Given that the Vertigo side of the business had a loss of approx...

Given that the Vertigo side of the business had a loss of approx $600k for the first half of the year up to December 31, 2006 I am inclined to think that the first 10 million performance shares for Trigger point 1, 30/6/2007 are likely to lapse. It would be a remarkable performance for Vertigo to come up with the required $250k profit by that time given the loss in the first half in order for them to be awarded those shares under the agreement.

Then again, if as some on this thread have alluded too and Vertigo is a baby of John Donnison then he certainly will not want those shares to lapse. I cant find any evidence that JD is directly associated with Vertigo however, all announcements claim the business was owned by Arthur Lo, Adam Whitford and Colin Stewart. Even so, these guys will be desperate to claim those shares or effectively the sale price of Vertigo will diminish.