RE:RE:RE:Nutballs must hate LoukasThey can complain about the compensation expense.
It is clearly an internally divisive subject. We know this becuase there is a question about it on the AGM voting documents - its the only question other than approving the auditor and voting for the directors.
That question would not be on the voting document, unless someone wanted it there.
My interpretation is someone internal, wants that compensation plan changed, and they can't do it without a shareholder mandate.
It will be interesting to see what the shareholders have to say about the compensation plan in the votes that will be disclosed at the AGM. Chances are the voting result will give a mandate to whoever internal wants it changed.
In the Q1/22 report, it seems that the author was apologetic for the compensation payment. The NR even went so far as to say this charge will be mitigated in the future because many of the elements had hit their caps in that single quarter. They also made a point of saying the compensation could be paid in shares rather than cash, at the choice of the company. The whole point of that compensation plan was to avoid diluting the shares - buy paying in cash rather than millions and millions of sub $1 shares. Now that the share price is improving, paying in shares becomes a relatively minor matter. At $23/share, its a million extra shares, and a $23 million reduction in debt!
Chances are OBE will strengthen around the AGM, is becasue there are many share price positive announcements that may be made or indicated at the AGM. H2 capex expansion; conversion of bank debt to debintures; dividends etc.