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- In April, Kogan (KGN) recorded its largest-ever monthly marketing expense, edging closer to two million active customers
- Last month, the company saw an extra 139,000 new active customers come on board, bringing the total number of users 1,948,000
- Additionally, Kogan says its sales more than doubled and its profit spiked by over 150 per cent, compared to April 2019
- Following the results, the retail business has also proposed a long term incentive (LTI) plan for Executive Directors Ruslan Kogan and David Shafer
- LTI is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value
- Between Kogan’s inital public offering (IPO) in July 2016 and April 2020, the company has delivered a total shareholder return of 343.89 per cent
- Kogan is up 6.34 per cent on the market this morning, selling shares for $8.89 per share
In April, Kogan (KGN) recorded its largest-ever monthly marketing expense, edging closer to two million active customers.
Last month, the company saw an extra 139,000 new active customers come on board, bringing the total number of users 1,948,000.
Additionally, Kogan says its sales more than doubled and its profit spiked by over 150 per cent, compared to April 2019.
At this time, the retail business says it will still continue to invest heavily in building its brand and growing active customers.
Proposed Senior Executive LTI
Kogan’s Remuneration Committee, which includes all Non-Executive Directors, has proposed a long term incentive (LTI) plan for Executive Directors Ruslan Kogan and David Shafer.
LTI is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value.
Between Kogan’s inial public offering (IPO) in July 2016 and April 2020, the company has delivered a total shareholder return of 343.89 per cent.
“Accordingly, the Remuneration Committee intends to propose an LTI plan that both retains and incentivises the Executive Directors well into the future,” the company said.
Chairman Greg Riddler sais Kogan and Shafer are outstanding business leaders.
“They have been fundamental in building and growing the high performing company we see today, and shareholders have been rewarded with an exceptional return on their investment since IPO,” he said.
“The proposed LTI grant (which will be by way of options over ordinary shares) involves at-risk equity with an additional service condition of at least three years. Other than usual annual reviews, no changes to the modest fixed remuneration of Ruslan and David are proposed,” he added.
Kogan is up 6.34 per cent on the market this morning, selling shares for $8.89 per share at 11:44 pm AEST.
