I thought the size of performance rights to directors is a bit steep, but begrudgingly accept it.
But the monster rights going to our MD is ridiculous!
His first tranche of rights kick in when/if we get back to IPO price.
My best guess is that he is doing this to try and claw back a majority stake in the company, which he hopes will maintain as a controlling stake after (if) we float on other exchanges.
Also perhaps because he didn't reach much of the previously obscene performance targets over the last few years.
I will be voting against his rights. The rest can go through.
One question for the meeting "how many units have been bought AND paid for?"
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RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
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MD & CEO / Non-Executive Director
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