This is as rude as it can get:
"Cook, a former Ansell executive, joined Biota after the litigation had already been launched under the previous chief executive, Peter Molloy"
Look who is being blamed for the loss!
Peter Molloy was correct in launching the litigation as it brought the $100 million settlement offer plus legal costs.
And they rewarded Peter Cook for refusing the $100 million offer. Cook's remuneration jumped 38 per cent to $833,000 last year. And that doesn't include the 456,300 options that the board approved on August 22, 2008.
This is on top of the 375,685 ordinary shares issued on 16 July 2008 to the company executives for zero consideration days before Peter Cook settled the $700 million law suit for $20 million.
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- not enough
not enough, page-3
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