Lake AGM - 26 Nov 2019, page-30

pos1963. Can we wait for the PFS and we can all have an open discussion? Surely, shouldn't be too far off now. Lindsay would be wanting his Incentive Bonus for Christmas.

But, whiole on that subject, when discussing the remuneration of the BOD, if people are looking at the numbers on Page 16 of the Notice of the Notice of Extraodinary Meeting of 15 August 2019, yes, they certainly look extraordinary.
But, you then have to read what has been asterisked on Page 16
* Including the accrued value of the performance rights proposed to be granted under Resolutions 7, 8 and 9
** Including the accrued value of the performance rights proposed to be granted under Resolutions 7, 8 and 9, and also the options proposed to be issued under Resolutions 10, 11 and 12 and the explanation of valuations on Page 17.
"Current stock price as taken as the market closing price at the end of 27 June, 7.4 cents on the valuation date. This is used as a proxy for the actual market price on the future date of issue."

As we all know, sadly, the current stock price today is 3 cents. So all of those "Proposed 2019 Financial Year Remuneration** are way out of whack to reality and those options and "incentives" are currently down by 65%. AND they haven't earned them yet and haven't exercised the options some of which have an exercise price of 28 cents. So, the BOD are not such a drain on the current day to day running costs of the company. And all were approved at the relevant EGMs.

I for one, hope that they earn every one of those Rights and exercised Options, as I'm certain that the SP won't be 3 cents if they do!!!