Ann: Papyrus engages MAP Capital Advisors , page-8

Keeting, I don't know that I can agree with you.

PPY is a public company, and it's the Board (who are meant to be operating in the best interests of all shareholders !! Hahaha) who sets remuneration levels, via their so called "remuneration committee"
Ramy does not (and should not) set his own remuneration, and "pay himself whatever he likes"

It is not Ramy's private company, as you seem to suggest.
He is not the "business owner" nor even the "majority owner" .... He owns around 20% of the stock, with the other 80% being owned by others who I cannot imagine believe they got value for the $300K +gst+car+expenses+ business class airfares +++ per annum for Ramy's efforts.

The reason Ramy is such a significant shareholder in the first place is due to the shares he was "granted" for free when PPY was floated. He never chipped in any of his own money. Even his early work was courtesy of government funding.

He invented the idea of rotary veneering small lengths of banana trees. That's all. !! He certainly did not realise it commercially, nor did he have any contribution of value to get the Walkamin demonstration factory working.
Even the production of chips for board manufacture (as in the now defunct yellow pallet project) does not need to rely on his original "invention" of rotary veneering, however as the company and Ramy and all their IP was so intrinsically linked to the process of rotary veneering, much simpler methods of creating chips was never entertained.
Another sad chapter.


The fact that the Board agreed, and continued to agree, that Ramy should be paid such a handsome annual sum, is testiment to their misguided and blind faith.