According to the AGM notice it looks like ME wants shareholders to approve the issue of 6 million options to himself at an exercise price of 7 cents.
The release states "they are being issued to Mr Evans in order to provide a material additional incentive for his ongoing commitment and dedication to the continued growth of the Company."
According to the last annual report he already has 6.2 million shares plus another 5 million options and took home just under $294 000 in salary and fees.
Frankly, despite the potential Shell farm-out agreement he hasn't earned and does not another deserve 6 million options.
Whats he going to do if they don't get approved? Walk away?
I will be voting NO on that resolution....
agm and options
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| Last trade - 15.56pm 04/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |