Funny how we have such an uproar over resolution 6 which is insignificant and yet Resolution 8 is ignored. Res 8 removes executive directors from having to have shareholder approval regards remuneration. this is the norm with ASX listing rules. Non-Executive directors only come under these shareholder approved caps. The Board then has control of Executive-directors remuneration.
So now they have control to vote themselves increases. not that simple but that is what it boils down to.So shall we all jump up and down now about Res 8. I would have thought this would have bothered those who were worried about Res 6 much more.
I understand the no vote to res 6 was less about the money and more about sending a message of disapproval regards the dismal shareprice???
Shareprice does not always reflect the health of a company.
ANYWAY, thought i would give a few of the boys a chance to bang on about something else. ( res 8 )
resolution 8
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