Originally posted by rhart3
Call me cynical but could it be the Directors are silent because they must now admit the RMS offer is both FAIR and REASONABLE and they are scared the Alkane vote will go against them . They are compromised, hence the delay.
These three Directors (Chris Baker,John Lawton and Stephen Strand ) pulled $880,000 remuneration last year and yet only own collectively 4.5 million shares (I own more ) Major shareholders owning 20 % of the company now support the RMS offer but the Directors know their income is worth more than their shares. The RMS offer is 2 cents cash plus 1 for 4 shares. 2 cents is a 25% dividend on an 8 cent share price which is what EXU will be again if the Alkane deal is not voted down
I and the other much larger shareholders need to protect our investment and can't afford to go back to near insolvency and the difficult prospect of begging for money.
Of course I have self interest but I also want these resources actually mined and turned into a profitable enterprise. Yes I have been a long term supporter of RMS because they have $100 million in the bank that proves their competence.
If you value your shareholding please vote against the Alkane deal, it can be done online at investorvote.
This is not intended to upset anyone it is simply my opinion, and whatever you do I wish all EXU holders good luck in the future
Another post about remuneration that is off the mark. As has been remarked in various other threads for different companies, the $ that goes into the annual report is not the $ that goes to the director/executive. They have to factor in the potential of performance equities as well. I don't know what the hurdle is for EXU but in one case, a doubling of the share price was required as the hurdle, but the annual report STILL showed a large chunk as if it was being paid that year.
I would be pleased if some broker or accountant could comment on that calculation here, because this comes up a lot, and I'm pretty sure it's completely misunderstood by most investors.
