TLG Ann: Change of Director's Interest Notice - 24th Jan 2023, 12:32pm

[annb0t]

TLG Ann: Change of Director's Interest Notice
Price Sensitive: N
Date: 24th Jan 2023, 12:32pm

>>> Read announcement: Google: TLG Market Announcements

 

[Semmel]

Sorry, I am sometimes a bit illiterate when it comes to financial statements like these. What does this mean? I read it as Mark had a loan and placed 1.5M shares as collateral. Now he payed back the loan and as a consequence the shares are not collateral any longer? So like, he used 1.5M margin? No idea if that is correct.

 

[Rayster]

Back in January of 2021 MT received 1.5M share options at (let’s say) $1. MT didn’t have the $1.5M to execute them so he loaned them out while he raised the funds. At a guess this was a 2 year arrangement. In that time MT raised the $1.5M to purchase them and hence the loan complete. My understanding is MT moved heaven, home and earth to make sure he kept every share. Well done MT. I would have done the same thing.