Any long term holders considering voting Yes to the performance rights for non exclusive members should consider that they have 5 years to reach these milestones.
The consensus around these forums is for Willesee out and to be replaced with BOD who can transform NZCS into a big player. It seems that with the appointment of Phillip Wilson and Peter Fletcher they are starting this process early while the company is in its infancy.
Between all 3 Non-Executive members, they hold approximately 2mill shares. These 3 members can’t do anything to the share price by selling 0.25% of the company they currently own.
If these goals are successfully reached in the future they will have more voting power and our shares become diluted and less valuable if voted yes. If they were buying on market while the share price was low it would give me a lot more confidence, tho they really seem to want a cheap ride on others hard work.
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WHY IS NZCS HANDING OUT 40.5 MILLION 'NON PERFORMANCE' RIGHTS?, page-13
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