Market is telling the story with the uptick in volume and a heavy sell side evident this morning. Potential to be buying here under 1c unless someone comes to the rescue soon.
If existing shareholders don't take up the offer it's probably the best chance they've got to get some fresh blood on the register. Case of damned if you do, damned if you don't though, especially when facing the issue of another 61,000,000 shares under the equity incentive plan.
In my opinion, any equity incentive plans should be thrown out the window until this company can demonstrate an ability to stop destroying existing shareholders equity. If employee incentives are needed, fund them.
Darren Cooper continues to live the dream. A 9% increase in Directors fees from 21 to 22, re-election imminent and more shares on the way. Hardly seems justified in the context of the Group 5 year earnings shown below, but he's only been there since 2017 so lets be fair and give the man some time.....
I'd encourage the board to check the course of sales this morning. You all own it, and it's likely valid feedback from retail 'non-insiders' on how they see they are being treated.
Oh, to be a fly on the wall in the Remuneration Committee meetings.
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