Ann: Board Appointment & Sales Incentive, page-107

My guess is that the BOD expect the sale price to be in the middle band. ie. USD 350m to 550m.

The lower band is probably their worst case scenario while the upper band is likely a "we've hit it out of the park" bonus scenario.

Let's say the price is in the centre of that middle band. Approx USD 450m. That will equate to a share price of around AUD 0.45. That fits in with DMs suggestion at the last AGM that they think the price will be many multiples of the current share price.

I don't see why they would bring on this new director to help close a deal if they were only aiming at a measly USD 120m at the lower end of the spectrum.