Whilst I appreciate that the debt was extinguished, this is surely taking the piss. Ransley was the reason we had the debt (from the failed entry into Mongolia - his baby) and was repaid largely due to the high thermal coal price, not really from a lot that he directly did. To pay him a bonus of $2.4m for this seems excessive.
I don't have any concerns over his STI and LTI of $930k, but the Euroclear bond bonus seems excessive. I wish we were being given the option to approve 1 part rather than in full.
Ann: EGM - Notice of Meeting and Proxy Form, page-2
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