When determining compensation you consider salary and then bonuses based on milestones that delivery value to SH. You also consider how much to compensate, based on the peers within the industry.
What we need to consider is does 30c present great value for SH given we are expecting around 90c on initial production and greater when for example Muchea comes online and does a total package of around $900,000 sit within market expectations.
I will be voting no because both the total amount of the package and the levels to trigger said bonuses are too low. I am not opposed at all to paying an MD large sums, however these need to be stretch targets for milestones and SP especially given the generous salary at pre-production. What is being proposed is none of it. Bonuses should not be a given they should be earned. At 30c its a joke given how the SP has performed over the past 6-9 months.
I honestly think BM is in dream world now with his remuneration package and will be voting accordingly.
VRX Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
