I have had a look through the latest annual report from MIN and looked at the remuneration policy that applies to the company that is a substantial holder in PLS. Page 17 clearly sets out the philosophical underpinning principles of the reward plan and the table at the bottom of page 17 clearly indicates that MIN does offer shares in the company for the achievement of LTIs. Any suggestion that MIN does not use performance shares is unfounded as it is clearly reported to the market as using this approach as recently as the Annual Report dated 30 June 2016.
The remuneration framework is based on PPR processes and agreed between the company and the participant. This is likely to be where the increase in shares on offer has come from since 2012, with some also possibly coming from any DRP that the company may have offered - I have not looked to see if they offer a DRP between 2012 and now.
Given that MIN offer shares as a reward for achieving performance goals, IMO it is likely that the substantial holder's vote will be in support of Resolution 3. It is also likely that MIN have an idea of what the performance plan involves as this document is freely available for perusal at one's leisure if requested from the Company.
The link to the report is http://www.mineralresources.com.au/images/files/annual-reports/annual-report-2016.pdf
All IMO
I have had a look through the latest annual report from MIN and...
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