Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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They’re not going to give the asset away - unless you want them to!
Binky: yes. I've looked a little closer. Shares were paid in lieu of directors fees and the options granted at 0.0575p. I have no problem with that. It doesn't look like they've been paid in shares in the latest financial year, hence the pay hikes. Still, LR hasn't put his hand in his pocket yet.
I just hope they don't give the asset away and everyone gets a great payday.
Oh I see what you're getting at DW - 'skin' prior to 0.01p RI. Yes it was less significant but they still held shares (I'd argue that taking shares instead of cash still amounts to 'skin') and options. I also maintain that operational performance has been good.
The 24m were in lieu of directors fees @ 0.0575p (£13,750) and the options were also 0.0575p. The share price on the day was between 0.06 and 0.07.
@DW...On 220518 LR bought 23,913,043 so we will need to check the price on that day.
Also on 220518 he got options of 112,500,000 ….
In total he has close on 1% so I guess he is a wealthy man ?
Shed: Enlighten me on these mistakes. It was a question and an answer that I quoted. Yes, things changed since then and MC and DB put in cash at the bargain price placement. LR said he couldn't afford it. Can anyone remember what their original share options were priced at? They're way north of now.
Are you acknowledging your mistakes DW before I get into a discussion about the SP? (which I'm not about to defend anyway).
Shed: Have a look at the share price from November last year through to June.
bobby, the salaries are not big or sickening. If you bought at the right price and the BOD perform you could earn the same for just buying the share. The salaries are comparative to a lot of aim, if not on the low side. I know Michael and Kenny that set up PURP. You want to see BOD exploiting holders, look at that.
We should be in the 15-20mil Mcap range at this point. Correction due
Sorry Oil - hadn't seen that when I posted, interesting info though I would prefer they were 100% focussed on the big prize like us rather than being so well rewarded in the meantime. Again I admit in the league table of outrageous AIM salaries they are very modest and we can't argue with the operational performance.
A few inaccuracies there DW they both have shares and options and compared to many AIM companies their salaries are low (though I think substantial enough). MC has much more stock that he has actually bought than LR. On performance I would argue that operationally it has been superb though obviously the SP is disappointing to say the least. It probably wouldn't go down well at the AGM but if they had the brass neck they could actually argue that the SP is up over 100% from the low. Everyone had the chance to invest then, I think a lot of people piled in during the August stampede and are suffering for that.
their salaries should be adjusted to reflect the share price, which, after all is the best reflection of the work they have done so far. Now, where’s that calculator...........
When asked earlier last year why the directors didn't have skin in the game, LR replied "we're on low salaries". MC looked a bit uncomfortable then. I'd like to know the justification for these salary hikes because it's not reflected in the performance.
When you look at 'salary & fees' combined their rewards have increased substantially from 2018 to 2019 which I supposed reflects the increase in activity. If I could make the AGM I'd like some clarification on the fees as Laurence keeps reminding us cash is tight. Unless I'm reading it wrong MC had £80.5K on top of his salary in 2019, I'd like to know what that was for. Happy to be corrected.
Guys,
I am going to be voting in the affirmative on all 3 resolutions. I think the guys are doing a great job. Also for what its worth I have copied and pasted the below gleaned from annual report on EUZ website.
Executive contractual arrangements
Laurence Read – Executive Director
Salary £75,000 per annum
Term Ongoing
Termination 6 months notice period by either party
Myles Campion – Technical Director
Salary £100,000 per annum
Term Ongoing
Termination 6 months notice period by either party
And it should be a good one too Bricks. Hopefully the METS are published before.