review of annual report

The annual reports show the MD's salary package went from $885,558 last year to $1,286,461 this year. The total of all director's remuneration increased rom $1,293,494 last year to $1,737,756 this year.

ALL THIS WITH THE SHARE PRICE GOING DOWN OVER THE YEAR.

Report also shows a related party transaction of a loan from Australian Capital Finance P/L, a company asssoc. with director's B O'Donnell and K Parker. The unsecured loan facility of $10mio @ 10% interest appears to have been put in place during the 2004/2005 year as it does not appear in the 2004 accounts.
The fees charged to put the facility in place were a WHOPPING $450.000.
Seems like the facility was only drawn to $3.85mio, with interest of $284.931 being incurred during the year.

THE INTEREST RATE IS BAD ENOUGH, BUT TO PAY 4.5% TO PUT THE FACILITY IN PLACE IS USUARY.

One thing for sure about NLX is that the crowd at top sure know how to look after themselves.