This is a salary fit for King, even an Australian prime minister.
Isn't it time MEL shareholders took this up with Henderson regarding his extortionate salary for what has turned out to be a very shoddy business plan?
Reduced equity
The $3.8 million loss last year has reduced Metgasco's total equity to just $8 million, mostly cash.
The company has now cost investors $116 million since inception.
The report also lists managing director Peter Henderson's salary package as $612,000, of which includes a cash salary of $425,000 plus benefits, super and shares worth $90,000.
Mr Henderson has taken an $80,000 cut in his package since last year, when it was worth $705,000.
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