Do you feel like you’ve shot yourself in the foot Soud with a toy gun?
If you’ve read the report you say you “fully agree with” (aka Bill Shorten agreeing with whatever Julia Gillard said) then you must agree with the report’s conclusion that the Board has been “unwise” in paying the CEO “too generously” and that “...shareholder returns have been downright disappointing...”.
It seems you didn’t bother reading the report, but wrongly assumed it was favourable to the CEO and
her friendly Board, so you precipitously jumped in to give them another clearly uncalled for bouquet, when on the facts of the report you “fully agree with”, a brickbat for the CEO and the Board for overpaying her is called for.
The report states , that you “fully agree with: “ With a three year total loss of 42%, Cellmid Limited would certainly have some dissatisfied shareholders.” “ Over the last three years ...the underlying business has failed to impress. Considering this, we have the opinion that the CEO pay is more on the generous side, than the modest side.” You said it: “ This report tells it all.”
As the report apparently didn’t include the CEO’s $150,000 bonus in shares allotted in the CEO’s pay, it’s criticism would have been even more scathing of the company’s inexplicable generosity to the CEO had it.
T7 and Lev may not be impressed.
CDY Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held
