Ann: Kogan.com - April 2024 Business Update, page-46

Hi VMG,

Nothing to see here,

rather than some contrived conspiracy this was just an exercise of options by the CEO and CFO. they were granted and approved a couple of years ago.

In this scenario, the boys took cash, which suited everyone.

Otherwise they take scrip and selling is more complex, due to corporate governance issues about insider information etc. Likewise, with a buy back, the company issues shares and then buys them back - cumbersome and inefficient.

The cash issue also seems to be a concern to some, as if there is something clandestine and untoward going on.

Cash is a component of working capital and in itself doesn't tell you very much. it has to be viewed in the overall context of how well management are converting sales and likewise managing purchases.

Ordinarily, cash doesn't add any value to a SP and hence is not generally reported, which is the case here. the items that were reported on were the value adding items and areas to focus.

Sorry to crap on, hope this helps your understanding.

Wazz