'Surely this is insider trading or deception of shareholders, is it not???'
Definately not. They sell shares within the ASX's Guidelines. This is exactly how our Australian Stock Exchange (ASX) operates and many others around the world. All Directors of companies when setting Performance Milestones (PM'S) are obviously way ahead of the exponential curve when it comes to Company Knowledge, progress and potential outcomes. They set PM's based on achievable probabilities. In the case of OBJ, historically they have all been predominantly 'commercially insignificant' PM's from a Shareholder wealth creation perspective since inception and imo should most likely have been perceived from their inception as 'business as usual', with remuneration by way of existing salaries/options (with realistic exercise prices). Some of these past PM's may be deemed as necessary baby steps, which may have led too the beginnings of a commercial outcome 10+ years later; but the majority imo will remain a steep learning experience for all Shareholders and this we MUST learn from.
Remember, Directors are appointed internally and Shareholders have no say in the genesis of a new Director. But Shareholders CAN & DO vote Directors out for an array (pun intended) of reasons.
I have simply highlighted that there appears to be a Pattern over the last decade and a half, where 2 out of 3 Performance Milestones are regularly hit. And remember, WE Shareholders approve the Performance Milestones. So that means you as a Shareholder Desco have been and are currently part of the Pattern; especially if you choose to not voice your opinion by way of voting rights and assume that it will be taken care of. It won't.
Knowledge and Information should empower us all to become better versions of ourselves; not just personally but as Shareholders too. It was simply a post to remind OBJ Shareholders that WE ultimately have the final say collectively as to which Director's stay and which PM's are set. We always have. But for some reason Shareholders often get bedazzled by a mixture of clever wordsmith's, amnesia, denial and a lack of self worth. WE DO hold the power and it is well worth remembering when the next set of PM's are put forward.
Think of it this way; as an OBJ Shareholder WE need to apply some of the new technology that P&G have added to the Olay Magnemasks Sheet Masks -
SMART RELEASING TECHNOLOGY which will transform the thoughts in our minds to verifiable actions and thus assist in the transformation of OBJ for the better. Thanks P&G and OBJ for the analogy. As OBJ Shareholders we need to be Smarter too. It is time.
(20min delay)