Ann: Notice of Annual General Meeting/Proxy Form-VRC.AX, page-5

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Cashbacked

546 Posts.

27/10/16

18:54

Post #: 20177816
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Originally posted by Cashbacked ↑

it's interesting to note though, and ill admit this is something i don't know and seek help from someone more experienced:
- Can performance rights be issued to a director if the milestone was actually achieved already prior to the physical date of the AGM?

i.e. based on historical comparisons BatteryLimits usually finishes the PFS approximately 4-6 weeks after the resource update is announced. (e.g. that was what happened with MNS). Hence this is where we are all getting the mid'ish November dates from.

But if there is an intention to create a performance rights based on the release of the PFS, i imagine the performance rights won't count if it happens before they get shareholder approval?

Is it appropriate to now conclude that:
This new performance right milestone means VRC would hold off on releasing the PFS until this is approved?

Looking at VRC's track record of performance rights and when they usually are fulfilled:

Performance rights are typically issued and achieved around 4 weeks after the terms are described.
View attachment 310985

So am i wrong in the belief that because VRC intentionally has issued a new performance rights around the PFS we won't get the PFS in november, more likely at Christmas?

This is all debunked if:
- performance rights can be described and approved 'after the fact' i.e. the milestone event has already happened before the end of the AGM.

I hope its the latter, but even if its not, the fact that there is a milstone around PFS release when repeatedly VRC has announced that PFS is on time for Q4 2016 is a great sign and gives me even more time to top up on VRCO over the next 4-7 weeks

CB

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woops i see now something i misunderstood:
"terms described in the company's notice of meeting dated since" xyz!

That means technically today we have now as shareholders been informed that there is a performance right milestone around the PFS. So they don't need to wait physically for the AGM to happen before it can be achieved.

That means based on past performance right issues, 4-5 weeks from today means we could be getting the PFS by end of november!!

I dunno, but i think its an interesting topic to ponder over.

CB

Last edited by Cashbacked: 27/10/16

VRC Price at posting: 7.5¢ Sentiment: Buy Disclosure: Held
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