yes i agree that the rather 'generous' rewarding of directors by themselves with mountains of options appears to be common place now irrespective of what value add they provide in return , that trend needs to be reworked ....... as in fact what happens then is there are multiple board rotations until a competent board is finally established and then all past board members benefit from it . its just laziness IMO and if a competent board cant be established in a timely manner your project , worthwhile or not often tanks. some people dont realise that all projects have a window of opportunity for success and bad management will often miss it.
the interesting point about Golds post is that it only notes one new director Whidden with 1m shares , which is coincidentally what Batten and the other muppet received on appointment of the original board , and nowhere near what was suggested in the announcement of their appointment back in July which was 5 times that plus mountains of low ex options. should this remuneration have been reviewed and scaled down , it would represent a far more reasonable resolution to present at the next AGM , as i wouldn't fancy the chances of the initial one getting through. the details may be in the wording 'or nominee' though and the remaining shares and options might have all been laundered out with the 1m being a not so clever attempt to stealth that gratuitous appointment fee.
CRB Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
