1) Although the share price looks fantastic compared to the recent 12c lows, it has merely played catch up. Could not the company at least attach a share price hurdle to each outcome? The share price is actually 99% of the definition of success but clearly not in the company’s eyes when greasing the palms of its executives.
2) I completely agree that those outcomes are totally within the spec of a reasonable job description of a CEO so are very generous for simply doing your job. Assuming a fair share price of 50c, is being issued $4.5m in shares for 18 months of work with an outcome of simply doing your job very generous?
3) There is no meat around most of the KPIs. For example having Youanmi financed can have multiple scenarios. It could be as good as 30% share register dilution at $0.50 per share or issuing a squillion shares at 18c to your mates. The “success” of the last CR in the corporate spin was totally based on the $s raised but no reference was made to the share price of the issue.
4) From memory, Rob Ryan had 4.5m of freebies on offer. Why the need to double that?
5) Why has the company ditched executive options as an incentive ? Obviously because you have to put your hand in your pocket and achieve a certain share price. Freebies, with no share price hurdles are much more palatable.
To show some respect for shareholders I would love to see PW buy 1m+ shares on market with his own money.
RXL Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
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