Ann: Notice of General Meeting/Proxy Form, page-104

I didn't really want to give commentary as the numbers need to be laid out clearly to speak for themselves.

To help LT voters understand the value of what is really happening with this announcement here are my thoughts.

The value of Wiltons performance bonus at todays value appears to be more than double his annually awarded salary, compared to that of his industry piers it is accumulation without investing capital.

Yes their performance is stellar using your capital BTW, however gifting obscene allocations is just stupidity and offensive to all current holders who paid and risked to invest, including the new 36m ANMA holder.

The management team should definitely be paid a bonus but out of cash.

Then let them decide to use their new bonuses to accumulate, compete and pay for more ownership on the market at a fair market price (not free) just like we investors do.

Keep in mind that the Directors can sell their new shares at anytime. (Wilton $610K plus salary no ties and walks away) and in 24 months they will ask you for more free shares thats guaranteed.


In summary:
Pay a bonus aligned with industry, Well done team.
Stop the share dilution it seems like an insane management habit/strategy.
Never give away capital unless something is received (acquisitions) - thats called value.
Pay a bonus linked to EBITA and REVENUE not just revenue alone.
Make the target a stretch like 120M - it appears that 80M is done.

Sadly I fear that the holders on Hot Copper are not large enough to actually make a difference and vote against this performance gift and share re appropriation.

Do Vote it matters.