Before flying off the handle people need to remember that...

Before flying off the handle people need to remember that although these vest automatically without a performance hurdle they are still a performance incentive. The higher the share price the more these are worth to the Directors - it is a good thing to align our interests as shareholders with the interests of the Directors.

Secondly, as pointed out in an earlier post by Frogster -

Apart from DR they can't put performance hurdles in...

Frogster's post from another thread (apologies Frogster I am not sure how to quote properly on this forum):

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I said earlier in this thread that I was trying to clarify a few things about these performance rights. I dropped DR an email with some questions, and he called me back this morning. Interestingly, and in hindsight quite sensibly, he pointed out that under ASX rules, you CANNOT remunerate non executive directors (which is what Mr Ismail and Mr Brown) with incentivised pay. You have to pay them a fixed rate.

This was news to me, and on reflection quite sensible, and is confirmed by the documents I found at the end of the following links:

http://www.godfreyremuneration.com/documents/130211_RI46_Share_Ownership_for_Non-executive_Directors.pdf

http://www.godfreyremuneration.com/documents/130408RI48AreASXListedCompaniesBreachingtheLaw.pdf

So this explains why there are no performance hurdles attached to their proposed rights. DR also pointed out that this grant is NOT expected to be an annual award, but rather a periodic one.

Personally, I'd rather see their fees paid in part in shares rather than 100% cash, so I'm comfortable with this.

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