What is the value of the AIM Admission Document?
A key document in the AIM Admission process is the Admission Document (‘AD’) which remains a source of reference for investors for many years to come post flotation. Time and time again we discover how companies quickly forget what they originally committed to!
Hidden towards the back of the AD one can generally come across information on Directors’ service agreements and terms of office. Having dug into the AD for Zenergy Power from Aug 2006 we learned that former Chief Exec Jens Muller had entered into a service agreement with a business called Trithor that was the precursor to ZEN and one of the providers of HTS Technologies. This agreement provided for an annual salary of €94,999.92 and participation in the Trithor bonus scheme (up to €25,000 per annum). We also learn that Dr Müller entered into an appointment letter ZEN dealing with…