Macarthur Minerals Ltd V.MMS

AGM voting on new compensation resolutions

[Trekewl]

There are a couple of controversial items on the agenda for the Oct 27 AGM.

RESOLUTION 9: APPROVAL OF OMNIBUS INCENTIVE PLAN - this will allow for the issuance of 10 million BONUS SHARES.

RESOLUTION 12: POTENTIAL KEY EXECUTIVE TERMINATION BENEFITS - they are looking to remove the restrictions on how much they can compensate individuals who leave the company. And they are looking to lift this restriction for the next 3 years.

Shareholders need to ask themselves if management should have the ability to freely reward themselves when:
1- the share price is down 33% year-over-year.
2- the BFS has been perpetually delayed.
3- the opportunity to cash in on sky-high iron ore prices appears to have been missed despite the shovel-ready DSO hematite project.

I'm not in a rewarding mood myself.

[bigstar10]

The share price is down but not for long! Compensation via shares is much better than cash, and since the s/o is down more shares are required for compensation......all good mate

[McRambus]

Really? Have you looked a chart recently? I see a new low and the share price down a solid 50% and going down further. This management is fekking useless and to reward them is absurd. The fact that all this shitt got passed is probably the reason for this crash the past 3 days. Not that it matters cause I don't have enough shares and I'm one of the few that actually reads the proxy

[dpd1940]

I am with you on this. Very bad timing on managements part. There is too many headwinds against us. Iron ore down 50% and the cost to build a mine is going up. Their market cap is only 36.14 M and S/P tanking Australia is not a great place to build anymore with their green lock down goverment. My money has been tied up with them many years and now only breaking about even. I feel with this low of

[SusanBolland]

agreed