So the WZR employee incentive plan was voted against at the last AGM - with over 50% of the votes being NO votes.
But management have decided to issue a massive amount of 31.74m performance rights to Andrew Goodwin & Joanne Edwards anyway
Which is over 2.3% of the entire issued number of shares in the business
And these "31.74m no cost performance shares" are now part of the companies 15% placement capacity in this FY - which limits WZR's ability to raise further capital without holding a special meeting
There has been a lot of grumblings on these forums that WZR management have paid themselves far too well in the past & present.
But surely the issuing of these 31.74m "no cost" performance shares "takes the cake" over all their previous perceived greediness - especially in light on what has happened to the share price over the past few years ?
Clearly macro factors have been against them, but there has also been some significant mistakes made by management (eg spending $5m on advertising during the olympics) - and the granting of this massive amount of performance shares is a really bad look IMO
WZR Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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