I also received a letter from 2 shareholders, dated 21 October, opposing the group remuneration report and the re-election of Peter Abery as a director. These guys make some good points: - Abery (NOD's chairman) was paid more in 2012 and 2013 than the chairman of companies 10x-20x larger in mcap than NOD. - Abery has been a director for over 5yrs during which time the shareprice of NOD has been down 80%. - NOD's CFO was paid as if he was running a significantly bigger co. (ie again 10x-20x bigger than NOD) - NOD's CEO was paid in excess of $450k in FY13, despite overseeing a business with completely autonomous divisions (McGrath and Eastern States).
I'm going to support these guys, given the points they've made. Any cuts to group remuneration mean more rewards for shareholders! Onward and upward.
NOD Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
