I have no problem with the MD receiving the amount of rights suggested, but I think that there is an aspect of good or bad luck that could unfairly impact the outcome. I think the incentives need to be more aligned to performance based on how the market goes, and how IMD has performed at similar stages in the gold and resources cycle. Also half or so should be aligned with actual measurable outcomes that are related to his endeavours. I think that what has been devised is very lazy and potentially could lead to some gambling tendencies (oil and gas anybody?). We have seen some gambles pay off in the past, and some haven't. As a shareholder I would like the focus to be on the main game - then we will make a fantastic return over the typical cycle.
Any thoughts?
IMD Price at posting:
93.5¢ Sentiment: Hold Disclosure: Held
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