was hoping someone here might pick these details up from this screen shot from the annual report of may 2024 regarding renumeration , posted the other day
The Fed govt grant (taxpayers money ) of $49mil was announced in an AVL asx Ann in July 2023
the coy had about $32mil in cash from a CR and institutional funding
the grant was to create new jobs and new industries in areas of low employment and with had certain provisions attached
the AGM for 2023 was in Nov ,
where by it appears that all company directors and managements renumeration / salary was increased by 33% to 50% from the 2023 figures to the 2024 figures and of course approved at the agm .
the AVL.asx , RNG committee (renumeration , nomination and governance committee) (is comprised of members of the AVL board and key management personal with advice from external sources ) ( mentioned in the fine print )
the RNG Committee recommended this increase in renumeration / salaries
all in compliance with the asx of course .
but is that ethical with the coy not generating significant revenue until mining late 2027
is that called rorting the Australian taxpayers ??
Is that called screwing the AVL shareholders ??
Are these directors generating wealth for its shareholders which is supposedly their mantra as directors
the AVL Market Cap currently stands at $103mil
the MC in may 2023 was $197mil , in Nov the time of the AGM I'm guessing $150mil
now go to chatgt or Gemini Ai what is the average renumeration of directors and management of asx listed coys
received the reply : was those renumeration salaries are for companies with a MC of over $800mil
the renumeration salaries were not altered at the 2024 AGM
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