I would agree with fairness of hurdles if they were based on FY20 but not after earnings went down 80%
My view in this case to restore earnings to at least the same level as FY20 should be hardcore minimum.
Another point is the amount of new rights - over 4 mil, really? Even at today’s price it’s over $30 mil. For years they have been sitting on hundreds of millions and haven’t returned a penny to shareholders but had no problems to give themselves tens of millions in bonuses at every opportunity. Don’t let me start about PN. So, when times come watch out at them dumping those shares on the market as soon as they can. Won’t surprise me. And once again, I’m not against good rewards for the job well done but this is pure rip off
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