Ann: Notice of Meeting, Executive Incentive Plan and option issue, page-7

I probably won't object to Cath's options but in general I believe that ASX company management is overcompensated/renumerated. Sure I see the argument that rather than dig into cash reserves to pay them more, options are issued as part of the package. But really, as a "motivator" isn't a salary enough? Why should executives have to be given "incentives" to do what their job entails?

Also, if management are to be rewarded in this way surely long-suffering shareholders should also be rewarded. I would propose that when the next equity raising is done it should be offered to shareholders and for shareholders who have held for some nominal period (say > 12 months) we should get one free option for every share purchased. Only fair really as we are taking all the risk and we don't get paid to take that risk!!

H