I 100% agree. God forbid they needed to do some work for director fees greater than most ordinary Australian's wages. No one asked Smedley, especially, to take on the role. it was my understanding that this type of deal was possible last December, when we had cash and with no dilution, but it wasn't to be. Therefore, that means they didn't have to look too far.
Essentially if this plays out, they did some hard initial work, then get to sit back collecting their direcor fees, while the Indian team, as the vechile, manage the business and search for the growth oppotunities. Am I missing something? I think this attitude to free look options, 4 years out, is why the TSI team choose to hold their 10% outside the VOR strucure, as it wouldn't be diluted. It also creates a massive overhang and if I was an outside investor,it would make me seriously consider the objects of the board and there committment to shareholder value over time.
