Termination Package is a disgrace, page-34

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Ironman2020

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24/07/24

11:31

Post #: 74890719
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Originally posted by AE23: ↑

Hi all

Since the announcement, I've spent a fair bit of time thinking about what's transpiring at the moment.
I am still not happy about the way they've gone about this but to a degree I understand that there needs to be some governance with regards to terminations etc. It's like any employee of a company, they want to know the full deal when they start.

What they haven't taken into consideration when presenting this for a vote, is peoples anger, frustration, fear, stress all associated with what has gone on before their tenure started.
I think setting up this investor hub platform is a step in the right direction and will go some ways in answering some questions that need answering.
I still have an issue with the sale of Lindsay if it becomes a fire sale.
I was ok with Riley been sold off, but I will not be ok with selling our "flagship" prior to confirming that Jupiter is in fact viable.

It's obvious shareholders were fed embellished stories about Lindsay to keep investors on the hook, but the reality is if Lindsay was in fact feasible, we would be much further advanced then we are at present. This PFS was meant to be released by Christmas 2022 at the latest, we even employed a specific person for this role. And yet nothing. This tells me Lindsay is in fact not feasible.
IF true, this represents criminal activity on the part of previous management.

Current management have obviously yet to prove themselves, and they have a mess that needs to be cleaned up. They appear to be more methodical in their approach and have followed through with everything they said they would. That's a tick from me.

Where they have fallen down is the remuneration which I feel is excessive for a team that has yet to kick any major goals. the first tranche of shares at 2.5c is ridiculous given we were trading close to that when they came on board. I understand that to get decent people, they have to be rewarded handsomely, however the bar has been set too low and there needed to be much more incentive based on performance.
This is where I think the majority have an issue.

Sorry about the rant but that's my take on things at the moment.
Christmas will be interesting if they meet their deadlines.

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This PFS was meant to be released by Christmas 2022 at the latest, we even employed a specific person for this role. And yet nothing. This tells me Lindsay is in fact not feasible.IF true, this represents criminal activity on the part of previous management.
I look forward to you and others asking these questions on the QA section of the new investor hub.

VMS Price at posting: 1.9¢ Sentiment: None Disclosure: Held
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