Vote NO to resolution 3

Looking further into the AGM notice, Resolution 3 is a massive slap in the face to share holders!!!

Basically the company is proposing to dish out a bonus to JF if the shareprice appreciates at a rate of 10% per annum above the healthcare index over the next 3 years.

"Half of the Resolution 3 Rights subject to Relative TSR
will vest if the Company’s return is equal to the Index’s
return. The non-executive Directors recognise that
Shareholders in biotechnology companies expect a
return in excess of the Index. To achieve the full Relative
TSR performance condition, Starpharma’s Relative TSR
must reach 10% per annum (or 30% over 3 years)
above the Index, which is considered a realistic but
stretching target."

Based off the 3 month avg SP leading up to June 22, the baseline SP is ~82cents.

Lets say that the biotech/healthcare index goes up by 10% per annum for the next 3 years.

That gives us a annual baseline of

Year 1 - $0.902
Year 2 - $0.992
Year 3 - $1.09

So for JF to get her bonuses the SP needs to be at the following targets by June of the next 3 years

Year 1 - $0.992
Year 2 - $1.09
Year 3 - $1.20

Are we happy with these targets? I know I am not!

Why would we award bonuses for gaining a SP in 3 YEARS TIME for a SP that is half of what it was nearly 2 years ago????