Anyone else voting no to the Remuneration Report and the Additional 10% Placement Facility?
I think our Managment do a fantastic job but don't feel they deserve a pay rise with the share price performance over the last 12 months and their failure to resolve Tabalong (yes I am well aware of how Indonesia works). I also do not approve of the additional 10% placement facility (they did it last year so now the placement facility is 20% in total and can be done without shareholder approval).
They way I see it is that management can have their payrise once we have sustainable cash flow (all be it just around the corner if all goes according to plan) and once we have a cash buffer. Interesting to note that the salaries for our personnel is $1M annually (yes comparable to other companies our size) but we only have $1.5M on hand at 30 June?
Always interested in others thoughts, and this was by no means a dig at our management, just I think their timing is a littl off with it.
AJM Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
