Ann: Appendix 3B, page-12

Why the management bashing? The options are priced at 37% and 58% premium to today's sp. The new md is getting paid $400k less than PB per year, so it's only fair they get options to compensate. It's not as if the options are free. I'd be pretty happy if the sp gets back to 25c+. This will mean the options are in the money but more importantly I'd be well in the black which will mean the company is on the road to recovery. Let's not forget we were starring down a single digit sp not so long ago.
New mgt cannot be blamed for past failures and from where I'm sitting, the md's salary is very reasonable unlike what was being paid to PB. Now it's time to deliver.