted shares at $0.52 per share 50,000 quoted shares at $0.66 per share
50,000 quoted shares at $1.01 per share
100,000 unquoted shares at $1.34 per share
100,000 quoted shares at $1.40 per share
175,000 unquoted shares at $1.45 per share
150,000 unquoted shares at $1.55 per share, being the prices at which the ESP shares were issued, and satisfied by the extinguishment of corresponding loans from the Company provided to fund the original purchase of the ESP shares.
Name of Director Robert Matthew Barrie Date of last notice 27 April 2018
Part 1 - Change of director’s relevant interests in securities In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part. Direct or indirect interest Indirect Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. Infilsec Pty Ltd (Infilsec) is the registered holder. The Director is the sole director and shareholder of Infilsec. Taipan Investment Management Pty Ltd (Taipan) is the registered holder. The Director is the sole director and shareholder of Taipan. Various – The Director has voting power of over 20% in Freelancer Limited, which has a relevant interest as a result of trading restrictions over shares issued under the Company’s Employee Share Plan (ESP). Date of change 1 May 2018 No. of securities held prior to change Direct holding. Holding in Infilsec Pty Ltd. Holding in Taipan Investment Management Pty Ltd. Various –
The Director has voting power of over 20% in Freelancer Limited, which has a relevant interest as a result of trading restrictions over shares issued under the ESP.
191,435,150 fully paid ordinary shares
1,197,727 fully paid ordinary shares
534,654 fully paid ordinary shares
5,611,617 fully paid ordinary shares Appendix 3Y
Change of Director’s Interest Notice + See chapter 19 for defined terms.
Appendix 3Y Page 2 01/01/2011 Class Fully paid ordinary shares
Number acquired 170,500
Number disposed Nil Value/Consideration Note:
If consideration is non-cash, provide details and estimated valuation $0.4175
No. of securities held after change Direct holding. Holding in Infilsec Pty Ltd. Holding in Taipan Investment Management Pty Ltd. Various – The Director has voting power of over 20% in Freelancer Limited, which has a relevant interest as a result of trading restrictions over shares issued under the ESP.
191,435,150 fully paid ordinary shares 1,197,727 fully paid ordinary shares
705,154 fully paid ordinary shares 5,611,617 fully paid ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back On-market trade
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