It seems that just like last time the board is setting the bar too low.
Not only is that, the incentives not even tied to Share price this time and we all know what happened there.
Simplest example I can give is the fact that in pre-consolidation terms our share pool (fully diluted) is around 11 billion (I have not done exact math but we are around that mark already)
We have to stop diluting Lom. The share price would be double without dilution that took place so far since the consolidation took place. What is the point of consolidating if we keep on diluting?
Look at Gem diamonds for example - They have around 135 million shares. We are approaching 400 million shares. This is insane.
My votes will be as follows.
Resolution 1 – Yes
Resolution 2 – Yes
Resolution 3 – No (Or yes if incentive shares and options are voted no – Board cant have the best of both worlds – Secure ample funding through share issue at expense of shareholders and then use the funds to achieve the goals that will get them free shares – Its either one or another) I am not giving away my shares so that they can have theirs for free.
Resolution 4 – Yes
Resolution 5 - No (Or yes if no share issue is done - as per point made on Resolution 3 – Board should not set the bar so low = its either one or another)
Resolution 6 – No (or yes as per point made on Resolution 3)
Resolution 7 – No (or yes as per point on Resolution 3)
Resolution 8 – No (or yes as per point on Resolution 3)
LOM Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
