BCS brisconnections unit trusts

winding up, page-4

  1. 30 Posts.
    There is a clause in the PDS that states Rowe must receive 40% of his $210k salary as Brisconnections shares. What the PDS doesn't say is when those shares should be brought. At the moment 40% of his salary is going into a trust account and the shares will be purchased around the end of June - after the first installment.

    Bolton could include a motion at the meeting that the accumulated defined salary component for Rowe and the other directors should be used to buy Briscon shares IMMEDIATELY. That might not solve any of the fundamental problems, but at least it would make Trevor Rowe MUCH more sympathetic to the plight of shareholders once he is personally facing the same financial oblivian as the people he has been threatening with debt collectors.

    That motion should be much easier to pass than the wind up motion, and could be another bargaining tool.
 
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