anyone following this co. read somewhere :
Regarding the retirement of our CEO, will Mark be required to liquidate $887k worth of shares purchased (alternatively he could pay the balance of the loan) as a loan from the Company under the executive share plan. From the Company Annual Report, it states that: "Regarding the Under the Loan Agreement, the borrower shall repay the balance outstanding of the Outstanding Principal when the borrower ceases to be an employee or director of the Lender". I note that the board deferred the repayment of loans from Peter Tripodi on termination to 2012. Whilst I appreciate and regret Mark leaving the company after doing such a fantastic job, I hope the board have no intentions of giving interest-free loans to ex-employees.
anyone know if this is legal and within ASIC's jusridiction?
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