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Who has worked with our Commercial Director at Deerland (who purchased Bifodan in 2019)
https://gb.kompass.com/c/deerland-probiotics-enzymes-a-s/dk059564/
just a bit of info which may not have been obvious in rns releases
mol
Just an observation from admission document
The Group has entered into service agreements and letters of appointment as follows:
6.1.1 an agreement between Stephen O’Hara and ProBiotix dated 31 March 2022, pursuant to which Mr O’Hara agreed to act as Chief Executive Officer of ProBiotix on a part time basis committing a minimum of 18½ hours per week. In the absence of breach, the appointment is terminable on six months’ notice on either side. The salary payable to Mr O’Hara is £106,000 per annum. Mr O’Hara has agreed to post termination restrictions on competing activity, which commence on termination of the appointment (such that no period of gardening leave shall be counted as part of the restricted period). Mr O’Hara previously carried out duties for ProBiotix as part of shared services with OptiBiotix;
6.1.2 an agreement between Mikkel Hvid-Hansen and ProBiotix dated 31 March 2022, pursuant to which Mr Hvid-Hansen agreed to act as Commercial Director of ProBiotix. In the absence of breach, the appointment is terminable on three months’ notice on either side. The salary payable to Mr Hvid-Hansen is €175,000 per annum. Mr Hvid-Hansen has agreed
to post termination restrictions on competing activity, which commence on termination (such that no period of gardening leave shall be counted as part of the restricted period). Mr Hvid-Hansen’s continuous employment with ProBiotix commenced on 3 February 2020 (which employment was governed under a prior service agreement, as has been replaced and superseded by the 31 March 2022 agreement);
presumably our full time executive will be paid far in excess of Stephen's salary - and therefore Stephen's reduced - I await with interest - unfortunately that will take until june 2023 - 5 months after the legal ownership of PBX shares transferred
mol
for completeness
a letter of appointment between the Company and Adam Reynolds dated 31 March 2022, pursuant to which Mr Reynolds was appointed as a non-executive Director and chairman of the Company for an annual fee of £30,000, payable monthly in arrears. Mr Reynolds is required to devote such time as is necessary for the carrying out of his duties as a non-executive Director of the Company. The appointment is terminable on 3 months’ notice on either side, save that Mr Reynolds cannot terminate on notice at any time within the first 12 months of the appointment. No compensation is payable for loss of office and the appointment may be terminated immediately if, among other things, Mr Reynolds is in material breach of the terms of the appointment. The appointment letter supersedes and replaces a letter of appointment made between Mr Reynolds and ProBiotix dated 21 September 2018 as related to Mr Reynolds’ appointment as a non-executive director of ProBiotix;
6.1.4 a letter of appointment between the Company and Marco Caspani dated 31 March 2022, pursuant to which Mr Caspani was appointed as a non-executive Director of the Company for an annual fee of £20,000, payable monthly in arrears. Mr Caspani is required to devote such time as is necessary for the carrying out of his duties as a non-executive Director of
the Company. The appointment is terminable on 3 months’ notice on either side, save that Caspani cannot terminate on notice at any time within the first 12 months of the appointment. No compensation is payable for loss of office and the appointment may be terminated immediately if, among other things, Mr Caspani is in material breach of the terms of the appointment.
mol
Still on garden leave apparently
https://dk.linkedin.com/in/steen-dannemann-andersen-96a3222
5 months so far - could be only another month or seven - generally a year at his level
Our company should let us know but methinks it will be March next year until his appointment confirmed
so presumably Stephen carries on until then , drawing salary etc - albeit presumably new CEO designate isn't being paid
New CEO designate - that's what the RNS should have said though didn't
wonder if this came up in interview posted today?
Question - is Steen being paid from RNS announcement ?
Shouldn't be as being paid by previous employer
Just noting this for the future
mol
mol
sorry to state the obvious
he has been on garden leave from March and our company would have known the length of same prior to rns release
but of course we aren't adult enough presumably to be given the full picture
also note opti has noted my research re We Test You Trust in an rns today
follows up on my theislandnow post some months ago
still not paid for any of this
lol
mol
6 months confirmed by the CEO designate
we wait and wait and wait......
Stephen no doubt is continuing to draw his salary, whilst looking to seek out further opportunities (his expertise in his words) for Opti, and congratulating himself but ignoring the fact that this is now a listed plc but according to admission document
an agreement between Stephen O’Hara and ProBiotix dated 31 March 2022, pursuant to which Mr O’Hara agreed to act as Chief Executive Officer of ProBiotix on a part time basis committing a minimum of 18½ hours per week. In the absence of breach, the appointment is terminable on six months’ notice on either side. The salary payable to Mr O’Hara is £106,000 per annum. Mr O’Hara has agreed to post termination restrictions on competing activity, which commence on termination of the appointment (such that no period of gardening leave shall be counted as part of the restricted period). Mr O’Hara
previously carried out duties for ProBiotix as part of shared services with OptiBiotix
said document as we know not within our purview prior to release
mind we should be used to used to obfuscation in all things Opti and especially with our part time CEO and of course with six months notice and gardening leave restrictions not applying to him
mol
now into his 7th month of gardening leave
mol
Are they (we) saving any money by delaying his start? Is SOH taking his full salary?