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2.82%

7.3¢ archtis limited

Agree.Happy for management to be rewarded when there's a...

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rasaj

1,832 Posts.

234

24/10/23

21:41

Post #: 70515871
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Originally posted by tropic: ↑

I agree, the performance bar is set very low - too low
Recurring revenue of just over $4M and total revenue of just under $8.7M for year 30th June grants 50%. I wouldf have expected a total revenue figure of at least $10M with at minumum 60% of that being recuring.
Positive net cash flow by 30th June grants 30%. I think min cash flow+ve of at least $0.5M
Gross margin >= 60% (which was achieved last year) sets no incentive to perform.

Add to that granting AR9O16 - Unlisted Options ($0.0792, expiring 3 years from date of issue). That's about 8c conversion price in 3 years. Well I certainly hope that in 3 years the share price is well above 8c. The conversion price should have been set at 50c given the 3 years. I would expect share price in 2026 to be over $1.

This is a very soft performance bonus package.

It's a "NO" from me for Resolution 4.

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Agree.

Happy for management to be rewarded when there's a material uplift in performance.

My back of envelope suggests circa $10m in revenue should already have been locked in prior to last EOFY.

Therefore, imo hurdles too low.

Will vote accordingly, unless management decides to materially increase the performance hurdles.
AR9 Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 7.3¢		Change 0.002(2.82%)		Mkt cap ! $20.63M

Open	High	Low	Value	Volume
7.1¢	7.3¢	6.8¢	$40.05K	566.0K

Buyers (Bids)

No.	Vol.	Price($)
2	160542	6.9¢

Sellers (Offers)

Price($)	Vol.	No.
7.3¢	46561	2

View Market Depth

No.	Vol.	Price($)
2	160542	0.069
1	30000	0.068
1	200000	0.067
2	17650	0.066
1	10000	0.065

Price($)	Vol.	No.
0.073	46561	2
0.080	298818	5
0.083	24240	1
0.085	14776	2
0.095	64943	2

Last trade - 15.22pm 16/08/2024 (20 minute delay)

AR9 (ASX) Chart