“The sp has nothing to do with company performance”
Actually the Share Price is the true representation of company performance over the medium/long term.
From today’s Corporate Governance Statement:
“The board’s primary role is the protection and enhancement of long-term shareholder value”
And the Company acknowledges that the board & management are directly responsible for the Share Price via the LTIP (Long Term Incentive Plan), and it’s direct connection to the TSR (Total Shareholder Return), which is defined as “growth in share price plus dividends reinvested”. Suggest you check out pp. 21/22 of the 2017 Annual Report.
“Tell us where you think they have stuffed up?”
It’s not about “they”, or about the good actions taken by the CTP management team. It’s about one individual who signed a Scheme Deed about 13 months ago trying to sell us out at the bottom of the cycle. That one individual was also the person at the very top of the Company - the Chairman, and the one person where the buck stops on corporate performance.
Ann: Board Update, page-7
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