Not exactly new news these performance rights and there are more sitting in the bottom drawer waiting for their turn too.
We collectively voted for them at the AGM as we did to give carte blanche to the Directors to issue up to 15% of the Company's capital without need for shareholder approval.
When you do both of those things do you think they will NOT get used?
I, and others voted against it but it is impossible to hold back this type of self reward with the share base stacked against you so you can only either roll with it or leave unfortunately.
I am personally strongly opposed to the performance shares in their current form. They should only be for SP improvement [shareholder gains] and not for doing what they are already paid far too handsomely to do anyway.
Hopefully we will see the rewards we [not the Directors and CEO, etc.] rightfully deserve soon.
NWT Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held