Ann: Changes to Managing Director's Remuneration, page-3

WEC is in a situation that looks as bad as it gets. Only way of getting cash in is a placing, sale of assets and something from the Arbitration in Singapore versus Bayan. The share price at 3.1c a share shows how things have gone completely wrong at Mountainside in the States; no sales agreement in South Africa; and completely abandoned project in Indonesia with former partner Bayan. The share price is down from $4.20 to 3.1c.
The company's directors have a very tough challenge ahead and I'm unsure they can pull this one round unless quarterly costs are pushed down very dramatically. Maybe the Board of Directors should take no salary or benefits for one year and the present board sharply reduced in number.
The glory days of 2009 for Felix Resources when Brian Flannery was Managing Director are completely reversed now.
The market cap of just $10.17 million at 3.1c is very low indeed and might just be failing to take into account the possibility of success in Singapore: A fire sale of assets could then be avoided.
If the non-independent directors bought shares in a placing above the present stock price that could inspire confidence.