re: Ann: Notice of Annual General Meeting/Pro...
This is what we are being asked to vote on:
"That, for the purposes of Listing Rule 10.14 and Chapter 2E of the Corporations Act, Shareholders approve the granting of 267,000 Retention Rights and 3,200,000 Performance Rights to Mr John Phillips or his nominee pursuant to the Employee Incentive Rights Plan and on the terms and conditions set out in Schedule 2."
Which seems a little high when you recall the wording in the Annual Report.
"We cannot hide the fact that our ‘scorecard’ for the past year has been below expectations. The Company has identified many contributing factors and is currently addressing these as a matter of priority"
Personally, I think a base salary of $400k should probably be enough incentive for Mr John Phillips to aim to deliver shareholder returns. Hence, I will vote NO on the motion.
BUL Price at posting:
4.9¢ Sentiment: LT Buy Disclosure: Held