Nothing wrong with "Performance Rights" to provide directors with "INCENTIVE". However, when you look at where this board has taken this company from the beginning - if measured by the share price performance - then generous rewards are certainly not in order.
An appropriate incentive depends on how high the bar is set and it should take into account the longer term picture of where the SP has been . . . not just the low point. And also the general economic & political environment. Tony Abbott has re-stimulated the resources boom. Is this a reason for directors to be rewarded. They just happened to be in the right place at the right time . . . nothing to do with performance.
I believe that the proposed Performance Rights are overly generous, and they will not get my vote.
Directors' rewards set by directors - bad governance.
TRF Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
