Thanks V, these Performance Rights appears to be completely separate, and in addition to, both salary and any shares in lieu of salary. The Performance Rights were originally passed at a meeting back in 2010 and reaffirmed at the AGM in Nov 2016.
In the explanatory notes to the Nov 2016 meeting the board of COI can award these performance rights to employees "subject to the determination of the board that the relevant performance conditions attaining to the Performance Rights have been met". I can only find details of 2 employees who have received these Performance Rights in the past. They are the MD and another Director. Not sure who will receive the current award of 7.7m Performance Rights.
It appears that the board does not consider share price performance as a "relevant performance condition" in the award of the Performance Rights.
Still don't know if I am missing something...
AO36R
COI Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
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