G8 Motiv8

http://www.smh.com.au/business/cbd/...y-gold-at-senate-inquiry-20150421-1mphte.html
G8 Motiv8
ABC Learning wannabe G8 Education has an interesting resolution for its investors to consider at its annual meeting on the Gold Coast next month.
To motivate staff, including MD Chris Scott, it is offering an incentive scheme that will issue up to $5 million shares to a "party nominated by Christopher Scott".
Given the loan is non recourse, and interest free, and the idea is to motivate Scott, we would hope that the unnamed party is suitably close to the veteran businessman to serve as an incentive.
This may not be as easy as it sounds.
Scott does not actually own any shares in G8, which is a pity because the share price has more than tripled since 2012.
But associates have benefited from his toil in childcare.
He guaranteed a company loan for his estranged wife, Juwarseh Scott, to buy 2 million shares in 2010.
Last year, Fairfax Media revealed that he transferred the ownership of a company called Geosine to Kimberley Yin.
Geosine later owned up to possessing 20 million G8 shares.
Scott and Yin shared an address, but G8 chairman Jenny Hutson - a long time business ally of Scott's - said at the time that it would be "inappropriate" to conclude that they were close associates.
Scott and Hutson have a close relationship going back to the days of travel group S8, which was built on the same model as G8.
In the case of S8, its mission was to consolidate a fragmented travel industry.
All went well until Scott sold out to MFS - the Gold Coast financier which subsequently imploded amid allegations of fraud.