Ann: Notice of Annual General Meeting/Proxy Form, page-8

I seriously thought it was a typo when I first read it....30,000,0000
Thats how many shares they want to reward themselves as Directors and undisclosed employees as performance incentives.
I have seen a lot of greedy grabs by BODs over the years but this one takes the cake.

It is so over the top it almost needed a disclaimer "this is definitely not a typo"

Another company I hold is asking holders to approve less than 10m and I was so pissed I ask the CEO to confirm how many staff they actually have (because I figured I must have overlooked them employing several 100 staff) . His response:

"Yes, I agree performance rights/employee share plans can be taken too far, particularly with easily achieved milestones. We are planning to set ours only around encouraging the Directors/staff to be proactive in the promotion and growth of the company. Examples include share price milestones, significant operational milestones, commercial deals etc."

I Voted No to those and pointed out to him that they are already paid to do exactly that!

There should be an ASX requirement that companies divulge exactly who they plan to give performance incentives to, if they are staff or Directors, how many, what the milestones are and verify that these were achieved....within the space of 1 year max! Lets face it if LM8 were brave enough to say...each Director will get 5m shares as a fat bonus if the SP exceeds $10.00 ...we could all happily vote yes ...but my bet is those milestone will be weak as piss .....SP over $0.80 cents for 10 days running or similar

This 30,000,000 grab is SOOOOOOO extreme I have additionally voted against their remuneration as a 1st warning to the BOD that if this is how they plan to run the show, shareholders activism in this form is the only response we have.

564xxl PS. 30 million ....30 freaken million
PPS Note how the SP has been sliding lately ......makes achieving milestones easier!