Interesting to note the performance share hurdles on this...

Interesting to note the performance share hurdles on this transaction...I like these hurdles.

Just speculating but....if GAL sign up Telstra and Channel 7 for ongoing AFL coverage and Olympics coverage, one would think the first milestone could be within reach given the advertising $$$ involved??

Then if the Chinese lead is closed....who knows!

Given the scalability of the technology and low cost of sales....and GAL's statement about their "partners" paying for OpEx.... we'll be looking at +5c if the first milestone is met.

Short term, ASX requires 2c minimum for re-listing - GAL have indicated share consolidation will NOT be required......somehow the share price needs to lift above 2c   [insert major ann here before Sep 22].


(Performance Shares) – up to 1,035,714,286 Performance Shares, being: o 178,571,429 Class A Performance Shares in the capital of GAL that convert into GAL Shares on a one (1) for one (1) basis in the event that the earnings before interest, tax, depreciation and amortisation (EBITDA) is greater than or equal to $5 million (in any rolling 12 month period) within two years of completion of the Acquisition;  

214,285,714 Class B Performance Shares in the capital of GAL that convert into GAL Shares on a one (1) for one (1) basis in the event that the EBITDA is greater than or equal to $10 million (in any rolling 12 month period) within three years of completion of the Acquisition;

285,714,286 Class C Performance Shares in the capital of GAL that convert into GAL Shares on a one (1) for one (1) basis in the event that the EBITDA is greater than or equal to $15 million (in any rolling 12 month period) within four years of completion of the Acquisition; and

357,142,857 Class D Performance Shares in the capital of GAL that convert into GAL Shares on a one (1) for one (1) basis in the event that the EBITDA is greater than or equal to $20 million (in any rolling 12 month period) within four years.