Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Qdnano - Firstly, the percentage I quoted re the LTIP is half what it could be (under exceptional circumstances). Secondly I think you are confusing me with someone else as that is the first time I asked the reason for the £20 million retention (which would be great for management bonuses and pay awards going forwards!). Thirdly I have attended each of the current and requisitioning management webcasts (as a cursory glance at my posting history will confirm).
@Qdnano - Frankly the LTIP conditions are so wooly as to make them useless and the Remuneration Committee give themselves Carte Blanche to disapply certain metrics.
Question for you now - Why are current management seeking to retain so much of the second tranche to be received from Samsung? £20 million or so?
There’s definitely a job as a panto scriptwriter waiting for you somewhere Trouble! (BT’s behind you!)
There’s definitely a job as a panto scriptwriter waiting for you somewhere Trouble! (BT’s behind you!)
You’re a naughty boy Trouble!
Qdnano - please calm yourself - if you carry on like this you will give yourself a heart attack. It’s just not worth it. Meant in complete sincerity.
Qdnano - Tenner’s fixed remuneration is not in dispute - it’s what he is going to get in FY 2023 following the “transformative” Samsung outcome per the current Bonus and LTIP arrangements. People can read for themselves from p 63 onwards and draw their own conclusions.
@7shares - you make a fair point. for me it’s just that i have lost any faith i had in the current management - they glossed over the serious questions about phone calls on the eve of settlement, they gave an inadequate response to their appalling rns communications and they are not running this company for the retail investor. they are taking massive compensation for doing a **** poor job and it’s always jam tomorrow - i have simply had enough!
@7shares - All we know from the TH presentation is that the TH team believe that the remuneration arrangements for the existing board are excessive (I agree with that assessment for what to date has been a loss making company). They are committed to lowering the amount of board compensation in the event that they are successful in ousting existing management.
Qdnano - From the 2022 report and accounts re Tenner:
Salary 291,500
Pension 21,863
Bonus 364,375 (125 pct of salary)
LTIP 437,250 (150 pct of salary although can go to 250 pct of salary in exceptional circumstances)
Total GBP 1,114,988
“….. and a bottle of rum” please Trouble!
Does a “small high tech company with just 36 employees” need to pay its CEO £1 million a year and have a full (rather than AIM) stock exchange listing?
There has been speculation on this board as to whether market abuse has occurred - I thought it might be useful to quote directly from the FCA website :“We do review all notifications we receive about suspected market abuse. However, we operate under statutory confidentiality restrictions, and we do not provide feedback or confirm whether we are taking further action.”
KEY MOMENTS
Chosen by us to get you up to speed at a glance
10:10am
Eurozone core inflation refuses to budge
7:48am
PM backs 2030 ban on new petrol cars
7:37am
BT names new boss tasked with thousands of job cuts
7:33am
Sunak approves hundreds of North Sea oil and gas licences
7:29am
5 things to start your day
The Government has signalled that it will rethink its windfall taxes on oil and gas profits after the Prime Minister announced hundreds of North Sea oil contracts.
The Treasury has already committed to keeping the so-called Energy Profits Levy in place until March 2028 as companies saw their earnings surge after Putin’s invasion of Ukraine.
However, today ministers launched a call for evidence seeking views on the “evolving context for taxes” on the sector over the long term.
Rishi Sunak said the projects were vital for Britain’s energy security amid the war in Ukraine and pointed to new analysis showing domestic gas production has around one-quarter the carbon footprint of imported liquified natural gas.
Rishi Sunak will travel to Aberdeenshire to reveal that North East Scotland and the Humber have been chosen as the locations for two new carbon capture usage and storage clusters, which could support up to 50,000 jobs.
The Prime Minister said a quarter of Britain’s energy needs will be met by oil and gas even if Britain meets its net zero targets by 2050.
Mr Sunak said: “We have all witnessed how Putin has manipulated and weaponised energy – disrupting supply and stalling growth in countries around the world.
“Now more than ever, it’s vital that we bolster our energy security and capitalise on that independence to deliver more affordable, clean energy to British homes and businesses.
“Even when we’ve reached net zero in 2050, a quarter of our energy needs will come from oil and gas. But there are those who would rather that it come from hostile states than from the supplies we have here at home.
“We’re choosing to power up Britain from Britain and invest in crucial industries such as carbon capture and storage, rather than depend on more carbon intensive gas imports from overseas – which will support thousands of skilled jobs, unlock further opportunities for green technologies and grow the economy.”
News has arrived !! Great RNS.
THIS REALLY IS GOOD!! TAKE THE TIME TO READ IT. MANY THANKS TO THE ORIGINAL POSTER AS THIS BOARD HAS TAKEN A TURN FOR THE WORSE OF LATE.
An Excellent Summation of the Current Situation and one investors views from the Adfn BBToday 19:40
There is an excellent post by PJ84 over on the Advfn BB that goes into much detail over recent events, analyses the suitability of the relevant candidates, and sums up perfectly the dilemma and how he has reached his view and conclusions on how he will be voting.
I strongly suggest all contributors and readers should review his post.
PJ84
26 Jul '23 - 18:25 - 36091 of 36092
Advfn BB
https://uk.advfn.com/cmn/fbb/thread.php3?id=35174920
this company is a complete **** show. coms from current management are awful. heads need to roll “pour encourager les autres “
I got through on the phone - no way of knowing how many people are on the call. The nominee directors are introducing themselves at the moment and are detailing their cv/resumés.
Has anyone had a look at today’s RNS?
Chaps - Let’s all go to bed tonight and regroup tomorrow afternoon to continue the conversation after we have heard the TH viewpoint. I certainly felt that the session today was useful. “A demain” from Brittany.