Quick correction guys, The 17,500,000 is included in the...

First 2 Last

Share
Profile

Follow
lukeyc88

120 Posts.

21/12/16

10:52

Post #: 21481844
Share

Originally posted by lukeyc88 ↑

Hey guys,

Does anyone know where data can be found in relation to who owns SAS at the moment?

All i have been able to find so far is on Comsec showing 3 of the board members holding 17.85% each which is out of date.

Bit worrying that management own 53.55% of the company. Means any remuneration they can just vote yes. If a potential buyer for the company came along they could agree to sell out their shares at well below market price (since they wont care because they were granted them and they could not hope sell their shares and maintain that price with 53.55% of stock on the open market)

Its a slight vulnerability moving forward that concerns me. You want management to have a stake in the company but not control of over voting rights.

If you take that last remuneration package that just went through and work out the dollar value of it if share price was 8.5c it works out to nearly $6 mil.

(52,500,000+17,500,000) x 0.085 = $5,950,000.00

I'm using 8.5c because that's what the placement and priority offer was at and what i believe fair value is.
Given we just raised $5mil from a placement i think paying yourself nearly $6 mil in stock is a bit rich and that is on top of what they are getting paid.

Its only on paper and only shares but that still effects my PB ratio. It still effects any future dividends. It still keeps up their voting rights.

But this is old data I must stress so if any ones got more recent data on SAS ownership that would be fantastic.

Expand

Quick correction guys,

The 17,500,000 is included in the 52,500,000.
So 52,500,000 is the total granted performance shares.
Still that is a $4,462,500.00 worth of shares if the share price is at 8.5c granted to themselves after raising $5,000,000.00 from a capital raise.

Last edited by lukeyc88: 21/12/16

SAS Price at posting: 7.5¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

CCO

The Calmer Co FY25 revenue hits $8 million, up 86% on FY24

GLF

Gemlife used the ASX's new IPO fast-track. Is this the start of a new cycle?

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

ASX Market Close: Local bourse dips red as CBA profit takers swoop

Trump chides Powell as Goldman call for calm. The RBA must be nervous

First 2 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Quick correction guys, The 17,500,000 is included in the...

Top Stories

The Calmer Co FY25 revenue hits $8 million, up 86% on FY24

Gemlife used the ASX's new IPO fast-track. Is this the start of a new cycle?

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

ASX Market Close: Local bourse dips red as CBA profit takers swoop

Trump chides Powell as Goldman call for calm. The RBA must be nervous

Featured News