snouts in trough - directors better deliver

I checked the TAS annual report to see what the Directors are paid. GS got $288k for 03/04 and the other two got $28k each. As well, the notice of meeting for Eden asks for a further $150k for GS for his role in running what is currently (I think) a 100% subsidiary, and the other directors get another $24k each. So, if approved, TAS shareholders are being asked to pay $538k pa for GS, and $52k pa for the other two directors which is $642k pa just on directors fees. I gotta say that is right at the extreme end of the scale for a little company like TAS that has so far delivered very little for shareholders.

Attitudes might soften if the company gets a really good hit, but if we get a repeat of past results I think shareholders will look upon their antics without too much kindness.

As well, they each have big chunks of shares and options, presumably from vending in stuff a while ago rather than paying cash.

Also, there is the ask re Eden Energy options. The key piece of information is at what price will the IPO take place. If 20c then it is unacceptable for director options to be exerciseable at 20c since that results in a direct transfer of equity from shareholders to directors right there. If the exercise price is twice the proposed IPO price different story, but it sure doesn't look like that is the case.

I encourage shareholders to express their views on these matters. Maybe I have got it wrong.