Ok I've read and re read the terms of the agreement and think I understand what is going on here.
IMO - RT is expecting a big re rate in the price of neu.
At present (if buy back was enacted today)- he hasn't had to fork out any of his capital - and under the scheme he walks away with almost 1.47m shares - pretty good deal.
For example if the share price reaches $10 - he would walk away with just under 1.85m shares - a cool $18.5m - the higher the share price .
This to all play out before resolution being passed at AGM.
giddy up.
Ann: Notice of Annual General Meeting/Proxy Form, page-10
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