Lupus Capital Share Discussion Threads

[smicker] 24/11/2010 14:01

Our CFO

Prior to joining Lupus, James was a Director of UK Investment Banking at Citigroup in London, having previously worked in investment banking at HSBC. He qualified as a Chartered Accountant (ACA) with Ernst and Young in London.

For ( more ) information

Hes only on 200k

[a0148009] 24/11/2010 13:54

Skimming through the LTIP documents there appears to be many opportunities for amendments to the hurdles. Afraid I am out of touch with these schemes as to how it compares with other corporate schemes - any experts out there.

AO

[smicker] 24/11/2010 13:49

Under the terms of a service contract entered into on 20 July 2010, Louis Eperjesi is entitled to remuneration of £300,000 per annum which comprises a base salary of £250,000 per annum and a cash allowance in lieu of pension and benefits of £50,000 per annum. Mr Eperjesi is also eligible to participate in annual bonus arrangements and any long-term incentive scheme and is eligible for life assurance, membership of a private medical expenses arrangement and permanent health insurance cover.

So this 300k plus package isnt enough incentive then

[a0148009] 24/11/2010 13:28

Here is the link for anyone who wants to read about the Bonus Plan and LTIP.



AO

[jeffian] 24/11/2010 12:31

If "major shareholders" think the LTIP stinks, surely the answer is for them to flex their muscles by voting against it rather than selling and scurrying away?

[smicker] 24/11/2010 12:21

I'm talking about the LTIP not the company

[smicker] 24/11/2010 12:12

Serious deals going through today. Looks like some of the major shareholders think this stinks

[glavey] 19/11/2010 11:37

"Maybe OK compared to 2010 earnings..." ?

OK for the recipients! It's a retrospective award.

'Teaser' in respect to 2011 to get it voted through.
...revert to it's principal shareholders... in excess of 50%

Oink, oink.

[jeffian] 16/11/2010 18:09

From RNS -

"As a result of the review and following consultation with the Company's principal shareholders (major shareholders holding approximately 60 per cent. of the Company's issued share capital) and shareholder representative bodies, the Directors propose the introduction of the LTIP."

[zooter11] 16/11/2010 17:38

Well the big operators seem to like the company.I wonder what % of shares are tied up with G.H and the big investors.

[topvest] 13/11/2010 20:51

I'm voting no on the circular.

[jeffian] 13/11/2010 17:45

Well I certainly agree with the last bit!

[smicker] 13/11/2010 12:56

jeffian,
I dont agree here re eps which i believe is clearly manipulated by many management teams. I want to see cash generation and particularly the cash returns to shareholders as the basis for all managemnet returns. If we cant receive a dividend because there isnt enough money there should be no extra money for management either

[jeffian] 12/11/2010 23:34

Having read the LTIP document, one of the things that heartens me is that the performance criteria are linked to earnings per share rather than anything to do with the share price or 'Total Shareholder Return'. IMHO it is entirely correct that the Board should focus on eps - the one thing they can influence directly - rather than the share price which varies at the whim of the market. Boards should focus on revenue, profits, eps and divis and let the share price look after itself; if they get the first bit right, the rest will follow!

The only thing I'm not so sure about is that the eps target is 38-47p over 3 years (i.e. 12.66p-15.66p/year). Maybe OK compared to 2010 earnings but remember that underlying earnings in 2007 and 2008 were 14.2p! Back to the future?!

[a0148009] 12/11/2010 15:10

Don't know am wondering if it is a matched sale and purchase of 1.8m either side.

AO

[smicker] 12/11/2010 13:10

Where has the volume come from?

[topvest] 11/11/2010 21:39

Time to get GH back?

[jeffian] 11/11/2010 19:46

All I'm asking for is a bit of clarity. If they've covenanted with the banks not to pay a divi until certain hurdles are achieved, let's know what they are. It's hardly commercially sensitive. Maybe the interests of shareholders and Directors would be aligned if the LTIP were linked to the restoration of the divi!

[tuning peg] 11/11/2010 19:11

As per my post 4007 the company is not generating piles of cash to pay down its debt - we need some better news in H2 - resumption of divi is a long way off in my opinion. However as I ever I'm still a long term holder, my breakeven post the Greg era is 120p, will we see this in the next 6 months?

[jeffian] 11/11/2010 16:19

I still feel the Board need to be far more open about when it is "appropriate" to begin paying divis again -
"As previously stated, the Board is committed to the resumption of dividend payments, once permitted by the Group's banking arrangements, and when it believes it is prudent to do so, taking into account the Group's earnings, cash flow and balance sheet position."
The company continues to make money and generate cash; the banks have had their pound of flesh on refinancing; staff are being paid; the Directors now feels they need 'incentivising'; meanwhile.........the poor old shareholders are mostly still underwater and have had no return on their capital for 2 years. Never mind LTIP - what are they going to do for us?

[smicker] 10/11/2010 21:20

Have to say this really sticks in my throat. These directors have come in and admitted the company was in rude health in the circumstances and the previous team had made the hard decisions when required. I havent seen anything attributable to them but, rather than do something of note to progress the company, their first action is to award themselves more money. I've just had wipeouts on LNG and Rok due to directors misleading me and now this.