What is everyone's thoughts around the the Remuneration items in the upcoming AGM?
Personally i am in favour of them all (although I think the Chairman's salary is too high)
The two that i will be voting against however is
6. Approval to issue Incentive Options to Director Gregory English . How does this chairman warrant another 5 million options? Im not sure he is the main person driving this business forward. When he was issued 5 million shares in 2019 the share price was a lot lower so little perplexed at why he needs this many?
8. Approval to issue Incentive Options to Director Kenneth Williams - Sorry Kenny boy, you came on board last year and was issued 1.5m options however you don't hold any shares in the company. Pretty piss weak you cant align your interests with shareholders and at least buy some shares. Quote from Annual report "The maximum aggregate amount of fees that can be paid to non-executive directors is $500,000 per annum which has not changed since Archer listed on the ASX in August 2007. These amounts are not linked to the financial performance of the consolidated Group. However, to align director’s interests with shareholder interests, the directors are encouraged to hold shares in Archer"
Hate to go all negative but I think the true value of Archer lies with the employees creating these new products, not the the directors. IMHO.
AXE Price at posting:
$1.52 Sentiment: Buy Disclosure: Held
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