Not much discussion here amongst the remaining shareholders over what I think are some very interesting resolutions.
Like giving the MD 16,000,000 options (over a 4 year period). These 16,000,000 options represent almost 4% of the company. He's not going to exercise unless they're in the money, so SJ can effectively acquire almost 4% of the company risk-free.
Personally, I find it extraordinary. Is there much demand in the market for SJ that they need to do this? Isn't his salary of $265,000 per annum plus superannuation more than enough for a company of AGS's size?
I was in two minds whether to attend the AGM and leaning heavily towards not, but I'm now intrigued as to what the reaction to this will be, so I think I may well try to go.
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- Ann: Notice of Annual General Meeting/Proxy Form-AGS.AX
Ann: Notice of Annual General Meeting/Proxy Form-AGS.AX, page-2
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