Take physic, pomp

The Cobalt 27 KBLT.v change of control awards

Okay, the 4th person since yesterday just sent me this, let’s get it out the way. This is the payments for change of control at Cobalt 27, as it’s OPA’d by Pala:

Yes you are reading that right, for his two years at the helm after a) IPO’ing under Pala sponsorship b) suckering thousands into the cobalt pump c) watching the stock deflate then d) approving a takeover by Pala Investments at these new lows, CEO Anthony Milewski gets U$7.72m (and the others get theirs accordingly). But that’s not all, Milewski has 840,000/RSUs which magically become C$3m in cash. He gets shares of the nickel spinco and gets to be its exec chair, too. Not to mention his salary for the two years of work, which after bonuses came to North of C$2m. All very nice I’m sure, but no matter where he goes or what he does, Anthony Milewski will always have “A Russian Oligarch Owns My Ass” tattooed on his forehead so fuck him, he’s made his life choice and there ain’t no going back now, Tony.


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