re: Ann: Reed Resources Appoints Luke Tonkin ...
Hi Guys and Gals,
Having a look as RDR for the first time as been a long time shareholder in Mount Gibson which Luke Tonkin seemed to do a good job bringing into production and big increase in share price until he quit last year after issues with the board.
However looking at the announcement and last annual report bit concerning that the Chairman's son has effectively been demoted yet gets a 50% pay rise and 1.5m share and performance rights bonus to sign on with a company he already works for! And no point in shareholders voting against as gets cash compensation if shareholders dont approve.
Anyway decided against investing as rights issue is going to hold down share price though looks like a sure bet working for them.
NMT Price at posting:
21.0¢ Sentiment: None Disclosure: Not Held
