Strix Group - share based payments dwarf other costs
New shareholders in this manufacturer of kettle safety controls are bearing the brunt of some generous employee benefits; we are puzzled why they agreed.
Strix Group (LON: KETL), the Isle of Man based manufacturer of kettle safety controls issued reasonable results for the year ended 31 December 2018. However, it’s the overly generous share options which have left us scratching our heads.
Share based payment costs of a whopping £4.8m equate to 18.6 per cent of operating profit. Senior management of the company are the key beneficiaries of this generous scheme which takes their annual remuneration to £6.3m, to add to…
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