TSK - TASK Group Holdings

[Baa_Baa]

http://nz.linkedin.com/in/rhodah and Vix Technology http://www.vixtechnology.com/ could not find website for vix investment.

Start with Utilico Investments Limited which owns Vix Limited, an unlisted Bermuda holding company whose main investment is in Vix Investments Limited ("Vix Investments"). Vix Investments is an unlisted investment holding company with a technology investment portfolio including payments, financial services, telecommunications and transit related companies.

Here's how Rhoda Phillippo describes it. "Vix Investments is a portfolio of payments technology businesses owned in whole or part by Utilico – Vix Technology is a wholly owned part of this portfolio."

[Baa_Baa]

Rhoda Phillippo has exemplary professional credentials and track record. I see this as an outstanding vote of confidence in VMob. Part of the Vix Investment's mantra is seeking out undervalued companies that fit with their portfolio. I wonder if given the size of the investment being now the #2 largest investor, over double the 3rd largest and about half of the founder Scott, whether Vix will seek a Board placement.

[gmatt]

Yes, impressive CV ...... their involvement gives me a lot of confidence that VMob will succeed.

[Ghost Monkey]

Ghost Monkey wouldn't get too excited, not a big investment for them. This is just a foot in the door and an acknowledgement that perhaps Vmob is onto something with their product. Long way to go yet before we know if this company will succeed. But at least the sp seems to have stabilised........ for now.

[axe]

Mini quiz time. How much did of a pay rise did the CEO receive last year?

[axe]

On 23 June 2016 the Company entered into an amendment to an employment contract with ScottBradley (Chief Executive Officer and Director), with such employment contract constituting a MaterialTransaction with a Related Party pursuant to NZX Listing Rule 9.2.1. Under the terms of thisamendment to employment contract Scott Bradley is entitled to receive a base annual salaryNZ$500,000 up until 31 December 2016, when remuneration will be reviewed with reference toprevailing market conditions. The Company also entered into an agreement with respect to ScottBradley’s secondment to work in the US during the year ended 31 March 2016. The terms of thesecondment, acknowledging market conditions in this key strategic market and the increased costs ofliving, provide for a base salary of US$262,000 for the 9 months to 30 June 2016, an anticipatedperformance based bonus of up to US$139,000, and expatriate allowances to compensate for theincreased costs of living of approximately US$246,200 per annum whilst residing in the US for the 9months to 30 June 2016. The requirement to obtain approval by Ordinary Resolution to enter into aMaterial Transaction with a Related Party under NZX Listing Rule 9.2.1 did not apply to thisarrangement as the Company made use of the exception under NZX Listing Rule 9.2.4(d). The terms ofthe employment contract were set on an arm’s length, commercial basis and were approved by theIndependent Directors of the Company and (as required by the NZX Listing Rules) the IndependentDirectors approving the contract signed and delivered to NZX a certificate stating that Rule 9.2.4(d)(i)had been complied with.



""expatriate allowances to compensate for the increased costs of living of approximately US$246,200 per annum whilst residing in the US for the 9 months to 30 June 2016.""

[Absolute144]

On 23 June 2016 the Company entered into an amendment to an employment contract with ScottBradley (Chief Executive Officer and Director), with such employment contract constituting a MaterialTransaction with a Related Party pursuant to NZX Listing Rule 9.2.1. Under the terms of thisamendment to employment contract Scott Bradley is entitled to receive a base annual salaryNZ$500,000 up until 31 December 2016, when remuneration will be reviewed with reference toprevailing market conditions. The Company also entered into an agreement with respect to ScottBradley’s secondment to work in the US during the year ended 31 March 2016. The terms of thesecondment, acknowledging market conditions in this key strategic market and the increased costs ofliving, provide for a base salary of US$262,000 for the 9 months to 30 June 2016, an anticipatedperformance based bonus of up to US$139,000, and expatriate allowances to compensate for theincreased costs of living of approximately US$246,200 per annum whilst residing in the US for the 9months to 30 June 2016. The requirement to obtain approval by Ordinary Resolution to enter into aMaterial Transaction with a Related Party under NZX Listing Rule 9.2.1 did not apply to thisarrangement as the Company made use of the exception under NZX Listing Rule 9.2.4(d). The terms ofthe employment contract were set on an arm’s length, commercial basis and were approved by theIndependent Directors of the Company and (as required by the NZX Listing Rules) the IndependentDirectors approving the contract signed and delivered to NZX a certificate stating that Rule 9.2.4(d)(i)had been complied with.



""expatriate allowances to compensate for the increased costs of living of approximately US$246,200 per annum whilst residing in the US for the 9 months to 30 June 2016.""

....but the share price has decreased immediately after capital raising. I guess if you got it you gotta spend it.....��

[winner69]

Not often the CEO's remunerationn is a Material Tranasction

Feltex had that problem just before they went bust

[Ghost Monkey]

I feel I don't have enough experience to know whether this is something to be worried about or not..... what exactly was Feltex doing that resembles what Scott is getting? He is based in the USA after all so I suppose some level of financial support is warranted for being based there? And if it wasn't a 'material transaction' would they just increase his salary anyway? Does Rod over at Xero get anything similar?

disc. very small holding, but still trying to make my mind up about this company

[Baa_Baa]

Of course Scotts salary increase has nothing to do with Feltex ... Lol. That's just the court jester having a bit of fun teasing. $500k is pretty conservative for a hi-tech CEO in the USA, not to mention his pittance for all the years prior where he's grown the company from start-up to high growth.

When considering ones shareholding, take into account that the T20 has increased to 62% of total holdings and the uplift has come from Vix taking a SSH position as well as the institutions increasing holdings. A couple of larger retail investors have also sizeable increases in the past month.

Looks like positioning for the September $10m ACMR goal. Hopefully VMob achieve it.