Ann: Notice of Annual General Meeting, page-5

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jghaf

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18/10/19

23:06

Post #: 40963559
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Originally posted by Abacoolloo: ↑

So here’s my take on things

”one-off grant of Long-Term Incentive Options”

Really?!?!?!?!?!, because I’ve been a shareholder for three or four years and this certainly isn’t a “one-off”, in fact the cap has been held out every year. Come on guys, let’s call them what they are “freebies” albeit with a nominal/token fee attached to them and the reason these are freebies is because they are for the same performance objectives that are never met so management just re-issue them once they lapse, so please explain where the incentive lies?
I own shares in a company that for the last 12 years has had its share price increase over 800% and given dividends and not once has the management asked for a freebie or an incentive option, they’ve just performed and created wealth. These guys should be embarrassed to be asking for what they have. Disgraceful.

”The potential dilution impact on the granting of these Options has been carefully considered and is calculated to be 6.49%.”

Really?!?!?!?!?!, how did you carefully consider it? Buy picking a number and thinking how many zeros you think you you could get away with?

”The proposed Options will have an exercise price of 50% above the 5 day Volume Weighted Average Price (VWAP) ending on the date before Shareholder approval for the Incentive Options is obtained.”

Really?!?!?!?!?!, This sounds like a big disincentive for them to get the price moving before shareholder approval. Is this what is causing the delay in the first shipment of DSO? To have a lower VWAP? Certainly raising my suspicions. And now also raises suspicions about the capping at 6’s.

”Finally, I would like to thank our loyal Shareholders for their ongoing support and your Board looks forward to delivering significant value to you over the next 12 months.”

Really?!?!?!?!?!, What a stupid thing to say! Isn’t that what they are supposed to do! And what they are supposed to have been doing! Diluting my investment by 6.49% is not creating any wealth for me for starters.
I tell you what Mr. Craig Monroe and posse, create some wealth for me and other long suffering share holders by getting the share price to 5 cents and then I may consider voting yes...until then it’s a “NO” from me and I hope other shareholders do the same.

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agreed. Needing an “incentive” to fulfill their corporate objectives? What a joke.

GMC Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
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Add GMC (ASX) to my watchlist

Ann: Notice of Annual General Meeting, page-5

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