snouts in the trougfh ??, page-7

Have a good think about this.
- The loans aren't subsidised by the shareholders and are cash neutral and bottom line neutral. The funds are loaned to the participants who pay it straight back to the company for the shares.
- If this form of remuneration keeps directors salaries lower then the funds saved can be used in the field.
- If the Employee Share Plan is not approved then I would imaging the directors would proceed down another path, higher wages etc, to get their piece of the pie, or leave.

My only disappointment with the plan is I believe the loan should have an interest component of say 5%. This would at least give the company some income, although small, from the deal and be a little fairer.

I would also add that it appears obvious the directors want their piece of the pie soon which may indicate their confidence in Segues projects.

Although an overly generous plan I will vote for all resolutions.
To expand on what some one else mentioned there are 4 substantial shareholders, totalling abut 65% of shares held, and they would have been consulted before this plan was put together so how you vote won't matter.