The latest executive remuneration scheme seems to have been fashioned so as to encourage takeover speculation amongst the hoards of retail investors who follow this Kurdistan oil play.
Exit Event Awards
The Remuneration Committee has recommended that the Company makes cash settled awards to certain Executive Directors and employees conditional on the occurrence of an Exit Event (as defined below) (“Exit Event Awards”), up to a maximum amount equivalent to the value of 10,000,000 common shares of USD0.01 each (“common shares”) at the time of an Exit Event, and that a trustee (the “Exit Event Trustee”) be appointed to hold and, subject to the occurrence of an Exit Event, to sell sufficient common shares to satisfy the Exit Event Awards.
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