mention in the fin review 24/2/11, page-3

Sounds like someone has had enough of these turkeys. Can't say I'd blame them.


High pay angers India Resources register
PUBLISHED : 24 Feb 2011 | The Australian Financial Review | Sarah Thompson and Paul Garvey

It appears the pay packages meted out by mining services minnow India Resources has left some noses out of joint on the company?s share register.
There is talk of shareholders requistioning a meeting to vote out some of the company's directors, although whether the angry shareholders have the numbers to pull off such a coup remains to be seen.
India Resources, which has a market capitalisation of $9.1 million, paid $1.7 million in cash and shares to it's directors and senior executives last year, equivalent of almost 19 per cent of its capitalisation. Managing director Arvind Mishra took home the bulk of that, netting just under $840,000 in cash and shares.
The skinny cash reserves India Resources was sitting on at the end of December have improved somewhat after the group secured a $5.5 million equity funding facility.
The group will place $620,000 of stock with Chimaera Equity Market Neutral Fund.
It will be able to drawdown the remaining funds over the following two years.