Wages must be paid. That is always the top priority and so it should be. Management have toiled tirelessly for years and they deserve it. It has also been a v difficult time for them so a decent swag of low priced/long dated options should also be considered, rubber stamped by Shareholders and subsequently awarded. If a capital Raise is required, well then, that is the Shareholders responsibility to ensure that they participate in it.
It is not Management's fault that IO is in the doldrums. They are well qualified, diligent, industrious and shareholder focussed people.
The fact that Shareholders have been crucified does not mean that Management should suffer. Shareholders must accept responsibility for and suffer the consequences of market turmoil, IO downturn, failed T/O deals and essentially anything else that goes wrong (and it looks like anything that could have gone wrong has).
Management have families, debts to pay, lives to get on with, high calorie business class food and travel with the ever present risk of deep vein thrombosis to contend with. Shareholders do not have these unpleasant and detrimental risks to deal with - a simple nourishing sandwich lunch and a car/bus/train/shanks pony trip to work is no where near as exhausting or bad for the health.
Far from cutting their modest salaries, Management deserve a decent increase + options etc. They are the leaders, they know what is best and they need to be adequately incentivised..
I believe that it is high time a shareholder(s) lodged a special meeting notice to acknowledge what management has done and to reward them appropriately for their sterling efforts.
Credit where credit is due.
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SDL Price at posting:
1.7¢ Sentiment: Sell Disclosure: Not Held
