No you're correct the first 5m will lead to his performance rights right up until end 2018 wherein he will have to purchase 5m shares out of pocket, however he could do that tomorrow if he so wishes. Important to note that he would only have to hold said shares for one day in each stated timeframe to earn the performance rights technically, so he could buy and sell throughout the period (I doubt he would do this) but he must remain chairman from start to finish - this is the important part
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