So your position is poor Peter because he has to pay tax on 17.5m free shares? It could be worse mind you; if he actually bought on market the outlay would be greater.
What would I do differently?
Have Peter on a performance related package. At the moment, nothing in Peter's package relates to actual performance. The shares are called "performance shares" but there is no hurdle rates/KPI's.
Would Peter perhaps act with more urgency if he was on say half the salary and his performance shares were related to KPI's such as:
1. Haggan IPO
2. Tiris DFS
3. Tiris financing
All these things should have been done by now. And yet, the SP is at 0.016 and more dilution has occurred to retail holders in particular along the way. Meanwhile, Peter is on $425k with 35m performance shares at nil consideration.
Are you suggesting, by highlighting a tax burden, Peter may flog some of his free shares? This is the usual excuse offered when a director sells. It would trash the SP but to a greater effect than missed deadlines?
Benchmark the remuneration of other ASX U plays and compare it to MC and resource size. I have done so.
Does a remuneration which is double peers on a relative basis (MC/resource size) represent good value? Discuss.
I cannot believe some holders here would defend a highly paid MD as the SP is at the lows and timelines slip. Imo, questionable.
AEE Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held
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