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OBJ appoints Paul Peros as CEO of new device business, page-41

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Longman

1,100 Posts.

88

05/06/19

23:02

Post #: 38929849
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Originally posted by cmk1969 ↑

I don't read it interpret it way at all Pman.:

'
Re-read

The Service Agreement with Mr Peros is a full-time engagement. Remuneration will commence at EUR 30,000 per month to be paid by a
combination of cash and ordinary shares
with EUR 24,000 in cash and EUR 6,000 in ordinary shares. The
equity component will be provided to Mr Peros twice annually at a 30-day VWAP value discounted by 10%.
Subject to the achievement
of the following milestones, Mr Peros will be entitled to a six-month bonus:• The first milestone target is the commercial go-live, and first sales of devices; and• The second milestone target is the cumulative positive cashflow from operations of the device business.

There is a full stop after the '10%', which indicates the 'bonus' is in addition to his 'Remuneration'. He receives EUR 24,000 each month & EUR 6,000 X 6 months each half year calculated @ 30-day VWAP value discounted by 10% + he receives a 'Bonus' based on the Milestones; that once again in good 'ole OBJ fashion seem murky.

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Hi CMK, he reached nearly US$2bn revenue in 6 years as the CEO of his last company. It wouldnt surprise me if he does the same in half the time second time around. Probably see him bring over a few key people to help also..

.

OBJ Price at posting: 1.6¢ Sentiment: Buy Disclosure: Held
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