Ann: CAP Board and Management Changes September 2015, page-8

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FiendishRedbeard

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15/10/15

13:38

Post #: 16183147
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Originally posted by BusterEMC ↑

Yep. 12 months ago the company had some cash, which was an asset that could have been used for something productive. They paid Chris Powell `175k over the last 12 months to do a job you can get done for less that 50k these days. Chris is a tremendous fella, and good at his job, but really, this is symptomatic of the problem.

It is a nonsense that the Chairman gets paid a premium to other directors. It is a nonsense that the size of the board needs to be more than 3. It is a nonsense in this environment that Quentin is paid 200k plus. Im frankly perplexed at that these guys do. The company has one project that is having a paltry amount of money spent on it. If anyone has a single example of what Neil Williams has done in the last 12 months (and to be honest 24 and 36 months) to add value to shareholders then i am all ears.

I asked the company what exactly business development was and ive had no response from Chris originally and later Quentin. It is all thrown into the one line item on the income statement so i am none the wiser today. I also asked what Bob Hair was to be paid in this new job to which also ive had no response. Some might suggest that they are not aware they are answerable to shareholders.

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Costs a lot these days to flog a dead horse.....

CAP Price at posting: 3.0¢ Sentiment: Sell Disclosure: Not Held
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