I continue to look to IMU with excitement.Its got a great...

I continue to look to IMU with excitement.
Its got a great future.
The annual report read well. However, I did not get any picture that there was any mad panic to prepare for any takeover. Its obvious they are cleaning up constitution for this event but its not immediate. It reads to me as if takeover in next few years. Just my hunch. I really dont know.
They have even slotted a paragraph in the constitution that stops outsiders seeing board papers unless approved. So They are looking after each others backs in event of takeover!

I have stated that the directors are self interested.
They are stuffing their remuneration with share options.
Their remuneration of NON executive directors is not in keeping with the market. They are well overpaid. Fancy turning up to 12 meetings a year and getting $200k of salary. No wonder they want to be re-appointed.
It reads to me that they know they are going to sell in future and want to get as many shares for themselves as they can.
LC now on $700k package - ok

It reflects the directors think they are on a winner so they want some shares themselves. The only problem I have is they are getting them cheap and the salaries the Non executives are getting is over the top to allow them to get cheap shares.
The alternative argument for this could be if you say thats the cost of getting best minds in the world on your board. I agree Axels is fine. Thats arguable as well.
This is all good for long term shareholders. I am following the money and this all reads to continue to buy IMU shares as Directors are investing heavily in themselves and are on this horse and dont want to get off yet!

See salaries for yourselves



I will vote for changes as its all in an effort to prepare for a future sale/takeover. It could be next year. Could be 3 years away. Buts they are preparing for it