The release below came out today. So William Scott is being rewarded with 6 months salary for bringing the SP down from plus a dollar to 1.5 cents, suspending the Company for 6 months and treating shareholders with disdain. Who knows what other assets of the Company he will end up with. I am less than happy with the Board of Comquest for approving such a high payout but I suppose they will argue it was part of his contract with the Company.
William Scott has informed the Board of Commquest of his intention to resign as Chief Executive Officer and Executive Director of Commquest with effect from 30 September 2009. Mr. Scott will be paid a termination payment equal to 6 months of the salary component of his current remuneration and will be available as a consultant for a period of 6 months after the date of his resignation when required by the Company. For further information, please contact: Roger Sharp Jonathon Meredith-Smith Executive Chairman Chief Financial Officer Commquest Ltd Commquest Ltd T: +61 (0)3 9016 4099 T: +61 (0)3 9016 4099
CQU Price at posting:
1.5¢ Sentiment: Sell Disclosure: Not Held
