The departure of Trevor Dietz, Brian Hall and Antoine Wiese should help the bottom line. The 2017 Annual Report shows they were each remunerated $465K but the figures have recently been amended with B. Hall and A. Weise remuneration each now being reported as $514K. These two guys also had a company that was providing consulting services to BPS and charging approx. $95K per year. If you add those numbers, their combined remuneration and consulting fees came to over $1.5M per annum. And the business only reported a profit for the first half of the 2018 year of $2.7M
The above three Directors each have approx. 10M shares each. The remuneration of Directors is not tied to performance.
I agree with the view that the new CEO has cleared the decks and should be able to focus on the business without having to deal with too much 'baggage'. In the mean time, the share price will reflect shareholder anger and frustration. At the time of writing, the share price is languishing at around 31cents having reached an intra-day low of 29cents on Friday Feb 23.
BPS Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
