The performance shares ( 5.5 million of them ) approved at the 2013 AGM expires at the end of this year. The vesting conditions included the average price over a 10 day period to be minimum 18.7 cents.
The resolution you are asked to vote on is to extend the expiry date to the end of June 2016.
I don't think that that is much of a milestone to hope for, and I don't know if achieving that SP
In 20 months from now deserves 5.5 million performance shares to be given to NIck and Gavin.
additionally the 10 day period has been reduced to 5 days?????
I've been in touch with our company and lodged my vote.
If the 18.7 cent SP is achieved over a 10 day period before the end of this year I have no problem with the performance shares being handed over but I'm not so sure about the same
SP over 5 days during the extended period being achieved deserves the freebies.
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