The DNL directors/share holdings ratio is actually a very good...

The DNL directors/share holdings ratio is actually a very good thing. A concise check of October's (2004) annual report shows DNL has an innovative approach to directors of DNL, and their share holdings. The company works on a share based compensation plan by way of future options, and is performance based for all directors. Conversely, and most importantly, directors are on set time employment contracts with the company, and the share compensation plan is reversible if service conditions are not met. The
annual report showed that the Chairman, Mr Tom Eadie held 125,000 shares at the time (Oct. 04), and Managing Director, Mr Jeremy Read held 50,000 shares.
Mr Read is on a set wage at $163,000 per year and is an employee of the company, just like any other staff. He was appointed on 30/05/2004 and has recently signed a new employment contract with the company.
DNL wins by retaining his 100% commitment, and his 16 years of domestic and international minerals exploration experience as Manager of BHP Minerals Australian Exploration Team. In fact, his extensive experience in Nickel played a pivotal and critical role in the previous Kobanga North Nickel deposit discovery in Tanzania, which will certainly be beneficial to the Company as the DNL story unfolds in Botswana.
The top 20 shareholders in the company were all corporate, institutional, and private investors, and this represented almost 44% of the total shareholding. Also of interest was that 14,125,000 shares were in escrow, and these would be released from escrow, as and when due, over the period 03-10-2004 to 17-12-2005. Options are tabled to expire in January, 2006 @ .20c, and February 01st, 2007 @ .30c (750,000) and/or @.35c (750,000). Notice the relatively small numbers in everything DNL has to offer - this reinforces shareholder value and growth in the overall 'big picture'. It also confirms, as I have advised previously, that there are not a lot of 'tradeable' fully paid ordinary shares out there in the market, and this ensures the value is tightly held. In fact, it was a surprise to me, that I would now be firmly entrenched in the Top 20 shareholders bracket, based on the 2004 (Oct) annual report figures. I see that as a good thing, because as I suspect with all of the Top 20 shareholders, my holdings aren't going anywhere but the bank when the ($) dollar signs start flashing.
In short, DNL will give 'nothing for nothing' to its directors, so we have the case whereby the directors have to earn their stripes to share in the companies future triumphs (over the long haul). Isn't it totally reassuring to know that they are therefore on an even playing field with the investors in DNL.