Ann: Notice of Annual General Meeting/Proxy Form, page-10

hi Davey Boy, I have done a bit more rummaging around on this, my pet hate incompetence with its snout in the trough which I don’t think is the case with these guys.
The Directors fee pool is not the actual spend but the total amount the whole board has approval to pay themselves from the shareholders. For even a small cap $400,000. would be at the lower end and their current fee of $50,000 is also at the lower end. The pool can be used to increase the fee OR increase the number of Directors, I think if they intend to use additional it will be for the latter given there is now only three non executive directors one of the former directors died and one retired.
These guys don’t have a track record of trough diving!!!
The options for Dr Hinch is a little more confusing, in her contract announcement on the ASX 8/11/2016 it says she will get 20 million options in 4 lots over 3 years. In all of the years there mentioned but not allocated???
The other interesting thing is they were priced at
5 million @ 5 cents
5 million @ 5 cents
5 million @ 6 cents
5 million @ 7 cents
now she has 10 million @ 3.5 cents
she gets a further 5 5 million @ 1.5 x VWAP which on current VWAP @ 4.5 cents would make them 6.75 cents.
5 million in 12 months time @ 1.5 times VWAP which could be well over 7cents ???
This doesn’t make sense but maybe it’s the new Board house cleaning. Worth a question at the AGM but I will have already voted .
Anyway for me it’s a very big YES because I think these guys have talent —- and now you know the trashy TV I watch !!!!