Ann: Annual Report to shareholders, page-6

If you are looking for why NTC is becoming a capital killer you might want to consider the executive remuneration which is more than 5% of revenue. The insidious impact of $5.4m in 2018 for a few executives on earnings results in shareholders bearing the cost. The level of investment by the executive in shares - where they have put their own money out to buy shares - is pathetic and clearly shows a lack of confidence in their own business strategy. Look at the executive salaries of $500k plus for a company with 200 staff, basic financial functions and minimal marketing capability. Does anyone know what the 2019 executive remuneration projection was for 2019? I suspect this continuing growth in executive remuneration was a major factor in the ill conceived earnings guidance message and the catastrophic SP outcome.