Voted No on all the share option motions.
The company has provided no accounts to shareholders, no updates on the IPO timeline & failed to define any sort of long term strategy or targets for the company.
All we know is that they are currently processing 1-2 tonnes of CPUs a day (365-730 tonnes p.a) & the 'capacity' of the Villawood is 60 tonnes a day (22k tonnes p.a.).
How long will it take for Villawood to reach capacity?
Will that be before or after any IPO?
What volumes are required to reach breakeven & the EBITDA option targets?
In my opinion not only do the option targets appear too soft but also shouldn't vest until after any IPO or trade sale is triggered.
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Voted No on all the share option motions.The company has...
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Simon Kidston, Non Executive Director
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Non Executive Director
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