Originally Posted by
neville_nobody
$5.96 is how they calculated their share entitlement. They will get the calculated number of shares regardless of the price in July. If the share price is $12 by then they will have received 2x their salary. The reality is they don't have to sell them then anyway, they can just hang on and wait for a better price if it is still low by then.
yes they have put in a certain amount of money, from around $16k to $90k which when divided by 5.96 gives them the number of rights they have purchased which in 6 months will be converted to the same number of shares. Regardless of the price the shares are trading for at that time.
I think people are missing the main point here. 5 directors, people who are supposedly been chosen for these well paid jobs for their experience and business acumen have made a breathtakingly incomprehensible error.
these 5 , only a few weeks ago chose to spend their own money effectively buying shares for $5.96. The closing price on Friday was $2.36.
Did they make a sound decision.
it is obvious they have been completely blindsided by this virus and it’s impacts on Qantas. How could that possibly be. Given how much we knew then. We saw what was happening in China. There were already cases in many other countries including Australia.
do you think any of these five still deserve to be directors if they thought the share price of Qantas and therefore the business of Qantas would not be materially affected. Look at what has been announced regarding capacity cuts. And more is to come once lockdowns are put in place. The share price then will be $1.36 not $2.36.
they all need to resign or be removed at the next AGM . And should never be directors of any company ever again,
their names are;
James Todd Sampson. Who can wear a black t shirt well but that’s about it.
Paul Ashley Rayner
Belinda Jane Hutchinson
Jacqueline Cherie Hey
Richard James Barr Goyder