Fair call ak65 - there are plenty of examples of overpayment or...

Fair call ak65 - there are plenty of examples of overpayment or undeserved compensation but in this case I think we have got our moneys worth - 150k for up to 2 years of a part time CEO is cheap and the fact the she has got more because the SP is higher is a result of value added to the company (not just her but she is leading it at the moment).

I just love it when execs and Boards are aligned to shareholders interests and I have never found a better way than through options but the consequence simply has to be that they sell shares at some stage - not buy them. That is the most likely outcome but another is that she sees massive upside and would like to start the clock on CGT so maybe there is a year before she sells. There are always many possibilities.

After the recent (excellent) Board appointments we are a little science heavy at Board level so having an independent corporate lawyer with her experience is pretty handy.

The structure for the last year turned out to be very cost effective - we have basically had a part time CEO & part time CSO that were paid a modest amount through shares that turned into a meaningful amount through value appreciation - we all win. PW is the original architect of what we have so I think deserves financial reward from share price upside - the years of dilution had impacted his potential participation so it seemed fair to me at the time to offer him an accretive package to retain his involvement.

I'm not sure a full time CEO & CSO could have achieved more in the last 12 months then the 2 who got option packages have achieved but I'm still hopeful that we make a full time appointment within a year of RH leaving - the IR has ramped up but we still need a public leader IMHO.