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jimk3758

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09/10/16

20:19

Post #: 19731419
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Originally posted by Dr.Who ↑

Prosperman, it seems there is a misunderstanding. Mr Grech doesn't 'want' anything. The remuneration committee in consultation with an expert remuneration consultant consider a package that aligns the interests of all stakeholders including shareholders. Mr Grech is not permitted to participate in that process. The recommended package is geared more towards incentive on STI where achieving EBITDAW is the primary component and a LTI where compounded total shareholder returns at least equal to top 50% of TSR of ASX300 over 3 years needs to be achieved before receiving any equity rights. If achieve top quartile total shareholder returns compounded three years then a full 100% of those rights will vest.

Those contingent incentives account for close to 50% of the package and clearly align with shareholder interests (which Mr Grech is one if the largest hence doubly incentivised to achieve). I think most investors will like that he needs to achieve shareholder returns to qualify for half of a package that still is in the lower half of packages compared with ASX counterparts.

Hope that helps.

Cheers

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"Mr Grech doesn't 'want' anything". Come on Doc I almost choked laughing. If AG didn't want it no way it would have been listed for vote. Ballot says AG can't vote on his own incentives but if it's voted down ballot also says BOD doesn't need to take any notice of shareholder votes.

Reminds me of Chairman Skippen rejecting AG's 'offer' to resign and then Skippen took a 50% pay raise instead of resigning himself.

SGH Price at posting: 40.0¢ Sentiment: Hold Disclosure: Held
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Chess board laid, page-272

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