Had this extension been voted down, 50M shares would have been put onto the market early next year which would have only driven the SP down even further. Additionally, these loans are a bonus scheme that has absolutely no recourse to the Pivacs. Any shortfall in value would be taken on by the company and not the Pivacs.
I get your point about them not deserving rewards etc, but this is a bit of a non issue and in reality it serves to only motivate them to get the SP higher.
Ann: FBR 2021 Results of Annual General Meeting, page-8
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