"We have a very strong Board and I expect there is no desire to have a Board spill especially where part of the negative vote is based on one proxy advisor comparing our 3 year average history outside the ASX300 with ASX300 standards and some retail shareholders not fully understanding the basis of STI and LTI in Australia. We believe that your company, with the proposed resolutions approved, will now meet corporate best practice in this area in Australia."
There's also a lot of retail shareholders who do understand the STI and LTI structure in Australia, and voted against it!
I fear the board is acting like the Brexit and US election, they're not accurately grasping the situation, they might have all the information and be able to see exactly what's happening and what the future will bring, whilst the glimpses we've seen are great, to us most of the companies future is still not visible, I feel they constantly think we have the same information that they possess and expected us to vote in favour of their remuneration.
IMO another 12 months and quarter on quarter proof of revenue is needed before handing out large incentives, especially before we hit CFN.
Cheers.
AJX Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
