I think everyone who owns shares should go and read the remuneration section of the last accounts. In my mind there are a couple of interesting things:-
1. Grant King has plenty of skin in the game with one million shares and lots of options that I guess are probably worthless (good). He is suffering with the rest of us (to a point).
2. Shareholders still need to approve King and Mose Long term incentives (good). Should we make them suffer more?
3. Shareholders do not get to approve the LTI's of the rest of key management (bad). They get their regardless.
Somehow the board and Key Managers have totally misread the whole situation with respect to the oil price, the need to raise capital and the management of key shareholders (who must have dragged Origin to CR kicking and screaming). Blaming it all on the oil price is disingenuous.
Hopefully, their remuneration is affected as much as shareholders have been. Unfortunately, I doubt it.
ORG Price at posting:
$6.10 Sentiment: Hold Disclosure: Held
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