Ann: Shareholder Update, page-133

Well thank you to both @WoodySpoon and @Empty Nose for solving my riddle
As for selling for a nominal price, the amount of cash these guys have eaten, SMH.

Woody, the 750,000 performance share each held by Fraser and Gordon were the initial performance shares granted, and it is clear that these have reached their expiry date and have (as yet) been declared as being converted and issued.

It is the 450,000 (each) top up performance shares the were granted based on the original performance shares being devalued post the demerger, and those having a different expiry date to the 750,000.



As far as I can see, the 750,000 Performance Shares have expired, but it wouldn't be the first time these directors have issued expired Performance Shares and/or granted, converted & issued Performance Shares that were IMO questionable re: 6 weeks post Taplin's termination date.


cheers