Lets face it he was punted just sat around taking the money...

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Bocas Boy

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13/01/19

15:09

Post #: 37100805
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Originally posted by Maysgr ↑

Former holder here (and some time ago now), but still have stock on my watchlist.

Saw today's announcement so had a bit of a look.

Alain was employed with CFO from 10/7/17 (that was the day it was announced to the ASX anyway).
Announcement stated his salary would be A$100k, would be subject to periodical review based on tenure, and he would be eligible to receive shares under performance milestones (with some of those being related to a share price above $1).

30/10/17 announcement advises his salary was now USD$150k.

Gone up $50k in dollar terms, as well as the benefit of getting it in US$ as opposed to AUD in the space of less than 4 months.

Those 500k shares he got were only voted on at the AGM about 40 days ago.

I wonder when the Board worked out he was no longer required??

I don't think any of this was Alain's fault but the guys in charge at Board level probably needs to start showing they have shareholders best interests at heart as a very high priority.

May well have been shown the door given I saw the word redundancy in there somewhere.

Having a look at the last 18 months of announcements, there have been a lot relating to board, management and key personnel changes.

I would be pretty angry if I was a shareholder, especially about the dilution in this situation, and would be wondering if they are going to continue down this path.

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Lets face it he was punted just sat around taking the money while the SP reached new lows this stock is dire without any blue sky ahead!

CFO Price at posting: 16.5¢ Sentiment: Hold Disclosure: Held
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Lets face it he was punted just sat around taking the money...

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