In today’s briefing:
- Rex: Show Me the Incentives and I Will Show You the Outcome
Rex: Show Me the Incentives and I Will Show You the Outcome
- Last month a new options program was announced, board members have two milestones to meet by 8/4/2024: get the stock over 0.45 SGD (50% vesting) & 0.60 SGD (50% vesting)
- Rex’s production in Oman has disappointed but AGM commentary makes us believe the worst is now behind us. A recent Straits Times interview confirms 20K BPD remains the LT target.
- Rex has instituted a good dividend policy and should now max out its 10% annual buyback authorization before dividends are paid later in FY22; win-win situation for shareholders and board.
Before it’s here, it’s on Smartkarma
