$2.7 million worth by today’s share price for........doing his job.
Not a fan of this type of arrangement, at least have some sort of conversion, make Nigel outlay something.
From memory he is already on $250k 0r $350k per year and then a $2.7 mil bonus. Nice $3 mil package for the year.
I know everyone will say Nigel has 20 million more reasons to make this fly, but didn’t Klaus have 30 million reasons that he sold???
It all seems fine now but in 6-12-18-24 months when Nigel wants to “free up some cash” then it becomes an issue and everyone loses their mind AKA Klaus style.
I know this was approved by shareholders but the biggest shareholders who will be well connected with management allow it.
In my view I’m fine with him getting $2.7 mil worth but put something back into the company in monetary terms. E.g $540k would be 20% of the total value and would pay for a PFS/DFS if they eventuate. Which would in turn lesson the chances of dilution if it was to happen.
At the end of the day I know this will be spun a certain way by certain posters by personally not a fan of free shares like this, I guess that’s the ASX for you...
