age article, page-4

Jojo,

Regarding salaries I suppose there is always going to be debate, but with COE there were bonuses for doing the day job, the number of options issued were incredible, and yes Scotts package is significantly higher than McGanns (which include expat costs).

As for options, well IPM haven't issued any significant number in the last two years. I think those referred to are from the float, and it is not at all unusual or suprising to have founder options as part of an IPO deal.

Perhaps what gets me with the COE director options is not their issue to provide management an equity stake and alignment with shareholders, but rather that they have instead been used as a replenishing revolving door source of cash for the recipients. The b's sell them all, then get issued with even more.

Anyway I no longer see COE under it's current management as a long term wealth creator. Their plot isn't one I wish to follow. The overly diverse ones, eg ROC,NWE,SUR never get anywhere. We saw with HDR how they were too scattered and assets like Guyane just drifted.

EL