Ann: Notice of Annual General Meeting/Proxy Form, page-29

I can't agree with some of the comment re remuneration. I voted NO for the reason that NEA is not putting the runs on the board. If management are not "interested" then leave asap. The shareholders (owners) are not being paid due respect here as the management is not performing above average so why are they due a bonus. Being an owner and a manager and trying to grant yourself a bonus puts them in the same realm as a politician. Reward good performance by all means but NEA, so far, is a team that is just making up numbers in the competition. When we start being competitive then the captain can get a rise but not at the moment. And return trip to sydney for the AGM is close to $2000 for me so staying after the meeting and asking questions is irrelevant. Also, I've voted NO for several companies' remuneration reports because of exactly the reasons above - some of the rises were in the region of 40% for doing an average job. Only two have deserved a YES.