Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Found it quite surprising that the AGM is an in person only event this year, I couldn’t find if it was even being recorded to view later? Anyone know? I’m away on holiday otherwise I would attend, anyone here planning to go?
Nothing would surprise me at this stage. Can’t see them selling AICL, they’d then have to use Roger’s loan to pay off upcoming debt and that would leave no cash….and we know the board love spending cash so they’ll come back to the market for some. PI’s will get shafted again, rinse and repeat every few years while the board pick up their salary and bonus cheques for a job well done. Criminal
Getting the exact number is difficult, but even the overall remuneration of the directors and exec leadership team is pretty hefty at £6.4m a year, not including share based payments. For a company posting £20m underlying profit it’s eye watering.
Completely agree, it’s a nice lifestyle business for the ceo and pals now, I don’t think there’s any genuine interest in returning value to shareholders. I appreciate I sound like a broken record, but how bad does performance need to be before we stop seeing performance related bonuses being paid out, it’s criminal.
I’m no where near that far down but I am certainly under. I initially had a £2 exit in mind but I don’t think we’ll see that for some time. This year is key for me, if I don’t see some positive news at the AGM and then the mid year update, I’ll be packing it in before the years out. Hopefully it will spike on the AICL sale this year, but I wouldn’t be surprised to see that fall through. Euan was very bullish about achieving a sale this year, which makes me even less confident of it happening. If that falls through we may as well all sell up and move on
I’m thinking If there’s no positive news by the time the AGM comes around it may be time to bail.
I’m starting to bore myself moaning about director remuneration at the same time as shareholder value being destroyed.
If they don’t have some positive news on AICL being sold and actually making some money it may be time to accept that this is as good as it gets share price wise
So now we just have to wait patiently for the AGM and hope that there is finally some positive news.
Only material news on the horizon is the sale of AICL, which surprisingly the directors seemed very confident in achieving……let’s hope for once they deliver.
The sale may give the price a bump which might help some to get out……hopefully me!
I’ve read this previously. I wouldn’t say it’s a fantastic read but certainly informative. My views on the executive pay are no secret as I’ve been vocal in this forum on the ridiculous pay and bonuses they pay themselves for such poor performance. The £6 hurdle won’t be hit, let’s just hope it’s not reviewed and changed as per the committees right to amend as it sees fit.
What I can’t stomach is bonuses being paid while dividends are suspended, just isn’t right. I could accept lower salaried employees still being paid something but the senior directors and execs should not be getting bonuses while shareholders aren’t getting dividends and seeing the stock price decimated.
Here’s hoping the next AGM delivers some positive news……
Weirdly I struggled to find nailed down dates for the transformation plan bonuses but to be honest I think it’s irrelevant as they will never get any where near £6 over the next 4 years if we accept we’re already a year into the plan