Ann: Notice of Annual General Meeting, page-12

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?"