Can someone with accounting or legal expertise clarify this please?
As I understand it, the directors had a large number of options on shares that were converted last financial year. The company provided a loan facility to the directors to convert options and own the shares. While they have not paid money to the company, they are now debtors to the company. As such, each director has a liability to the company and would be expected to pay the loan back.
It would be no different to me getting a bank loan to buy shares?
A number of directors have loans for their shares of 100s of thousands of dollars to the company - doesn't this indicate confidence?
Can someone with accounting or legal expertise clarify this...
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