I am not an expert on corporate remuneration policies, but at face value, this may be a case of the Board ignoring how shareholders voted to disallow the proposed issue to the MD/CEO Mr Allison.
Yes, great that the SP has increased from what was arguably a depressed level, but why has the Board gone against what SH decided?
What was the point of a vote if subsequently the Board could say 'no, SH were incorrect?'
It's analogous to how Australians rejected PM Albanese's referendum of October 2023, voting instead for a united not a divided Australia, but states like Victoria and South Australia then turn around and start or finalise negotiations for a costly 'treaty'.
Ann: MD and CEO Remuneration Arrangements, page-2
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