I'm not a very experienced or sophisticated investor but it...

I'm not a very experienced or sophisticated investor but it seems to me that the exercise price of 22cents each for 4 million options being granted to Mr Gary Lethridge is far too low.

I paid a lot more than 22c for my TLM shares and would love some 22c options exercisable before August 2011!

Surely we would all expect the share price to be beyond the 22c sometime soon and several times that level by the option expiry date of 31/8/2011.

Shouldn't the exercise price to be set at a realistic but challenging level as an incentive/reward for the share price passing that target?

In my opinion, this is just easy money for our MD and there is little incentive for him to achieve much at all. When the share price gets back to its' December 2007 high of $1.30, that's an easy $4.3 million in the bank for him.

Perhaps 80c per share would be a more reasonable exercise price.

I'm thinking of voting against this resolution.

Any other opinions on this?