This concerns me also. I have previously voiced my unhappiness about your first point above and other similar issues.
I am a longer term holder who has done fairly well due to the latest rises but am becoming worried about my perceived board greed which has damaged some other decent companies ive been involved with.
I have been trying to review what exactly they are proposing to award themselves at the agm. The loan share plan talks about market value and the fair value. Im finding it hard to decipher what it actually means. The cynic in me thinks they have purposely made it confusing by referring to other documents etc in the attempted explanation.
If they are awarded 10million shares in a non recourse loan. I understand the non recourse part and am ok with that as a standalone. However, are they also getting them at a discount? I have a big problem with this! Cynic in me again would suggest they are holding price sensitive news until after the agm to get in cheaper.
Can someone put my mind at ease and explain to me exactly what they propose to award themselves at the agm re:
1. What short term incentives they get
2. What performance based incentives they get
3. What long term incentives they get.
4. What additional incentives they get. I.e loan share plan
I have reviewed the information they have provided and it is not clear. Partially because i am on the phone and partially because as the website is down i have to trawl through hot copper to find the relevant reports rather than having them easily accessible.
Perhaps this agm meeting agenda needs its own thread but im sure it would get ripped apart by rampers who cant take any company criticism.
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