I will be rejecting following three items put forward for voting:
1. Resolution No.1 - Remuneration report - as usual CEO wants 3m in salary with 800k base but 900k as termination payment ... lol ... he is worried that he might loose job so to make it hard to sack him he is keeping termination payment higher than his base pay scale... IMO.
2. Resolution No.3 - Issue of security under incentive plan - This is dangerous once approved management will keep paying themselves securities even if there is no return to shareholders over the year (no dividend). Company executives should only consider giving themselves incentive once dividend is started so probably after F/Y 2022/23... IMO
3. Resolution No.4 - Grant of performance rights - again why give performance rights when company hasn't started paying div. to shareholders until such time they start div and start paying back to the owner of the companies they shouldn't be paying incentives to anyone as everyone get's their salary to cover their work. .. IMO.
If you are voting online then click on "Direct" vote instead proxy vote and then cast your vote.
Many retail investor with small shares don't normally caste their vote but it is important that everyone whether you got 10 shares or 1M shares in the company please cast your vote without failing. To keep your company on track and provide you return over next year it is important to caste vote.
Company will make remuneration report as complicated as possible so for simple individual it will be difficult to understand it let alone read all pages and hence simple rejection will serve the purpose...if you believe it is too much to pay CEO 3m in combine wages after getting no dividend for a year... IMO. I have not seen a company with remuneration report clearly giving KPI target to CEO to increase dividend payment to shareholders and unless you see that type of KPI it will be easy to reject then feel sorry afterwards... .IMO.
By all mean please read the report and do caste your vote to your own discretion but make sure you caste the vote whichever way you want to do it.... DYOR before casting vote... IMO.
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I will be rejecting following three items put forward for...
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