These are the references to the two announcements:1. (proposal...

These are the references to the two announcements:

1. (proposal put to the meeting)

30-03-2006 01:24 PM AAE Notice of General Meeting and Explanatory Statement

2. (Announcement of results of meeting)

28-04-2006 08:30 AM AAE Results of Meeting/Presentation

The 28/4/06 announcement does not contain the full details of the explanatory statement so look at the 30/3/06 announcement for the details which are too large to copy entirely into this reply.

Part copy:
(b) The Nature of the Financial Benefit -
The proposed financial benefit to be given is the grant of up to 3,000,000 Options for
no cash consideration to Mr Anderton or his nominee. The financial benefit will
constitute part of Mr Anderton's remuneration package as an executive Director.

(Part copy from table in the explanatory statement):

The Options to be granted to Mr Anderton or his nominee and details of the vesting
criteria, exercise price and expiry date are set out in the table below:

Tranche - 2nd
Number of Options - 1,000,000
Vesting Criteria -
*Continue as an executive
director or, alternatively, in
an employment or consulting
capacity representing 50% of
Peter Anderton's time in a
full-time capacity until 31
March 2008 and the closing
Share price on ASX exceeds
65 cents on any 10 trading
days prior to 31 March 2008
Exercise Price - $1 in total
for all the
1,000,000
Options
Expiry Date - 5 years
from date
of issue

The details of options available to the other directors are also included in the explanatory statement. The asterisk next to the vesting criteria refers to a set of provisos which again is too large to include here.

So far as I am concerned I don't begrudge the directors their employment benefits which are common in many companies but I am hoping that they will not drop the ball at this stage when we would all like to see a try added to the scoreboard.