Ann: Notice of General Meeting/Proxy Form, page-162

I'll start by saying that I share your and other poster's views that this is a back scratching target and my initial reaction is that it's low balled the average SH.

However, I have been trying to put some perspective on it and ultimately it's the timing that stinks really. If they had put this KPI up a year ago and said we will give these performance shares for achieving $80m consolidated revenue, our own manufacturing plant and a dedicated product line then we would probably all have jumped at it.

Looking back almost a year to the day, unfortunately the SP is the same as it was, but the business update announcement then stated the quarterly sales were $577k with a net loss of $651k, albeit predicting a jump to take on the $16m of GF.