RAMcap Ltd letter, page-39

If they were genuinely concerned they would show the initiative through company policy & it doesn't really matter about the immediate saving of a couple a Bob, nor is it a concern when shareholders aren't footing the bill. They are atleast 5 years into a problem that should have been prudented in there from the get go.
Comments regarding the non exec cap @ 800,000 & the accompanying statement that it hasn't been increased by the remuneration committee sine 2013(which likely consists of Johnny the boy /Howard & maybe one other yes man) is just lip service.
In reality it should state that in line with current performance or available internal financial resource the figure or allowance for the current year is $xxx. Same with the base salaries.

If you read between the lines it actually states - for the year 2017/18 etc existing & new shareholders will be paying the Directors indirectly through capital contributions to the tune of $xxx regardless of performance & with no guaranteed roi as there is no governing policy regulating internal finance measures or finance control & sustainability management. The BOD directs external funding availability measures to compensate for any shortfalls to the extent of complete exhaustion of existing shareholder capacities in line with our way we conduct our business model.
etc etc

They can take the $$ but it's where it's coming from is the issue. Turn the tables back abit is within fairness. Calibre? That would read alot better "calibrated" to suit professional business practice from the viewpoint of sustainability.
It's not far off dead in the water and maybe they know that anyway and have the succession plan draphted.

Surely such prudence & professionalism has succession clause's implemented - formal or informal?

Hoping RAM nudges em Abit in the right direction. It really would serve the purpose alot better if they showed the initiative.

Gold