vote for independent director, page-7

Did anyone read the 19 Sept Appendix B announcement and realise how much Peter Cook and his mates had been enriched for their sterling performances?

Let me surmarise it in plain language for your benefit:

A year ago, in the 30 Aug 07 Appendix B announcement, there was a total of 894,666 executive options. This had ballooned by 336% to 3,006,614 in the 19 Sep 08 announcement.

This does not include the options that had been converted to FREE shares and pocketed by Peter and his mates or options that had expired. These figures can be obtained from the following Appendix B announcements:

16 July 08: Peter and his mates pocketed 375,685 free shares.
30 Jun 08: Peter and his mates pocketed 35,020 free shares. 13,744 free options lapsed.
24 Oct 07: Peter and his mates pocketed 10,000 shares and 39,369 options were cancelled due to resignation.

In summary, from 30 Aug 07 to 19 Sept 08; Peter and his mates pocketed 406,035 shares and further dilute shareholders wealth with executive options ballooning by 336% to 3,006,614

Biota will purchase 9,166,744 shares in the buy back with your money.

Shareholders must be awed with Peter Cook’s skill in wealth creation. On behalf of shareholders, Peter Cook turned down the GSK $100M + legal costs offer in 2006; turn down the $75M plus legal costs in 2007; and after burning $35M legal costs settled for $20M without costs and then told shareholders it was the former CEO Peter Molloy who commenced the court case!
With the court case out of the way, GSK is selling “put options” for Relenza for which BTA will be paid millions when the buyer exercise the put options during a full blown Bird flu pandemic. Oops – wouldn’t Peter like shareholders to think BTA will get paid $20M to $35M Relenza royalties per annum?

At the AGM, shareholders like Portable will have the pleasure to reward Peter Cook with 976,300 of free options for his sterling performance.