Reminiscing from Dec. 2011“IT WAS a day of protests at...

Reminiscing from Dec. 2011

“IT WAS a day of protests at rare-earths miner Lynas Corporation, as it contended with protesters' concerns about the environmental effect of Lynas' nearly completed processing plant in Malaysia, and its own retail shareholders who opposed an executive pay proposal.

At the annual meeting, Lynas chief executive Nick Curtis and independent lead director Liam Forde dealt with questions on ''excessive'' options entitlements, and whether incentive hurdles set for Mr Curtis were rigorous.

With the Lynas Shareholders Association and the Australian Shareholders Association voting against the remuneration report, and a resolution authorising issue of 4 million options to Mr Curtis, a show of hands prompted a poll, in which the company comfortably avoided a first strike.”

http://www.brisbanetimes.com.au/business/lynas-faces-protests-20111130-1o70j.html#ixzz1fFI7mf6m

Unfortunately for shareholders, management never has had a problem rewarding themselves at shareholder expense.