IMO you are spot on with your ideas. I can't fathom as to why shareholders/investor are so apathetic about this issue, and aren't exercising their rights to vote. And that, IMO, is the reason that Directors can put these thing forward simply because they know full well that the majority of shareholders will not bother to vote, while, at the same time, they can vote their own holdings in favour of most resolutions. And, with the amount of shares that they do hold, they can sway the votes in the way they want to.
For the ones that think that Directors have always the interest of shareholders at heart first and foremost, they better think again. Because their interest is always in what they can get for themselves, and for as little as possible as well.
I simply can't comprehend as to why these people they are, year after year awarding themselves all those incentive options and shares without even doing anything to improve our share prices, and while the investors are left out hanging to dry for little in return, if not in a worse position.
Besides, when these shares are issued, they are always in the money, and with an excessive leeway to make them as profitable as possible, while again, we are left holding the baby.
I vote NO for everything.
Show us that our shares will make a solid improvement, and then we may talk about it. But, definitely, not before.
One more thing that investors should be aware and be thinking about it before deciding in which way their vote should go. And that is, that although a remuneration resolution vote is only advisory and the Board does not have to follow what the vote will say, investors will only need to reach 25% of the total votes casted on the resolution for the Directors to be put on notice that if during the next AGM another 25% of the total votes casted are against the remuneration report, the Directors will have to immediately vacate their position and call for a total New Board to be re-elected.
That,IMO, would scare the hell out of them. Especially when it will be recorded against their future references.
Two strikes and you are out.!!
Good luck people. And please make your vote count.
Regards.
APG Price at posting:
4.3¢ Sentiment: None Disclosure: Held
