Trevor Matthews sits on many boards already
https://www.bloomberg.com/research/stocks/people/person.asp?personId=8517850&privcapId=9649229
This person is connected to 75 board members in 10 different organizations across 23 different industries.
On close to $500,000 a year, probably just finding ways to reduce his tax.
$120,000 is probably just loose change for him. He gets half of it back in salary in a year anyway, so really just extending the life of the company so he can pay for himself.
Why wasn't this raising done soon rather than have a cost to 1st where Plummer gets paid at an Interest rate of RBA Cash Rate +8.5%, currently 10% per annum. Great place for Plummer to have parked his cash at the expense of ordinary shareholders.
Ann: $2.48m Non-Renounceable Rights Issue, page-13
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