Ok, I might support getting that proposal into voting. While I personally have no problem with remuneration I see cutting remuneration would save money in the short term.
What would the proposal be exactly? Would it be cutting the BOD remuneration limit of $800,000? This limit is for non-executive directors only.
Would you support cutting that level to $300,000 because of the bad financial performance Troy recently had?
How would you make sure cutting non-executive director remuneration would not lead to directors demanding a limit of let's say $1,500,000 once financial conditions get better due to OC production, i.e. cashflow increasing five-fold?
How would the proposal to lower the limit to $300,000 save capital when actual non-director compensation was $284,300 vs the limit of $800000?
How could we avoid a situation where touching the limit now would in effect make no difference whatsoever but create a condition where non-executive directors will demand a way higher limit due to good financial performance down the road?
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