If you work out say a 10c div on the 2.18m shares at top tax rate grossed up it more or less works out to the interest rate. Essentially no money down for 2.18m shares $1.85m in the money, with divs paying the interest.
Based on the details disclosed it seems terms to pay back $3.27m principle is within 5 years or upon sale of shares. In other words he could excersise and sell all of them for a pretax profit of about $1.85m. Thats my understanding.
Ann: Notice of Annual General Meeting/Proxy Form, page-11
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Last
$1.21 |
Change
-0.040(3.20%) |
Mkt cap ! $252.1M | |||
| Open | High | Low | Value | Volume |
| $1.26 | $1.27 | $1.21 | $254.7K | 203.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10229 | $1.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.27 | 5435 | 2 |
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| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| SVR (ASX) Chart |