oink oink

I still have a quick flick through BSM announcements from time to time just for old-times-sake.

Today's AGM announcement was a doozy. In light of the Epic Fail that BSM now is Directors have undertaken to reduce executive remuneration and Director fees by 20% for the 2013 year based on the remuneration shown in the 30 June 2012 Annual Report. Page 4 of explanatory statement relating to Resolution 1 from today's announcement,

So what does this mean? For 2013:

M Rosenstreich will earn $377k
C McGown will earn $142k
B Sullivan will earn $48k
P Treasure will earn $48k
S Hunter (consultant) will earn $82k

Total $697k

Market cap of BSM? $1.8m

Salaries and fees for 2013 are 39% of the total MC !!!!

For all those still hanging in there the voting options are obvious !

cheers
John