ATM - A2 Milk Corporation Limited

**bull....** · 11-10-2018, 12:43 PM

her timing was impeccable

**Sideshow Bob** · 11-10-2018, 12:50 PM

Very much a copy & paste response - and no signing of any name at the end of the email, which I find poor.

**minimoke** · 11-10-2018, 12:55 PM

Originally Posted by Sideshow Bob

Very much a copy & paste response - and no signing of any name at the end of the email, which I find poor.

I got the name, and phone number when I enquired of Synlait. Seems ATM has a bit of learning ahead.

**see weed** · 11-10-2018, 01:03 PM

So a2 paid for Jet stars remuneration package to JH. Why didn't a2 wait until she had finished her time with JS, then take her on as CEO after her remuneration package?

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**couta1** · 11-10-2018, 01:14 PM

Originally Posted by see weed

So a2 paid for Jet stars remuneration package to JH. Why didn't a2 wait until she had finished her time with JS, then take her on as CEO after her remuneration package?

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The 4 million dollar question is why on earth did they appoint her to the role full stop, as I've said before square peg versus round hole.

**Ted2** · 11-10-2018, 01:23 PM

Originally Posted by Sideshow Bob

This is the answer to my email to A2 milk re CEO sale of shares:

Thank you for your email and interest in The a2 Milk Company, your comments have been noted.

Although we cannot comment specifically on Jayne’s personal financial situation, we would take this opportunity to provide you with the following information with respect to Jayne’s remuneration package and recent share sale:

Jayne’s remuneration package included one-off transitional entitlements compensating her for entitlements from her previous employer that were forfeited when she agreed to join The a2 Milk Company. These one-off transitional entitlements included a mix of cash and equity interests in The a2 Milk Company.
The transition entitlements (in The a2 Milk Company) were structured to replace the entitlements (in her previous employer) that Jayne forfeited when she agreed to join The a2 Milk Company. The equity entitlements in The a2 Milk Company that have vested replaced the equity entitlements in her former employer that would have vested at the same time had Jayne not left that business to join The a2 Milk Company
Jayne sold the shares that she received on vesting to fund tax obligations relating to the automatic exercise of her equity entitlements in The a2 Milk Company and other commitments that she entered into before agreeing to join the company. We can confirm that Jayne entered into the relevant commitments well in advance of her agreeing to join The a2 Milk Company and in the knowledge that she had a future entitlement to receive the benefit of equity interests from her previous employer (that she subsequently forfeited when she joined The a2 Milk Company)
Jayne’s ongoing remuneration package (specifically her LTI component) has been structured to ensure Jayne will continue to hold a significant equity interest in the Company moving forward

We wish to confirm that the Company has heard the concerns raised by shareholders and that these concerns have been shared directly with Jayne and the rest of the Board.

The Company understands and takes seriously its continuous disclosure obligations.

We are grateful for shareholders’ support of and interest in the Company.

Kind Regards

Dear Kind Regards

Did anyone on the board that offered this lady the job stop to think that a brand new CEO selling ALL of her shares within months of joining A2 would not be a good look? If not then why not? And if not, have any board members thought of resigning because of this lack of insight?

Did anyone on same board that offered this person the job not think that paying her in cash would have been a wiser decision? If not then why not? And if not, have any board members thought of resigning due to this lack of foresight decision?

Does everyone on the board think that the statement - 'Jayne...... holding a significant amount of equity moving forward' IE. MORE FREE SHARES THAT SHE'S BEEN GIVEN, is a satisfactory answer that would appease shareholders? If so, then have any of these said board members bothered to listen to shareholder opinion on this sell-off? If not, then have they thought to resign because of this inaction?

Has any board member thought to try and entice Geoff Babidge back into the fold with a few more million shares to get things back on track and give shareholders some confidence back? If not then do you ever take note of shareholder opinion?

If the answers to the above are all no's, then do you realise that a shareholder vote would see you all removed en masse - with immediate effect?

Regards

Yours

**steveb** · 11-10-2018, 01:24 PM

I guess it comes down to how long was left on her contract,and how was her remuneration contract with jetheap negotiated,if it was performance based was she ahead of the game and on track to recieve her full entitlements.She might have been running out of customers to shaft at jetheap,or she could have been doing really well,I guess we will never find out

**Redmack** · 11-10-2018, 01:25 PM

Originally Posted by couta1

The 4 million dollar question is why on earth did they appoint her to the role full stop, as I've said before square peg versus round hole.

Maybe JH was the smarter, more aggresive negotiator at the recruitment table. If so, can ATM afford to have such a strong negotiator with such strong self interest?

I have seen several times in the last few years where very strong negotiators have joined a business and procceded to strip all the value they can get while talking the talk.

As shareholders, the question may well be: has the company got too big for the current boards experience?