Final results due by 30 Sep16 Sep 2016 23:20
will show the updated cash position and total net assets.
From Sep 2015 annaul report..
Mr Groves’ service agreements is terminable on 12 months’ notice by either the Company or the Director. Mr Groves’ annual salary is £242,000 ($358,000). In addition, Mr Groves may be eligible for an annual bonus under the terms of his service agreement.
Mr Burns’ service agreement is terminable on 12 months’ notice from Mr Burns or 6 months’ notice from the Company. Mr Burns’ annual salary is £125,000 ($185,000).
A Sampil has been appointed as a non-executive Director with an annual salary of £80,000 ($120,000). Mr Sampil is a director and shareholder of Faniya Ressources SAU which was paid consultancy fees of $1,125,000 during the year. Faniya Ressources SAU were also reimbursed $297,000 for costs incurred on behalf of Sable Mining during the year.
J. Cochrane was appointed non-executive Chairman with an annual salary of £100,000 ($148,000).
I Personally expect zero return to shareholders and management to sit back and relax for the next few years enjoying their lavish lifestyles funded by their ex-shareholders.