kid genius???, page-11

Where I come from if your good enough your old enough. I believe a young gentleman by the name of Wyatt Roy just got elected to federal parliament ( The youngest ever and from what I heard his maiden speech was a pretty good one )

Age doesn't seem a barrier at Cudeco . The head GEO is another young gun who seems to be going the distance in the Hot Cloncurry sun where others have moved on.

Iceman I am not going to debate the merits of the Black Scholes valuation system because as you say thats the estiamted cost to the company ( shareholders by dilution for time an interest premium ) at the date they were voted.

As I said earlier I prefer an incentive based remuneration system for both staff, contractors and employees. The strike price at $6.50 I thought was fair given the directors had steered us through and survived the GFC, got the share price from sub $1 ( GFC low ) to a cap raising price of $2.50 to around $5.80 at the time of option vote.

I grant you the share price performance since has been woeful. The tax is still payable on the options at the figures shown in the annual report. In hindsight the recipients probably wished they had got voted down as did Wayne Mccraes.

Given the current share price I don't believe salary increases are justifiable at this time but I think voting against them will only be a protest vote as unlike the issuing of director options the salary packages would be deemed to be reasonable for directors of an ASX 200 company so I think unless there is monumental outrage over that issue at the AGM and the directors voluntarily withdrawn the motion their pay packets are going to get fatter.

My point is that figure you quoted is purely a book entry and none of the directors including David Taylor actually received those amounts into their bank accounts yet they still get the tax bill as if they did.

Granted if the S/p is well north of $6.50 before expiry then they have got a very handsome reward. Remember the company does still receive the $6.50 out of the directors pockets if the options get exercised.

Cheers Hoot