Highly researched and informative opinion there . I predict 1000p based on that kind of useless information bell end |
Looks like 10p on the cards this week? |
Exactly if a group is formed officially and the holders get organised they can exert pressure and actually do things that will have an impact but it needs someone to organise it otherwise it's all just noise and hot air .
It's not a good sign that investors now feel they have to take action against a CEO but he seems to have decided on a course of action that is intended to damage investors but for his own benefit . Time for a change |
 I agree PJ that the LTIP is no longer fit for purpose. I also think you are probably right and that it would take the intervention of major shareholders to force a change. However, I think we should still try. If they are inundated with objections they may take some note simply by the weight of the number of complaints.
James on the Telegram board put an interesting post on the board yesterday, particularly the below paragraph.
“Shareholders of a public company have the right to put their own resolutions before the company's AGM, if the shareholders concerned either:
• Hold at least 5% of the total voting rights.
• Are made up of 100 or more shareholders who hold an average of at least GBP100 paid up share capital and who would all be entitled to vote at the AGM on that resolution.”
I have been a loyal supporter of AGL both in terms of investment and interest in what they are doing. But it feels as though they have crossed a bit of a line regarding the options. There should be no reward for overseeing a collapse in the share price and then opportunistically benefitting if it recovers to pre-January levels. The minimum target share price imo should be the 80p placing price. |
I also agree that the LTIP is no longer fit for purpose, particularly, as the share price only needs to get to around where it was before the business update on 5 January for all of the options to vest giving Andrew Newland shares then worth at least £2 million at no cost to him and I don't think any shareholders would regard that as achieving long term shareholder value.
I hope the emails have some impact but in reality there is unlikely to be any change unless the major shareholders decide to get involved. |
Thanks for these.I'll be emailing them all tomorrow. |
Thanks Spark12 for the correction. Apologies everyone, please note the correct email is j.groen@angleplc.com. |
They won't have lost it. Depositors will be protet |
At least Harry and Meghan have lost nearly all their money which they held in SVB. |
Yes but principle bankers does not necessarily equal all money with them and they may have withdrawn also. |
Same for LTG (but not RWS) |
Their website says SVB are their principle bankers. |
Just to be clear PATT - we don't know that to be the case. |
POLX have all their money with SVB. |
Angle have confirmed to me by email that they held no funds with Silicon Valley Bank / Silicon Valley Bank Uk. |
The below is part of an excellent set of posts by Dflynch on the LSE board regarding the LTIP’s
“How can the problem be resolved?
Firstly, immediate withdrawal of the LTIP and Staff Share Options awards. A future replacement award must reflect the progress made by the Company since the FDA clearance. Such an award should be placed before shareholders – the next AGM might be suitable. Despite being advisory, if less than 50% of share-holders support the intended awards, it should be appropriately revised.” |
Totally agree Spark12. I sent my email yesterday.
Sorry to repost this information, but here is a list of email addresses.
a.newland@angleplc.com
a.holder@angleplc.com
i.griffiths@angleplc.com
g.selvey@angleplc.com
b.howlett@angleplc.com
j.groen@angleplc.com
Edited 12th March 14:52pm to make a correction to the last name on this list. Sorry about the earlier mistake and thanks Spark12 for pointing it out. |
CORPORATE GOVERNANCE The intention of the Long-term Incentive Plan (LTIP), originally established in 2018, is 'to reward tangible increases in shareholder value'. This LTIP, which grants shares free of any cost and at preemptively low vesting prices (ranging from 44.5p to 56.6p) is no longer fit for purpose and certainly not in the face of the massive destruction in shareholder value since June 2022.I will be writing to Garth Selvey, Chairman of the Remuneration Committee and the other members, Groen and Howlett accordingly and I would also encourage other shareholders to do the same. No question, the terms of this grant of LTIP Options in no way aligns management with the interest of long term shareholders nor those of us who participated in the Placing at 80p. |
Bankers are Nat West. |
Interesting set of posts from Dflynch over on the LSE board. Definitely worth a read. |
Let's hope our cash wasn't in SVB.
There could be some interesting announcements tomorrow. |
As for removing him, well, that would have to involve one or more of the institutional holders since it would require sufficient support for such a proposal and, simultaneously, a replacement to be installed.
As for retail holders, in terms of steps for now, I don;t think it will be of any detriment if they write expressing vigorous dissent to the remuneration committee about the performance generally and the incentives linked to the same. |
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