Good to see the Wolf is howling, must be AGM time….LOLWhilst on...

Good to see the Wolf is howling, must be AGM time….LOL

Whilst on DD, my review of the recent 2023 Annual Report indicates that Mr. Zardo had his 5c loan shares reset to 8c, which I consider is something that benefits the Company (annual report states the loan was increased to by $360,000 to $960,000), doesn't read someone that’s taking advantage of SH’s IMHO.

As for my take on the issuances of non-recourse loan shares are that they are an incentive, for which the recipients of loan shares (directors/staff) need to deliver outcomes that will make the loan shares worth something IMHO. I’m sure no one will be complaining if Mr. Zardo tips in just under $1m cash into the company to exercise his 8c shares. In general, regarding directors having incentives in the Company, I prefer ZEO’s approach, rather than others ASX listed companies’ I have in my portfolio – that seemingly dish out free shares at will – at least in ZEO’s case the Company benefits with the loan needing to be repaid before the shares fully vest, meaning capital goes into the Company’s balance sheet.

In addition, having been pointed to do further DD, post review of Annual Report, I don’t see any exorbitant directors fees ie $60k pa and Chair is on $100k pa and the MD is on $270k pa (the entire board is paid less that what some company’s pay individuals in non-revenue companies with lower market caps than ZEO’s, from my analysis). So a share-based incentive, which if triggered delivers capital/cash to the company (noting the last issue to directors was 2021) doesn’t seem to be to out of this world.

Clearly and as always when it comes to investment DYOR, HC is filled with varying opinions, just be good if all the facts were tabled…then again that’s when DYOR comes into play. GLTH’s