AZV’s Bogus Bonuses

AZV’s Key Managers Bogus Bonuses

According to page 34 of the annual report over $ 166,713 was awarded to “Key Management” This includes Robert Grey being awarded “100 %” of the available cash bonus. This is offensive to some shareholders that have lost over ¾ of the value of their shares.

How can such a bonus be justified for performances so bad that the CEO had to resign? The concept and definition of a bonus is “an extra payment for doing one’s job well”. With that in mind maybe some “Key Management” base salaries should be deduced as well as having bonuses removed.

Shareholders should challenge these handouts at the AGM.

If all of the bogus bonuses were cancelled then Azures net profit could increase to by up to 15% (~1.26M)

If these unwarranted payments are to be continued in the future then perhaps they could give them a new name.

TUTU (Totally Unjustifiable Top Up’s)

I would like a resolution at the AGM to have the bonus of poorly performing “Key Management” removed.

Please indicate if you would support this or a similar motion.