Considering the drop in the share price over the past year, I think it is a bit rich of them to be asking shareholders approve the issue of 1.9mil options at a nil exercise price to the MD even though one of the hurdles is a 50% increase in shareholder returns over a three year period(probably measured off the low base of 15c).
And they're asking shareholders to vote against the appointment of the APAC Resources representative, Brett Smith even though they are currently the largest shareholder(or were before this placement).
Maybe I'll be voting contrary to the BOD's recommendations on these two resolutions.
MLX Price at posting:
17.0¢ Sentiment: None Disclosure: Held
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