not enough, page-6

Will Peter Cook do for Biota shareholders what he did for Orbital Engine shareholders? Did Peter Cook make OEC shareholders rich?

Peter Cook became CEO of OEC in late Dec 2001/Jan 2002, the shares were trading at about $0.70 When the great Peter Cook left in September 2005, OEC shares were trading around $0.10 Is that not a wonderful testimony and lasting legacy of wealth creation?

When Peter Cook joined BTA as the CEO in late 2005, BTA shares were trading around $1.60 Another success story of wealth creation with BTA trading at $0.72 today. Hooray!! How should we reward such a successful CEO? Yes, you guess right – Peter Cook was rewarded with a 38% increase in remuneration. And to add cream to the cake, Peter Cook was rewarded with 456,300 share options. What a wonderful story of wealth creation.

Peter Molloy the former CEO had started the litigation against Biota before Peter Cook joined Biota. Had it not been for the legal cost, Peter Cook would have reported a bumper profit for Biota for the financial year that just ended and presumedly deserve a larger pay increase and a greater number of share options. Did I hear anyone mention a $100 million settlement offer plus legal costs? Smart Peter settled for $20 million, isn’t he a genius in wealth creation?