The way the document is written they are not trying to convince shareholders, its written as if its a formality slam dunk - the only thing that can be done is to voice an opinion at the meeting, and at least get them thinking.
Also increasing the ceiling on fees payable to the non-executive Directors from '$150,000 to $500,000 just because other companies do' is another pocket liner -
They either got to fill the pockets of everyone and hold themselves accountable via the performance rights, or it just another director pocket liner company and they lose credibility imo - not that I expect they will care a jot about it, just my view.
I am all for the strategy of holding off sales in the main until market conditions improve, but at lease turn us shareholders on with the 'we are in it together' performance targets, rather than issuing a document that feels very 'just for compliance' and 'its a formality'.
Anyway, I have said much on this, but I need to feel convinced in the management team delivering for everyone.
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- Ann: Notice of Annual General Meeting/Proxy Form
Ann: Notice of Annual General Meeting/Proxy Form, page-19
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