Management Salary

$6m market cap company paying $600000 plus business class flights for Leon and the family each year. This truly is a lifestyle co run behind the guise of a regurgitated graphite project where the flake size seems to change depending on what day of the week it is.

Please correct me if I’m wrong;

350k p/a to Booth
250k p/a to Leon plus flights for the family to South Africa.

Shareholders should be fed up with this.

This will need another cap raise just to pay these two.

From the annual report ….
Remuneration of the Executive Chairman, Leon Pretorius, is by way of an executive employment contractand he is remunerated at a rate of $240,000 per annum exclusive of superannuation. The notice period required under the contract, by either the employee or the Company, is twelve months. The contract states that although the Executive Chairman will reside on the east coast of Australia, he may from time to time choose to reside in South Africa and that up to three return business class airfares to South Africa will be reimbursed to him by the Company for himself and similarly for no more than one family member, i.e. a total of 6 return airfares during any one 12-month period. This may be varied by the Board if additional overseas travel for the Company’s business is required and may be included in the planned trips to South Africa. These airfares have no monetary value if not utilised. Fees paid to him included in the Remuneration Report within the Directors’ Report.