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Ann: High Level Meetings with Tanzanian Government, page-81

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unicrumba

5,249 Posts.

2583

01/12/17

11:45

Post #: 29287217
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Originally posted by Slogger ↑

heaps of deferred payments and deferred expenses - refer your own annual report - how much is needed for a catch up?:

Accordingly and regretfully staff cuts have been made both in Australia and Tanzania together with elimination of all non essential spending and a tightening and or deferment of all expenditure.

As a result, the Kibaran team have agreed to defer a significant amount of fees and salaries and to forgo any salary increases or bonuses which otherwise might have been expected in recognition of the very material accomplishments achieved during the year and the hard work underlying them until this period of legislative uncertainty passes.

To achieve this, we are seeking your support and approval to grant deferred equity compensation to each of the directors, at the prevailing market price at the time of issue, ………………

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Yes, we know Management is deferring part of wages and fees until finance is secured, and they advised they are willing to defer even more if finance takes longer, in return, they have received a very nice parcel of shares for their cooperation. Both SH and Management win or lose, gotta be happy with that.

KNL Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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