TSXV:AAA.P - Post by User
Post by
discern1on Jun 15, 2014 9:34pm
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Post# 22662058
Management paid $10.2M for ICL investment
Management paid $10.2M for ICL investmentThe transaction that Allana made with ICL triggered a change of control of the company resulting in potentially a 3 years severance package.
Since the current management was retained by ICL, they felt it best to renumerate the management so that they would continue a great performance.
In the finances a $10.2 M charge was added for consulting and managment which is the performance buy-out that the management received for this transaction.
Now I am long on Allana, but I must say it doesn't feel right that they get a whopping $10.2M when average investors have not seen any return.
I really don't like "normal" business practices.