Ann: Chairmans Letter and Notice of Meeting, page-48

This is all a bit late to comment on and EGM set for 6 June but I had to just vent my frustration.

The company has not performed. Has lost tens of millions and now we need to provide discounted options to Directors.....

Directors should be paid/rewarded when they actually get profitable.
The timing of granting options when the company just announced another $4m cash outflow in its results is plain ludicrous . It takes some Kahunas to ask for effectively a bonus when the management have just lost even more of shareholders money. The sales announced are embarrassingly low and nothing to even crow about yet. Green shoots. That's all. It was baron before that so everything sounds good.

Where bonuses/share options are handed out with no direct link to performance stinks.
This issue of saying they saved the business does not provide anything to shareholders.
I don't accept you should get paid for stopping the company going into liquidation. All that's happened is some other investors have poured even more shareholders funds into this business.Creditors have been stalled in their interests.

If you want to get the respect of shareholders I would postpone the options for 12 months and should the company turn around as anticipated with good sales and profit then by all means give the management and Directors options. I know I don't have much say but that's what I would recommend.

To reward mediocrity sends the wrong message to shareholders and prospective investors.
I am a NO to majority of resolutions