PHG 0.00% 46.5¢ pulse health limited

losstrader caught out down ramping phg

  1. 115 Posts.
    Losstrader, you are being deliberately misleading.

    Why don't you have the courage to make a full quote from the disclosure document and then look into it with depth. You tried to give the impression that the directors will be getting the 6,428,571 shares free. In fact what they are seeking, as they are required to do, is the right to participate in the private placement at 14 cents announced 13 December 2007. The whole placement was for 90 million shares and they seek to subscribe for just 6.4 million of those at the same price as everyone else. I take that as a vote of confidence in the company by them. They are the sort of directors I want managing PHG.

    As for Mangles' remuneration package, again, just a little analysis, of which you are incapable losstrader, shows that it is entirely reasonable. Mangles started on 1 August 2006. Obviously his contract provided for review after 12 months and that review has taken 5 months to complete. Hence the effective dated for the increase is correctly 1 August 2007.

    Have a look at what he has achieved. Firstly, he has overseen the transition of PHG to a health care company from its old BIX identity. No small task that!! And secondly, since he started, the net assets of the company have grown from $0.2 million (30/6/06) to $1.2 million (30/6/07) and $10.9 million (31/12/07). Net assets per share have gone from $0.005 (30/6/07) to $0.082 (31/12/07). Revenues in that time went from $10,202 for the half year to 31/12/06 to $3,285,892 for the corresponding half year to 31/12/07 and the company is now trading profitably.

    Mangles is managing a company with over 300 employees (many part-time) and an annualised turnover of $31 million and growing. He well and truely deserves $275k p.a.

    Your problem losstrader is that you are unaccustomed to investing in companies that operate real businesses. Hence you look solely at the share price as a messure of how its worth.

    Well its either that or this. You see, I think you have made a freudian slip. No-one mentioned before you did the possibility that you are attempting to down ramp the stock. So where did that come from? I think that comment reveals more about the aims of your posting than you would be prepared to admit. Gotcha!! You'd better get it now or you'll miss the boat.
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