Mars,
The manner in which the EBIT targets have been presented (i.e., wrt a FY15 base year) is highly unorthodox and the cynic in me tells me that it is designed that way to confound the less-diligent follower of the company.
Certainly, figures of "10% or 15% compared to base year" certainly come across a far more palatable at first glance than does "~5% pa".
PS. For context, I note that IFM has grown EBIT annual rates of by 8%, 29% and 13% pa over the past 3 financial years, so for the board to actively be designing a remuneration structure around a rate that is waaaaay below recent history begs a lot of questions.
At first pass, it smacks to me to being egregiously generous!
(And besides, a pure EBIT number - in isolation - is not a very useful determinant of shareholder wealth creation (management could simply acquire a whole swathe of EBIT at a silly multiple and they will get to where they want to be.)
I have some form in the past of operating in an activist capacity when the circumstances have warranted it.
To that end, I have built a financial model for IFM but I have not followed the executive travails of the business as well I sense you have.
When you have a moment, could you provide a thumbnail sketch of the sequence of events that led to the company coming to the position it currently finds itself, namely with the good guys seemingly sitting on the outside? I am assuming the founder stepped aside at some stage only to have the board morph into something he today finds incompatible with the interests of the company's shareholders.
- Forums
- ASX - By Stock
- IFM
- Richard Graham email regarding Performance Rights
Richard Graham email regarding Performance Rights, page-2
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IFM (ASX) to my watchlist
|
|||||
Last
$1.81 |
Change
0.050(2.84%) |
Mkt cap ! $680.1M |
Open | High | Low | Value | Volume |
$1.76 | $1.82 | $1.75 | $345.0K | 192.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 378 | $1.80 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.82 | 12091 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 378 | 1.795 |
1 | 378 | 1.790 |
1 | 378 | 1.785 |
1 | 378 | 1.780 |
1 | 378 | 1.775 |
Price($) | Vol. | No. |
---|---|---|
1.820 | 12091 | 3 |
1.825 | 104360 | 3 |
1.830 | 10378 | 2 |
1.835 | 378 | 1 |
1.840 | 4378 | 2 |
Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
Featured News
IFM (ASX) Chart |
The Watchlist
SS1
SUN SILVER LIMITED
Gerard O'Donovan, Executive Director
Gerard O'Donovan
Executive Director
SPONSORED BY The Market Online