director performance rights - sham

Resolutions 4 to 6 at upcoming general meeting

Since when is it OK to issue "performance rights" [ in this case 8,000,000 shares to individual directors ] when in fact they do not have to perform and increase shareholder value to aquire these shares

If you fellows with your snoutes in the trough think the meaning of "performance" is sitting there collecting extra over and above your now generous remuneration David R. whilst the shareprice and shareholder value has been allowed to deteriorate very marketly over recent time then you must all be dellusional

I note in the notice of general meeting papers ,It says this " package is to provide a performance linked incentive component.....to each of them to motivate and reward their performance ..."

I Don't believe these proposed "Performance Rights" are tied to any reward for performance and this claim by the Company IMO is highly deceptive and misleading and needs to be brought to the notice of the reg. authorities and these resolutions should be withdrawn immediately

It is up to shareholders to vote down this type of self fulfilling and back door remuneration on the pretext of performance which has not been happening in this company for some years

I'm sure the shareholders would agree any "performance Rights" need to be pegged to something like increased sustained Shareprice and shareholder value

Try several tranches of freebees at say sustained 5cent , 10cent and 20cent....now that should be what deterimes "incentive and reward for director performance

And there is more , we are also told "if these so called
"Director Perforance Rights are not granted, the company could remunerate the Directors for additional amounts of cash....." Are you people for real!!! Do you think you can be defiant and suck the sause bottle as you wish

My attitude to this is based entirely on reward for performance in increasing shareholder value and if used properly directors really focused on taking a company foreword can have far more to gain in comparision to their fixed salaries.....that is the meaning of incentive and reward for performance

I'll be voting down these sham resolutions and I would suggest any director worth his salt would be embarrased to think he could insult shareholders with such deceptive and "noises in trough" antics

Would suggest if directors are more interested in milking public companys than providing proper committments to progress shareholder value then you are not wanted.

If sincere and you really deserve your position as director then I am more than happy to give you heaps of incentive as milestones for you to achieve and be rewarded handsomely