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Vox needs a miracle ADSL South Africa (Broadband South Africa), 8 March 2009 Vox Telecom will need a miracle to survive the negative sentiment unleashed by the company’s decision to allocate shares though a new share incentive scheme.
Shareholders are not happy… Vox Telecom’s decision to reward directors and all members of staff with shares in a new share incentive scheme has poured oil on the proverbial fire. Vox Telecom shareholders still need to vote on it but the damage is already done as reflected in the closing share price of 46c on Friday (06/03/2009). This comes as the last straw for Vox Telecom shareholders who have already lost close to R60m in the Dealstream debacle last year. Share incentive schemes are not out of the ordinary, but the new share incentive scheme planned by Vox Telecom is clearly designed to reward directors who have lost millions of Rand by placing high-risk bets on single stock futures in their personal capacity. |
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