@xfactor1 re: "The argument that key executives leaving poses a risk to the project is unfounded....(sic)" ~ hopefully we don't find out, eh! "(sic)...in the event that some depart and short-term challenges are created, Ganfeng has demonstrated its commitment to the project through substantial financial investment and has the capacity to address these issues (including potential staffing challenges), noting it is now their sole responsibility to do so given how the project has been handed over...(sic)" ~ obviously, you are still missing the point, if Ganfeng has the capabilities to address potential staffing shortages, and I do note that you conveniently omitted the "staff" in question are key to Leo Lithium's ability to adequately provide the service for the transition to project completion and operational expertise for Ganfeng to be operational capable to take over the mine.
++ Why are they paying the Retention Award to these staff if anyone can just replace them? ++ again, have a look at the 2023 Mining Code and Exploitation Licence.
"(sic) .... Leo Lithium can also find replacement personnel if needed given they are being incentivized (paid) to do so.....(sic)" ~ but will they have the required capabilities & expertise needed and in a time frame that won't impact the service agreement?
re: "I'm not sure if you've ever worked in the corporate world, but individuals' performance is often outweighed by business conditions (circumstances outside of their control) all the time. It's quite evident for most individuals this year. Even if you smash your targets and are well deserving of [x] bonus or [y] promotion, it may not eventuate due to bad luck. This company shouldn't operate any differently. Especially since we all went into this with our eyes wide open knowing full well what it was we were getting ourselves into. The risks were identified in the prospectus for a reason."
(1) After all the phone calls we have had, including discussing my work history, you know I have never worked in the corporate world, whereas I know you do, if this is some sort of (corporate knowledge) muscle flex , meh!
Just to recap for you, I was expelled from school in Form 2 (for all you that don't know, equivalent year 8) and my first job as a 14 year old I shovelled coal into a shot blast furnace for 10 hours a day, a 4 year apprenticeship to become a Chef, short stint wool classing for various large mills, and I spent the last 40 years working in Oil refineries and Gas plants, so no collar & tie for my line of work, nor HEX payments, just a grunt worker.
Everything in an educational sense has been self taught, but at times (when I started investing) assisted by HotCopper posters especially when they would drop an email to correct errors in my commentaries on a Company's accounting and financial reports, but never done in a condescending, greater than thou attitude. ~ I am also old school, and as such, I don't use an AI program to help reword and/or reconstruct my writings to be more assertive or convincing. I am pleased with what I have achieved, your attempted muscle flex -- has dismally failed. ~ You can go to Universities and be educated by some of the greatest minds, you can walk out of there with a self determined high level of self importance and intelligence but that doesn't make you automatically smart!
(2) The Corporate World, sorry but I actually laughed at your naivety, this is the ASX and they operate differently and there will be a light bulb moment when you get it. Trying to apply the logic of the "Corporate World" to the real world of ASX listed Companies to support your reasoning on why they shouldn't be awarded the payments (either by performance shares, cash or a combination of both) after achieving their respective KPI's has nothing to do with the business conditions.
The incentive plans available to eligible employees and there outcomes are based off a weighted average of 60% of the Corporate scorecard and 40% off the Individual scorecard.
++ The Remuneration and Nominations Committee has protocols in place to ensure that remuneration recommendations, (as defined by the Corporations Act) are made by independent consultants. The objectives, weighting percentages, corporate and individual weighted averages are all formulated with the recommendations of both the "The Rewards Practice" & "BDO Rewards" consultants utilising benchmarking reports for the energy and resources sector.
** Reality check for you, quoting from previous Company announcements; re: "The Group aims to align executive remuneration to our strategic and business objectives and the creation of shareholder wealth. However, these are not necessarily consistent with the measures used in determining the variable amounts of remuneration to be awarded to KMPs. Consequently, there may not always be a direct correlation between the statutory key performance measures and the variable remuneration awarded."
(2)(a) re: "(sic) ...... It is quite evident for most individuals this year." ~ I take it you mean, individuals working in the Corporate World because the only thing that is evident to me, is the price of petrol at the pump goes up when there is a long weekend coming!
(3) re: "(sic)...., it would still unnecessarily increase costs without providing commensurate benefits." ~ I don't disagree with this, but I am willing to forego a small percentage (.968% of $0.16c) component from my tranche 1 payment, even more so that the cents per share has been increased if it means this will all progress without complications, regardless of how little chance of it happening you consider it to be.
~ from my calculations the cost of Resolution 4 equates to $0.00155 cents per LLL share held, using an arbitrary figure of 100,000 shares. ++ 100,000* $0.00155 = $155.00, using the revised (lower) tranche 1 payment per share of $0.16 = $16,000 (100,000* $0.16) bear in mind also that the original (lower) tranche 1 payment was $0.13 = $13,000 (100,000* $0.13). ** Agree or not - care factor zero, but it is in my best interests to vote for Resolution 4.
Question for anyone; If resolution 5 is not carried, will that mean the current Termination Benefit will be still applicable? The current Employee Awards plan also has Good Leaver and Board Discretion clauses.
Educated v non Educated Corporate World v Coal Shoveler But here we are, both stuck in the same stock ......
Go figure ... ... ... ... ...
LLL Price at posting:
50.5¢ Sentiment: None Disclosure: Held
sorry but I actually laughed at your naivety, this is the ASX and they operate differently and there will be a light bulb moment when you get it. Trying to apply the logic of the "Corporate World" to the real world of ASX listed Companies to support your reasoning on why they shouldn't be awarded the payments (either by performance shares, cash or a combination of both) after achieving their respective KPI's has nothing to do with the business conditions.
(20min delay)