The 25m shares vest over 3 year so he hasn't got any yet. He...

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25/11/22

12:04

Post #: 64986425
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Originally posted by avinvest: ↑

Problem is that he does not need to get the SP to $1 to become wealthy.
His mates have just yesterday transferred 25m shares into his account. For doing what exactly?
Very happy that I was able to recoup a small amount of my large losses from 4c to 6c and that I got stopped out then the other day (learned my lesson).
Think about it; at 6c, those 25m are worth $1.5m (on top of a nice CEO salary). In the last few months they maxed out the full loan and are now distributing what is left in the company to their mates. The MNZ mate got some nice payout, too. And eventually Karl will get the paycheck for selling out between 6-7c, too. Hopefully, someone sues him or they fall over before Karl can cash in (to get the IP/contacts etc. for next to zero (pun intended); hence my stop loss.
In terms of governance, this promising LVT product had so much potential but the BOD has destroyed the entire story (and earned millions along the way). Is there any independent director left in their board now? That this is even possible under ASX rules is something I find hard to understand. Perhaps, I got some of the above wrong and happy to be corrected but I am out, until new/independent management is in.

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The 25m shares vest over 3 year so he hasn't got any yet. He also has to pay for them, though will get a loan from LVT when he does pay on vesting.
I am not trying to defend anyone, though SH's should be happy that in 2 months, we've knocked down privatisation and got rid of 1 key perpetrators of the recent year's fiasco. The other has his role lessened greatly. All they need to do now is pay back their loans

Last edited by ValueSearch: 25/11/22

LVT Price at posting: 5.6¢ Sentiment: None Disclosure: Held
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