THE STAR ENTERTAINMENT GROUP LIMITED (ASX:SGR) - Place my bets, Star Entertainment Group Ltd - ASX: SGR, 74923012, page-1059 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by Raeman: ↑

I can't tell if this chick Myriam is bitter or being sweet
Steve McCann’s big London trip
Myriam RobinRear Window editor
Jul 25, 2024 – 5.14pm

Listen to this article
3min

The stupendous generosity of the Star Entertainment board towards would-be saviourSteve McCannhas been duly noted.
This is a man receiving a $2.5 million cash salary, a $7.5 million sign-on bonus, a $2.5 million retention bonus (paid in FY26), and a no-hurdle, short-term incentive bonus worth $5 million at today’s (rock-bottom) prices. Even better, when Star invariably raises more capital, he has dilution protection.
If onlyRobbie Cookethought to negotiate that! McCann’s predecessor raised $1.55 billion for the company and the only party ultimately profiting were the bankers at Barrenjoey,up $21 million(last year’s biggest ASX disappointments ended up being themost lucrativecompanies for their bankers, which just shows everyone else is in the wrong line of work).
How did McCann get all that? Leverage! Star was desperate to have him, and as soon as possible. We know that because, as it turns out, he wanted to start in August, due to a long-standing offshore appointment. He didn’t get everything he wanted, but was no doubt duly compensated for the inconvenience of a quick start.
As it was, McCann took the reins of Star Entertainment on July 8. And on July 15, he was off to London for the week on a prior arrangement he had long flagged to the board. We’re vehemently told it was not a holiday: seems he worked the whole time.
Steve McCann: well-rested, before his London trip. Dominic Lorrimer
RELATED QUOTES
SGRThe Star Entertainment Group
$0.495-1.98%
1 year 1 day
Jul 23Oct 23Feb 24Jul 240.2500.5000.7501.0001.250

Updated:Jul 25, 2024 – 11.16pm.Data is 20 mins delayed.
ViewSGRrelated articles
His absence from HQ was duly and widely noted. It would be. Star doesn’t have good weeks lately, but this one wasn’t uneventful.
As McCann boarded his flight, the casino company had just switched off poker machines in three venues after identifying a “system performance issue”, in an outage that ended up lasting four days. By the end of the week, Star was bracing for the public release of a report, from last October, by Star special managerNick Weeks, which lashed the company for “modest” progress on cultural reform, and its then-board for its “passive” approach and absence of “deep casino industry operating experience”.
Such concerns, now vividly and widely available, are what prompted Star’s chairman and CEO to plot to oust the special manager. The revelation of that scheme felled both Cooke and then-chairman David Foster, who was replaced by his (non-woke) board colleagueAnne Ward.
The point is, there was a bit going on, and McCann couldn’t well opt out. We’re told he attended 10 internal meetings, had multiple external catch-ups, and even interviewed candidates for the vacant general counsel position. And in the midst of all that, he surely made inescapable London commitments, sleep-deprived, having also kept antipodean hours for the sake of the company paying him a king’s ransom to save it.
We thought, upon his appointment, that McCann looked the perfect picture of health: trim, happy, rested. No wonder he didThe Australian Financial Reviewphotoshoot before his trip. Even flying first class; imagine how exhausted he is now.

Expand

I agree, its just a fill in space news article.
Nothing of value for the shareholders.
The CEO is in London, which was pre-arranged personal matter, but he is still working.

No.	Vol.	Price($)
4	5066950	21.5¢

No.

Vol.

Price($)

5066950

21.5¢

Price($)	Vol.	No.
22.0¢	1782643	15

Price($)

Vol.

No.

22.0¢

1782643

No.	Vol.	Price($)
4	5066950	0.215
88	4293612	0.210
82	3609249	0.205
183	11190485	0.200
31	1550592	0.195

No.

Vol.

Price($)

5066950

0.215

4293612

0.210

3609249

0.205

183

11190485

0.200

1550592

0.195

Price($)	Vol.	No.
0.220	1782643	15
0.225	1884275	17
0.230	1924809	25
0.235	1586352	13
0.240	1501545	29

Price($)

Vol.

No.

0.220

1782643

0.225

1884275

0.230

1924809

0.235

1586352

0.240

1501545

(20min delay)
Last 21.5¢		Change -0.005(2.27%)		Mkt cap ! $616.7M

Open	High	Low	Value	Volume
22.5¢	22.5¢	21.0¢	$4.558M	21.07M

I agree, its just a fill in space news article.Nothing of value...

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Aerospace smallcap Quickstep Holdings jumps nearly 100% after 40cps takeover offer

Pantera begins drilling of maiden test well at Smackover

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

I agree, its just a fill in space news article.Nothing of value...

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Aerospace smallcap Quickstep Holdings jumps nearly 100% after 40cps takeover offer

Pantera begins drilling of maiden test well at Smackover

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News