Ann: AGM Presentation, page-9

Precisely.

A company today generating $2.5bn in Revenue and Profit Before Tax of $106m, which it has grown at compound annual average rates of 19%pa and 24%pa, respectively, over the past decade...

.... And the base remuneration of the top 4 executives (CEO, COO, CFO and CIO) and the 3 independent directors last year cost the owners of the business a trifling $657,000 (not a typo...that's six hundred and fifty seven thousand dollars. In total. For the top 4 key managers and three directors [*]

Sure, truly massive bonus pool paid out($7.3m shared among COO, CFO, and CIO ... CEO gets no bonus; actually he receives no remuneration at all! He works for us for free) but it means the at-risk compensation is multiples of the very modest base salary/fees.

If my managers don't get results, they cost the company very little.

And if they shoot the lights out and create wealth for me, they get handsomely rewarded for it. Fair enough, I say.

It reflects very good alignment with my interests as an owner of the company.

I'd vote YES every time the Rem. Committee in any one of my investee companies puts forward that kind of arrangement.


[*] CEO and COO receive zero basic salary





The proxy advisors who voted against the adoption of the Rem. Report are clueless.

.