If we vote the motion down, it doesn't pass and they'll need to...

If we vote the motion down, it doesn't pass and they'll need to resubmit it. They need 50% of votes to pass and cannot vote for their own measure.

IIRC the 2022 vote was close for Oleg, while Peter and Jethro's was with a reasonable margin mostly because Olegs holding boosted them (51.76%, 56.57% and 57.97% respectively). DRO also received their first strike for the remuneration report. Refer to the 26 April 2022 Results of AGM for further details. Note: "The vote on this Resolution is advisory only and does not bind the Directors or the Company" They're not bringing this up again

The first ZEPOs vested on 16 August 2021 following $10m in cash receipts. Then the second batch of ZEPOs had a target of $50m which they blitzed, now it's at $200m. This time we're increasing the amount for Oleg and Jethro by 50% (up from 10m and 1m) and reducing Peters by 40% (down to 3m from 5m)

Given we have hit $70m+ for this year (standout performance) $200m seems a little on the light side in that these could be taken to be guaranteed to hit within the 5 year window. While previously i've been in favour of using ZEPOs (instead of cash bonus's) that was mostly due to our cash flow situation and the lack of ownership. While Oleg and Peter sold shares recently to cover tax allocation, they also reduced their holding during the year. This was the first time in the history (afaik) so generally im accepting of this as appropriate.

Since the last vote on 26 April 2022 we've see the SP move from 26c to 34c - a roughly 30% gain. At times however, we've been down as much as ~40% (0.155 03/10/22) against ATH gain of ~60% (0.42 - 24/01/23). As of today's Share price, these ZEPOs would award ~$5m, $1m and ~$500k.

This is on top of their existing pay and for Oleg for example, is something like 6x his Annual Salary for 2023. It's 10x what we pay Peter James and Jethro as directors. These are colossal bonuses at the cost of shareholder value. The $200m bar is too low for this kind of pay day relative to our previous targets and should instead be $250m. It should ALSO be subject to share price growth.

My sentiment at this stage is sufficient i'll bother to fill the forms and vote against this though i'll continue to seek views from here & via my own personal network.