OEL 8.33% 1.3¢ otto energy limited

I wrote them an emailDear Sir/Madam, The 2023 Annual Report...

  1. 15 Posts.
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    I wrote them an email

    Dear Sir/Madam,

    The 2023 Annual Report says:

    Mr Herod will be entitled to receive a cash bonus if there is a liquidity event that results in a return of capital to the Company’s shareholders (including a takeover, merger, scheme of arrangement, sale of assets, share buy-back, special dividend, or a series of liquidity events) that arises from the signing of definitive documents during Mr Herod’s employment not later than 1 March 2024. The maximum amount of the cash bonus is US$300,000.

    I bolded a relevant phrase.Could you please confirm that the proposed upcoming return of capital will not entitle Mr Herod to a bonus, unless it so happens that a buyer of (part of) the company signs definitive documents before 2 March 2024.Sorry, I know this is an obvious question, since it is clear from the legal definition of "definitive documents" that it requires a buyer for the company. However, several investors have put forward online a 'conspiracy theory' that an attempt will be made to claim the bonus even in the absence of the signing of such documents. For that reason, I'd be much obliged if you could clarify the matter for me. Yours sincerely, [myname]

    Email was 6 days ago but no response.

    Has anyone else had any luck extracting an answer from them on this point?
 
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