See the Cannbiz Aus story below.
Anybody who knows the Australian market knows the Cannabiz saga that has been going on for getting close to a decade now.
Money exits their organisation like…
Where is all the money going?
Well, that we will never know but a little birdie told me recently that a good % of it goes to the company directors wage packets
It would be interesting to know how much the following are all paid on an annual basis
Information is scant but , if indeed, Pilcher is earning $AUD375K as a base wage it would suggest at a minimum other board members are raking in at least 60% of that as a conservative estimate.
It isn’t hard to see how the money slips through their fingers with such ease. I’m guessing that board and executive are swallowing at least $AUD1.5 million pa before a product has even walked out the door.
Cann Group it appears from the outside spend all their energies on raising money which in ten is immediately disbursed as renumeration rather than being invested back into the company.
I really can’t imagine it is that sustainable for much longer.
- Jenni Pilcher (CEO & Managing Director – Appointed 1 April 2024):
- Fixed Remuneration: \(\$375,000\) per annum plus superannuation.
- Long-term Incentive: Entitled to 4.5 million share options under the Employee Option Plan, split into three tranches (vesting 1 July 2025, 2026, 2027) with exercise prices of \(\$0.06\) and \(\$0.08\).
- Non-Executive Directors:
- Peter Kopanidis (Non-executive Director – Appointed 31 March 2025): Included in the Directors’ report
as a key director.
- Allan McCallum AO: Retired as Director/Chairman on 28 August 2023.
- Peter Kopanidis (Non-executive Director – Appointed 31 March 2025): Included in the Directors’ report
- Board Structure (Current): As of late 2024/2025, the board consists of Mike Ryan (Chairman), Doug Rathbone AM, Jenni Pilcher (CEO/MD), and Peter Kopanidis. [1, 2, 3, 4, 5, 6]
- No Dividends: No dividends were paid, recommended, or declared during the 2024 or 2025 financial years.
- Options: Other directors may hold shares and options as noted in the Annual Report
, such as 300,000 options held by directors in previous periods.
- Remuneration Policy: The company maintains a Remuneration Committee Charter
to oversee director compensation. [1, 2, 3]
Source Google AI
Cann Group has acknowledged it must secure new funding to continue operating and revealed it is “actively engaged” in merger and acquisition talks as the company continues to grapple with its finances.
More funding needed by Cann Group ‘to continue its operations’
