Business Services Industry
Options bonanza for Austar chief.
Australasian Business Intelligence, April, 2007
Byline: Stuart Washington
Apr 22, 2007 (The Age - ABIX via COMTEX) -- Austar United Communications CEO, John Porter, could receive an options-based payout of up to $A19.3m if the Australian pay television group is taken over. US group Liberty Global, a subsidiary of which owns 54 of Austar, is the subject of takeover speculation. A total of $A55m would be shared by 12 senior Austar managers in the event of a full takeover, which would trigger the vesting of up to 100 of the remaining options held by senior staff under Austar's options scheme. Even without a takeover, the shares vest in April 2008. Austar's generous options scheme was introduced in 2003 by former owner CHAMP Private Equity.
Publication Date: 23 April 2007
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