Ann: Changes to CEO remuneration, page-13

Yeah thats exactly it. Its like raising more money in a CR, but to the CEO, at a massive premium, that he has to pay back over time. He is betting on gradual sustained price growth over a long period.

Its designed to give incentive and retain him as long as possible. In my mind that deal does that for sure.

And if anything puts that pay rise and a large chunk of his own money, back into the company for use anyway.

The coffers should actually end up more full in the long run, and the dillution comes at a very large premium and goes to the CEO.

Means he has a lot on the line now as well. Its even more important to get it right. Sure we need to see the actual terms of the loans. But there are minimum legal requirements for this when it comes to ASX and the way things are currently you can bet they will have close eyes on all deals like this.