Option 2 is more accurate, but doesn't go far enough. The BOD and the management have never shown any indication of acting in the best interests of the shareholders, over the last few years at least. They've lined their own pockets from selling shares, and played loose and fast with the facts concerning the state of progress on all fronts. I think this half-pay measure is an attempt to squeeze the last few drops of cash from the company for as long as posible. What about that AGM from a year or two ago when they packed everyone into a hot room in Perth and refused to address some serious issues on the state of the company ? The BS is all there for all who want to see it.
All IMHO, DYOR
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