TZL 23.8% 2.6¢ tz limited

rights: the right to get shs for nothing, page-51

  1. 26 Posts.
    I refer to the AGM documents.
    1. Since the last board was replaced, no major new products have been developed or sold. What justification is there for the current Board's remuneration. All the products that they are promoting were developed 18 months ago and they still can not give us a sales forecast.
    2. We are being asked to grant MB 1,600,000 free rights/shares, KT 1,200,000 free rights/shares and WdV 200,000 free rights/shares. I refer to Pages 40 and 44 in the Notice of AGM. MB and KT will accept Rights rather than cash etc. What period does this apply to? Is it until 31/12/2011? The Performance Hurdle for the second tranche is just a joke. The 2nd 3rd and 4th conditions are not measurable and are also not meaningful. MB actually states in his dear shareholder rant that a large portion of share rights and options will be dependent on meaningful and measureable performance hurdles. If you check the Options Grants, there are no performance hurdles at all. I would say that a M & M performance hurdle would be listing on the NASDAQ.
    3. What remuneration is WdV on? The Report is silent.
    3. Page 11 of the Annual Report 2009 states that the Remuneration Report is set out under 4 Headings. I could find no statement of 4. What is Share-based compensation?
 
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