Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

First Tidal Acquisition Corp T.AAA


Primary Symbol: V.AAA.P

First Tidal Acquisition Corp. is a Canada-based capital pool company. The Company's principal business is the identification and evaluation of a qualifying transaction and once identified or evaluated, to negotiate an acquisition or participation in a business subject to receipt of shareholder approval, if required, and acceptance by regulatory authorities. The Company has not generated revenues from operations.


TSXV:AAA.P - Post by User

Post by discern1on Jun 15, 2014 9:34pm
827 Views
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.
<< Previous
Bullboard Posts
Next >>