Ann: SDL to Launch Capital Raising, page-47

GC has already reduced his salary and is being issued shares in lieu....

"The Board and management of Sundance have taken further steps to minimise expenditure, ensure the ongoing needs of Sundance are met and it is in a position to execute the development strategy.

The Managing Director has volunteered to reduce his cash salary to $165,000 per annum, while it has been agreed that the Chairman will only draw fees of $60,000 per annum. Other key executives 31 December 2016 Quarterly Report employed in Perth and within subsidiaries Cam Iron and Congo Iron have also agreed to substantial salary reductions.

The Board will offer options over Sundance shares to the Managing Director to retain him in his role at Sundance at a reduced salary. The issue of these options over Sundance shares is subject to shareholder approval at the EGM on 17 February 2017".​