changing vote, page-8

Buddy,

I am dumbfounded that shareholders believe that providing partly paid shares at a discount to the market with a 10 yr vesting period is an excellent incentive rather than issuing options like just about every other asx listed company.

Can you imagine the uproar from institutional investors if BHP, RIO or the 4 major banks turned around and announced that they will issue shares for a 10 year term at a DISCOUNT to the current shareprice.

It simply will not happen as the instos will demand performance targets.

It seems APG is a cult with members simply following their leader. Either that or we have the directors' family members on these threads attempting to justify the rort.

I first bought this stock back in 2000 and I think it was trading at 12c. Bankers Trust (when they existed) actually had a 50c valuation on the company back then. I remember MT explaining to me after 10 years of development, they had finally 'arrived'. They had just put together a deal with Ticor, and it was all systems go. We are now in 2011, and we have a 5c share price, plenty of dilution, and a board that doesn't buy stock on market (actually, they would be mad to given each year they will be allocated 10 yr term stock at a 5% discount to the market).