motions to be included in next agm

For those who read the annual report but did not pick up some of the items of concern.

Please note that whilst TEE management urges the need to control costs and to reduce the overheads, they themselves are giving themselves big pay increases and incredible amounts of options shares, more on this below.

When a company is not performing, shareholders have an obligation to put pressure on the management for them to control costs. Those controls and initiatives should also include management salaries.
They should demonstrate that they are doing the right thing and for example if they are increasing their salaries, they should do that on performance basis, one good example would be to allocate options shares a s part of their package so they can keep that extra cash for the operations; and when allocating those options shares they should adhere some key performance indicators.

Ok, I do not see any of the above when it comes to control costs as they have always talked and preached. On the contrary they really clear tell us how much additional salaries they get .... have a look:

Few notes for you to digest if you have not read the annual report in detail ( I just picked up on Michael Capocchi as an example, but you can examine others and the whole report as well....

1- Did anybody noticed that Michael Capocchi salary jumped from $322,962 in 2006 to $485,866 in 2007?
2- Did anybody noticed that Beam is the only part of TEE that performing up to now and the year profit for that segment amounted to $1,656,270? looking at the $1,656,270 figure in isolation you would agree with me that the result is good, but then when you see that Beam managing director’s salary is 30% of the company’s profit then you start thinking and questioning whether that was a good result or not... I think that is a very poor result for that big salary...
3- Did anybody noticed in the Annual report is also published that someone (I wonder who) gave Michael Capocchi 30M options shares for the above performance:
20.09.07 30.09.12 1 0,000,000 $0.02
20.09.07 30.09.12 5 ,000,000 $0.02
20.09.07 30.09.12 5 ,000,000 $0.03

I think we need to table some of the above issues in the coming annual meeting... in particular:
a- the issue of options shares should be at something close to 4 cents to make Michael and his staff perform for that right.
b- If possible not only Michael’s salary, but all the high paid personnel should be re-examined and make a big part of their salary to be based on performance. Otherwise I see no way to get TEE be in the green with this big salaries without any performance measures attached to.

I leave this ideas for you to think over Christmas and New Year, so early in Jan we can send a proposal to TEE management to have some sort of motions included in the AGM