"What is my business is what they do with our cash. The fact that they have been party to accepting rights in lei of payment is enough for me, and it certainly puts them in a more precarious situation than asking them to buy shares.
Think for a moment if we had had to come up with cold hard cash to pay these men how much further behind we would be. Indeed if they had taken that cold hard cash and bought shares at today's prices the gap would be doubled to what it is now for them and indeed us. So the reality is we should be thanking them for their early endeavors to resist temptation and dive the hand into the donut box."
LANCE!! Are you serious here?
This is from the prospectus:
Mr Bouris receives no cash remuneration personally from the Company. However, a
company associated with Mr Bouris is entitled to receive an annual consulting fee of
US$350,000 for providing the services of Mr Bouris as executive chairman of the Company
Mr Ting receives no cash remuneration personally from the Company. However, a company
associated with Mr Ting is entitled to receive an annual consulting fee of US$275,000 for
providing the services of Mr Ting as an executive director of the Company
I have no problem with them being paid. However, if they are not willing to buy shares in this company, perhaps they can award themselves with an extra $100k each so that they can buy shares. I would vote for this.
The message sent by them a board of executive directors not willing to buy shares in the company which they run is not a good one. But as has been clearly obvious on numerous occasions, the board are pulling out all of the stops to dress down this company and it's prospects. Why?
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