Member Info for addicknt

SM, I've made my feelings perfectly clear to the company and suggest everyone else does the same. This is totally unacceptable - particularly in the light of the begging letter the other day.

mog, I'm assuming as guests we won't be able to ask questions.
This is the responsibility of our Investor Relations team and please bear in mind he was paid $450k for this absolute s**t show.

DBW, thanks. I've sent a message to mine, but am not hopeful of a prompt reply.
This is an absolute farce! Why didn't the company make the process crystal clear? What a total fecking mess!

I've just emailed Fawzi to ask for directions and guess what?...he's on holiday!

RK, damn! How do we get those? As you say, the company hasn't made the process easy - which is pretty stupid as they're desperate for our votes.

sean, there's a reason for that. Q has often said he doesn't invest to make money - his guiding principle is not to lose money.
Personally, I'd have thought if this truly was the case, his money would be better off in premium bonds. Still, each to their own.

RK, I think the number is 175-614-205.

MF, you're quite right.

Novice, so you think that everything that's gone on over the past few months is irrelevant? In your view the CGP deal, new management and the SR are just window dressing? I fear you're very mistaken.
Something will emerge from all of this and to my mind, the promises the CGP board have made to their own shareholders holds more water than anything said by our management over the past five years.

Novice, you've changed your tune! What's happened?

Sorry, Fort I got this slightly wrong. It seems the mechanism is that we pay CGP 20% and they then pro-rate that to the shareholders who want it. I guess this simplifies matters, but the effect is the same. I assume any cash left over will then be acquired by us upon completion.

1) No they cannot opt for a 100% cash payment.
2) I broadly agree that it doesn't make sense to offer any cash, but this is a sweetener. If I were a CGP holder and given what's going on, I wouldn't want any cash.

Fort, the 20% relates to an individuals holdings i.e you'd still have to take 80% in shares.

Absolutely, rcgl.
This level of remuneration is shocking. I'd be quite surprised if a FTSE 100 IR person gets this amount. And in combination with DC's booty it makes it look as if remuneration is out of control...or rather, was out of control.
Sorry, Fawzi...you're probably a good bloke and are doing your job well, but you're being wildly over-rewarded. This incentive scheme is obviously too generous and needs to be revisited by the board. A question for the AGM?

The same incentive scheme that delivered $1.1m to DC. Given the sp performance it makes you wonder what they would have been paid had the company performed well.
And yes, Fort, it's true.

Rcgl, indeed.

Bubble, the agm's on Thursday.

I have just been re-reading the management info relating to the Resolutions. The explanatory notes relating to last year's AGM are interesting and worth a quick look, as are the guidance notes concerning the code of practice and which of the Resolutions are advisory only.
We will not receive the required 80% for some of the advisory Resolutions, which the board will, in effect, ignore. (they have to provide an explanation next year, which I find a bit strange)
One thing sticks out and that's Fawzi's remuneration. I hadn't realised he's paid $450k p.a, which I find utterly extraordinary. If we could vote for each individuals remuneration, he most certainly wouldn't get mine. Bear in mind our new CEO is only earning $200k.

Come on copper, tell us what you know!

Q, so do you believe DGR will sell in the open market; or will they sell to another interested party in an off-book transaction?
To my mind, neither of these two things are remotely likely. He can't sell in the market without crashing the shares and his personal holding with it, and he would be a fool to sell without an auction. This is his baby and he isn't going to throw the towel in unless it's payday. This tells you all you need to know about the DGR statement.