MIO 10.0% 9.0¢ macarthur minerals limited

Bonus shares for what??

  1. 45 Posts.
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    Approx 1.3 million dollar bonus shares for what?? Stock has been a dog for ages, people that took the placement at .50 a few months again are cooked and selling. They raise money just to keep the the lights on. The chairman lives on the Gold Coast, ex real estate guy, runs off the back of being at Macquarie yet i know a few people that say he was pretty low level employee there and yet takes 300k salary a year plus bonus shares, so at current prices approx 600k a year, what value do we get from that, can someone explain, that seems crazy and for what. What am i missing here? The whole board is the same old tired bunch that for years peddles the same stuff. The bonus shares are free? Not linked to any KPI’s?? That is old school 80’s stuff and just no accountability on this. It is offensive to long suffering shareholders that bought into this iron ore story and the board continues to produce minimal to nothing. Best they can do is roll out another sub committee a month ago. Continually get the Min Res buyout rumors? Any idea if that is true, been around for years? So frustrating when you see these bonus shares on top of the chair, CEO and MD taking about 300k cash out each per year . Just bloody rich for a company with no rev, just burn.

    Am i the only upset one here!
 
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