yes very strange. I'm guesing either the deal fell over or they are waiting for PPP to make the capital payout then make the T/O :P
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yes very strange. I'm guesing either the deal fell over or they are waiting for PPP to make the capital payout then make the T/O :P
Tommy, share buybacks are not targetted to make the supply demand imbalance and therefore the shareprice rise - this is a short term measure.
It is to purchase shares, at what is deemed to be below "fair value" and thus increase earnings per share on the remaining shares in the future. It's usually used as more of a signal....
As has been discussed on here, the amount of shares is probably going to have an insignificant effect on the share price due to increases in EPS, so I would take it as more of a "signal" more than anything.
so the "signal" is more esop?
Hmmmm ... I need to pay for my new shed but can't decide whether to seel my Bonus Bonds or NOG. They're giving equal returns, but which has the greatest potential for upside?
Just as well you asked that question.I can give you expert advice.Science here,choose a $2 coin.Take heads you keep NOG,tails you keep the bonus bonds,now toss the coin,and you will have the answer.Should you have doubts you may wish to try two out of three.
ps.Welcome to club tosser.!!!
No worries the Israel-US Axis will soon bomb the hell out of Iran, they certainly have ranted on about it now for nearly 10 years, Action must be getting closer.
Result rapid increase in O/P & NZO S/P
Not my desire but odds getting shorter.
Plenty of small cap oilers on the ASX they could be buying that have good permits and negative EV . But then maybe they would have to do some work eh
OFFICE: NZO: New CEO takes up role 09:14a.m.
NZO
08/12/2011 09:14
OFFICE
REL: 0914 HRS New Zealand Oil and Gas Limited
OFFICE: NZO: New CEO takes up role
NZOG (New Zealand Oil & Gas Ltd) confirms that Andrew Knight has signed a
contract and taken up the role of Chief Executive Officer.
He replaces David Salisbury, who had given six months notice in June this
year.
Andrew Knight, who's 41, has been a director of NZOG since 2008. He is also a
director of Powerco Limited and several privately held investment companies.
Andrew's previous career includes senior executive roles with Vector, Natural
Gas Corporation and The Australian Gas Light Company, in addition to roles
with Fletcher Challenge Energy and Coopers & Lybrand.
The ASX Corporate Governance Principles and Recommendations note that
entering into an employment agreement with a senior executive may trigger a
continuous disclosure obligation under ASX Listing Rule 3.1.
A summary of the key terms of Andrew Knight's employment agreement is
therefore provided.
Key terms of employment for Chief Executive Officer of New Zealand Oil & Gas
Ltd
1. Appointee: Andrew Knight
2. Contract duration: Indefinite term
3. Commencement Date: 7 December 2011
4. Remuneration: Base compensation of NZ$510,000 per annum
Short term incentive: A Bonus Scheme is operated under NZOG's Remuneration
and Performance Appraisal Policy. Any payment of a bonus to the CEO is at the
absolute discretion of the Board and will be assessed based on performance
against NZOG's business plan objectives.
Long term incentive: NZOG operates an Employee Share Ownership Plan. Subject
to approval at a meeting of shareholders, the Board intends to offer the CEO
the right to subscribe to up to 3 million partly paid shares with a final
issue price of $1.00 per share.
Other terms: The employment agreement also includes standard terms covering
confidentiality, termination, redundancy, restraint upon termination of
employment and conflicts of interest.
End CA:00217419 For:NZO Type:OFFICE Time:2011-12-08 09:14:51
© Direct Broking Limited 2005.
500k salary..... ok.
3 million part paid shares with final issue of $1.
haha
so if he gets the sp back to the old option price of $1.50.
he makes $1.5 mill profit!
not a bad deal
and most shareholders will STILL be out of the money.
just as well we have share buybacks