these Share Appreciation Rights are being granted with respect to something the company has no control over ? I understand these are being issued if the company outperforms the ASX300 TSR ??
I didn't think these guys are running a hedge fund? Why dont they pick an operational or financial target ...
Instead they picked a target which is not even related to the company's efforts.
Even if the share price drops 30% and the ASX300 drops 35% they still get 5% of the share capital of the company???
THIS IS OUTRAGEOUS.
I am all for incentivising management, but the incentives should be linked to some action which benefits the stakeholders company / employees / shareholders / some stakeholders...
This is basically a toin coss...
I would be heavily invested in this company if i could trust management... so please dont take my "not held" as not seeing value... i am just aware of the rapacious management
Ann: Appendix 3B - Share Appreciation Rights, page-6
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