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The article quotes Joe Aston and fails to acknowledge that a) the ASX report is actually a statement of reasons not a report and
b) No performance shares have been sold by JK or the directors. It seems that JK was just about to do this (but didn't at $1.70 curiously) without any evidence to support this claim.
I do agree with the author that disclosure could have been better. However cancellation of shares requires a higher level of proof beyond unsubstantiated allegations.
I would also add that the comment that JK and interests diluted shareholder interests fail to acknowledge the five times + increase in SP that was created following this event as the company grew into positive ebitda territory. I would say that more than compensated for the dilution.
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