And people like to crap on SS..here's nano board response to their CEO
More by accident than design i took a look at Edelman's remuneration since Nanoco was admitted to AIM in April 2009. Aside from Nick Robertson’s (ASOS) well-deserved rewards, I doubt many other AIM CEOs have ridden the corporate gravytrain with so much gusto. The six annual reports to date reveal he has taken more than £6.5m during this period; over one million for every year - making Richard Trevillion appear almost parsimonious by comparison. In FY 2013 Edelman's £3.1m bonus was dressed up to appear as a benefit in kind payment of 468k. It’s worth noting that the remuneration section of the current annual report runs to 17 full pages, 2013 & 2014 editions each had 3. Given these huge sums he has received, his share sale last November appears even more troubling. One can reasonably suspect, despite his modest manner and appearance, he has a taste, and possibly a need, for a well-heeled lifestyle. I am not a shareholder, nor interested in going short; and don't doubt that quantum dots will become mainstream one day, but whether Nanoco can exploit them in a timely fashion is another matter. I hope they can, however such poor corporate governance suggests otherwise. DYOR
Good post staverly, Edelman the absentee CEO has a life style of expense paid jollies around the world, his interests are listed as ski-ing and racing yachts, two very expensive past times.What he is milking out of the company is nothing short of a disgrace and I am amazed he still keeps his position. I for one would love to see him shown the door.
You're right that level of remuneration for an established main market listed business would be uneventful. FWIW, in the previous 4 years before moving across from AIM he took £5.78m* ... that's excessive by any measure given the fledgling nature of the business model. In this business it pays to read across the lines. Executive pay in any “jam the day after tomorrow” entity is usually the best steer as to the integrity of the senior management. You may poo poo such behaviour but I view it differently – that’s what makes for an interesting market. * 2011 £1,564,000 (164k basic + 1.4m options) 2012 £ 902,000 (208k basic + 694k options) 2013 £3,424,000 (268k basic + 3.156m options) 2014 £ 359,000 (359k basic)
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Nanoco Share Chat - NANO
Current Price
64.00
0.00
0.0%
Bid Price Offer Price
64.00 64.50
High Price Low Price Open Price
64.75 64.00 64.75
Shares Traded Last Trade Market Cap (m)
346,581 07:40:33 151.72
Nanoco Share Discussion Threads
Next Page
Date Subject
21/7/2016
13:02 perfect choice: He genuinely thought Dow would be ready on time, he was wrong!
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21/7/2016
12:55 supernumerary: It would be utterly shameful if Edelman were to buy shares - sell at the top and buy at the bottom - what sort of message does that send about the management? Sadly, I fear a correct one. Even if Edelman had been a rampant success he'd be overpaid - these packages are grotesque for tiddly little companies like this. But in fact we've seen him, not just once, but twice have to renegotiate the one contract of any magnitude he's ever signed. And still hasn't won the right to even talk about it. He listed Nano on the main market at least a year, probably more like two years, too early - what has that cost in money and credibility? And why was it done? Any guesses it was to trigger a bonus? And he still doesn't know how to pronounce the name of his own company ;¬(
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21/7/2016
12:43 spike_1: Surely we all must know that when deals are being negotiated, Directors are unable to buy shares as they are 'insiders'. Best wishes - Mike
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21/7/2016
12:39 jfacwc: nice though it would be .. surely Director Share buying could send the share price off to another planet? Probably not a good idea just at the moment.Also .. why shouldn't Directors get big bucks? Show's the company can afford it, and sends the right signals to just about everyone (apart from this bb)Thanks PC, as always, but you really seem to have your work cut out.I filter out the two geese... one and the same?? ... can only cope with so much.
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21/7/2016
12:27 perfect choice: Really is getting closer, contracts are not negotiated and agreed in a few days.
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21/7/2016
12:23 lauders: ME doesn't seem too interested in buying shares in NANO! Seems odd given he must be the best placed to know the future and as others here believe that future is so full of potential. Would have loved to seem him spend some of his huge salary on his own company's shares but I guess there is no incentive for him to do so given the options? Anyway, I am still waiting for this news that is yet to come. Another day/week/month passes. Hope it won't be much longer.
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21/7/2016
11:47 robotface: ME must be v wealthy with the salary, bonuses and share sale.
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21/7/2016
11:46 perfect choice: Share sale was for tax bill, numerous sources have checked that and confirmed, Question then is what was he spending money on to not have cash available for a tax bill. Its all history now and I am more concerned where Nano are going, things may well be very eventful in the next 4 weeks or so I feel.
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21/7/2016
11:22 staverly: PC: If the remuneration is obviously unjustified it hardly matters whether it's basic, bonus, options or whatever. What's most irksome is when it is perpetrated on the sly, as was the case with Edelman. Admittedly the share price has done well recently, and may continue to do so despite no news of new display business contract wins, but his sale of so many shares seems bloody odd given his extreme income over the past few years.
More by accident than design i took a look at Edelman's remuneration since Nanoco was admitted to AIM in April 2009. Aside from Nick Robertson’s (ASOS) well-deserved rewards, I doubt many other AIM CEOs have ridden the corporate gravytrain with so much gusto. The six annual reports to date reveal he has taken more than £6.5m during this period; over one million for every year - making Richard Trevillion appear almost parsimonious by comparison. In FY 2013 Edelman's £3.1m bonus was dressed up to appear as a benefit in kind payment of 468k. It’s worth noting that the remuneration section of the current annual report runs to 17 full pages, 2013 & 2014 editions each had 3. Given these huge sums he has received, his share sale last November appears even more troubling. One can reasonably suspect, despite his modest manner and appearance, he has a taste, and possibly a need, for a well-heeled lifestyle. I am not a shareholder, nor interested in going short; and don't doubt that quantum dots will become mainstream one day, but whether Nanoco can exploit them in a timely fashion is another matter. I hope they can, however such poor corporate governance suggests otherwise. DYOR
Good post staverly, Edelman the absentee CEO has a life style of expense paid jollies around the world, his interests are listed as ski-ing and racing yachts, two very expensive past times.What he is milking out of the company is nothing short of a disgrace and I am amazed he still keeps his position. I for one would love to see him shown the door.
You're right that level of remuneration for an established main market listed business would be uneventful. FWIW, in the previous 4 years before moving across from AIM he took £5.78m* ... that's excessive by any measure given the fledgling nature of the business model. In this business it pays to read across the lines. Executive pay in any “jam the day after tomorrow” entity is usually the best steer as to the integrity of the senior management. You may poo poo such behaviour but I view it differently – that’s what makes for an interesting market. * 2011 £1,564,000 (164k basic + 1.4m options) 2012 £ 902,000 (208k basic + 694k options) 2013 £3,424,000 (268k basic + 3.156m options) 2014 £ 359,000 (359k basic)
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Nanoco Share Chat - NANO
Current Price
64.00
0.00
0.0%
Bid Price Offer Price
64.00 64.50
High Price Low Price Open Price
64.75 64.00 64.75
Shares Traded Last Trade Market Cap (m)
346,581 07:40:33 151.72
Nanoco Share Discussion Threads
Next Page
Date Subject
21/7/2016
13:02 perfect choice: He genuinely thought Dow would be ready on time, he was wrong!
Read Full ThreadFollowReply
21/7/2016
12:55 supernumerary: It would be utterly shameful if Edelman were to buy shares - sell at the top and buy at the bottom - what sort of message does that send about the management? Sadly, I fear a correct one. Even if Edelman had been a rampant success he'd be overpaid - these packages are grotesque for tiddly little companies like this. But in fact we've seen him, not just once, but twice have to renegotiate the one contract of any magnitude he's ever signed. And still hasn't won the right to even talk about it. He listed Nano on the main market at least a year, probably more like two years, too early - what has that cost in money and credibility? And why was it done? Any guesses it was to trigger a bonus? And he still doesn't know how to pronounce the name of his own company ;¬(
Read Full ThreadFollowReply
21/7/2016
12:43 spike_1: Surely we all must know that when deals are being negotiated, Directors are unable to buy shares as they are 'insiders'. Best wishes - Mike
Read Full ThreadFollowReply
21/7/2016
12:39 jfacwc: nice though it would be .. surely Director Share buying could send the share price off to another planet? Probably not a good idea just at the moment.Also .. why shouldn't Directors get big bucks? Show's the company can afford it, and sends the right signals to just about everyone (apart from this bb)Thanks PC, as always, but you really seem to have your work cut out.I filter out the two geese... one and the same?? ... can only cope with so much.
Read Full ThreadFollowReply
21/7/2016
12:27 perfect choice: Really is getting closer, contracts are not negotiated and agreed in a few days.
Read Full ThreadFollowReply
21/7/2016
12:23 lauders: ME doesn't seem too interested in buying shares in NANO! Seems odd given he must be the best placed to know the future and as others here believe that future is so full of potential. Would have loved to seem him spend some of his huge salary on his own company's shares but I guess there is no incentive for him to do so given the options? Anyway, I am still waiting for this news that is yet to come. Another day/week/month passes. Hope it won't be much longer.
Read Full ThreadFollowReply
21/7/2016
11:47 robotface: ME must be v wealthy with the salary, bonuses and share sale.
Read Full ThreadFollowReply
21/7/2016
11:46 perfect choice: Share sale was for tax bill, numerous sources have checked that and confirmed, Question then is what was he spending money on to not have cash available for a tax bill. Its all history now and I am more concerned where Nano are going, things may well be very eventful in the next 4 weeks or so I feel.
Read Full ThreadFollowReply
21/7/2016
11:22 staverly: PC: If the remuneration is obviously unjustified it hardly matters whether it's basic, bonus, options or whatever. What's most irksome is when it is perpetrated on the sly, as was the case with Edelman. Admittedly the share price has done well recently, and may continue to do so despite no news of new display business contract wins, but his sale of so many shares seems bloody odd given his extreme income over the past few years.
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