Global pivot towards cleaner, greener steel thrusts magnetite iron ore into spotlight, page-37

Regarding performance rights, these were my opinions when I saw the announcement.

I think class 1 should be scrapped.

All amounts should be halved.

In class 4 it should be binding offtakes instead and the “part” of production should be defined as at least say 40-50% of production, something more objective and measurable and substantial.

Latimore and Dinan’s roles should be more clearly communicated to us so we can understand better why they should be entitled to such high reward for certain classes. Currently my understanding is Dinan is secretary and has a financial background (so may contribute to financial model, BFS etc) and Latimore has marketing (and Ferrari) expertise (so seems suited to the classes involving sale of product and securing supply).
They both sit on several company boards, Dinan is secretary for several other listed entities..how much can they actually contribute to MGU day to day to achieving these milestones and justifying such high rewards? They could probably be removed from certain classes and just be rewarded for their specific contributions in their areas of expertise.

Even with the above adjustments they’d all likely be made millionaires multiple times over if the company eventually gets into production, on top of their salaries. That seems more than sufficient, especially when they’ll inevitably do most of the work via zoom from the comfort of their homes (Dano excluded obviously, he’s relocated to the US).