directors to take 10% control of company

At the Annual General Meeting the directors are proposing to give themselves 10% of the company via the issue of options.

The only reason given is the need to retain high caliber board members.

I cannot see anything high calibre about the success of GWR at the moment. I know the excercise price (55c) is above the current share price (45c), but the share price is this low because the directors have been running this company into the ground deliberatley.

I urge all shareholders to vote no on resolutions 6-12 that issue the options to directors.