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Ann: Investor Presentation, page-25

  1. 809 Posts.
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    I don't think you can bring remuneration down for FY18:
    - as the performance rights for FY17 vest around now and in June 2018, and should appear in FY18 accounts
    - unless both non executive directors are replaced, the management-friendly Board will grant management pay rises and bonuses, irrespective of total returns to shareholders (which since the reverse takeover has been negative)
    - even if the remuneration is voted down in November 2017, the Board can still go ahead with remuneration, and then hire a remuneration consultant (the same ones they are using now, of course) to say it is consistent with (appalling) market practices
    - the restructuring costs for removing management are probably onerous, and then there is a need to find replacements.

    The rest is probably doable, except reducing interest costs to that level.
 
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