what do you make of the new accouncement, page-11

Noted that they have called for next AGM and there is not proposal seeking approval for Managing Director salary reduction. Neither for modification of his salary to be more performance based.

I strongly believe that WRR MD salary should be at least 50% based on performance ... As everyone knows now there are no more freebies in this financial climate and CEOs are on the fireline for high salaries, what is WRR doing about it? .

Why they are now proposing to reduce the convertible notes to 0.4 cents if they were at 1.3 cents. One anser is that of course the MD is putting some money and he wants to be sure he gets the best out it.

I said ths before bue I must say it again, the MD is taking more than half of the company annual profits with his salary and on top of that he also tales millions of option shares for free. put the nukbers together and see how they come up.....


Something else to to be noted and to be considered is that if there is justification for reducing the convertible notes to the unbelievable discounted price of 0.4 cents, there should be justification for reducing the MD’s salary or at least to have his salary based more in the complanies performance.

Please provide your comments:

Do you feel the same way?
Don’t care?
Nothing we can do?
Can we suggest another motion for the next AGM and request MD’s and his directors salary review?


Please DYOR.