SEI 0.00% 2.9¢ speciality metals international limited

That’s why all shareholders should vote NO to the performance...

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  1. 2,412 Posts.
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    That’s why all shareholders should vote NO to the performance bonus. Directors are already paid a decent salary and their main purpose is to make shareholders money.

    If they don’t change the wording of the criteria for the bonus from “finalising the quarry deal OR the share price rising above 5 cents” to “finalising the quarry deal AND the share price rising above 5 cents”, there is a strong possibility that directors will get rewarded at the expense of shareholders.

    Performance incentives should be aligned with the end result rewarding shareholders. If there is further dilution as a result of shares being issued at a discounted price to secure the quarry, the end result will be a fall in the share price and directors getting paid a bonus which is not how it should work. Shareholders should be rewarded before directors. Not the other way around.
 
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Currently unlisted public company.

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