Well stated!
Since the creation of Jovian in its current form on July 9th, 2003, Jovian's shares have declined by 6.2%, or 0.72% on an annualized basis. In comparison, over the same period of time, the TSX Total Return Index has appreciated by 114%, or 9% on an annualized basis. As the same senior management team has been at the helm of Jovian since 2003, this decline in the share price would seem to reflect the capital markets' concurrence with our assessment of management's performance. The quantum of this rich award to senior management, particularly when measured against the metrics noted above, is certainly material to Jovian's shareholders.