agm, page-8

yesssss!!!! this one's in Melb :)

I'll be there with tomatoes ready to pelt the retards who voted yes last time 'round on the Incentive share scheme for management.

Let me see if I've read this correctly...
- Management issue incentive options at the current market price with an exercise date 3 years out... at nil cost to recipient manager!!! but instead the cost is passed onto the shareholder.
- If in those 3 years, management do stuff up, do not generate profits for the company, lose the company's cash; and as a consequence need to raise capital (again)... they can lower the strike price of those incentive options... I mean what the...???
- Management don't need to declare sales of shares issued as a result of excercising incentive options if the sale is conducted withing 12 months of exercise???
... thus management can sell - thus cause a downward pressure on the share price - issue incentive options at the depressed price... blah blah so on... it is MEGA MEGA deckuf up.

- The job of directors IS to work for the best interests of the company... why anyone thinks they need an incentive to do a job they're paid for is ni'f BEWILDERING. (A bonus $800k on top of a bonus $150k for a $250k for Gorman last year??? someone's obviously lost the plot with pay packets around here... we're not running BHP here, it's tiny weeny little Molopo.