Ann: ORA - Completion of Institutional Entitlement Offer, page-45

Hi Optimistus,
Just in case you were worried that this episode might have impacted negatively on the employee incentives , dont panic.
They anticipated that . Below is an extract from the last financial report.[ page 59]

For FY24,

• Removal of the Absolute Total Shareholder Return (ATSR) gateway on the LTI plan to align the plan with current market practice

I presume they did that to better align the incentives with benefit to the shareholders.[excuse the sarcasm].

Whenever I think there has been a particularly irritating performance by a board , I look at who the chairman is.
I then see where else he is collecting a cheque , and think very carefully about whether it is worthwhile owning a share in any other companies with him on the board.

My strategy on this ORA is starting to look like selling what I have at around 3 bucks[if I can].
Taking up my entitlement , plus whatever else I can get , then selling that.
I am too old and grumpy to worry about "board risk" as well as business risk.

cheers