The MD's base salary is not inconsistent with other peer...

The MD's base salary is not inconsistent with other peer companies but I don't disagree that a cut back is in order if the fat is being cut elsewhere in the company.

Many of you don't seem to grasp what rights are. They are issued with KPI's or catalysts and unless they are met by the vesting dates, nothing is earned, no shares are issued and the MD or other staff have worked for nothing other than then their salaries.

The rights being issued under res 3 is 1.63m in which they are tied to SP performance. If the SP doesn't perform relative to the benchmark prescribed they all lapse and are worth nothing. He is only rewarded if wealth is created. The 5m or so being referenced are rights issued under the plans approved by shareholders in prior years. If you voted yes or came on board after then there is nothing to complain about with regards to those rights being issued.

Res 4 is for 1.25m shares and is subject to him staying on-board, again if he gives up and moves on the rights lapse and he gets nothing and they are structured to keep him around for another 2 years, which given the propspects and deals he has put in place since IPO, its not a bad thing.