RE: LTIP RNS8 Jul 2022 09:48
"In establishing the LTIP, the Company's Remuneration Committee has taken advice from a leading independent consultancy."
Who is on the remuneration committee?
Oh that will be the recipient's of the remuneration, we don't have that many employees to have an 'independent' remuneration committee but a pretentious statement including the words 'remuneration committee' sounds independent.
"leading independent consultancy"
That's simply paying a knowledgeable company to see how much we can award ourselves legally.
"the Company's remuneration policies will be developed on a systematic basis and matched to performance metrics, such as achieving important business milestones"
What are these performance metrics? As shareholders we should be informed or are we going back to the former ad hoc decisions on this one?
You can include "vesting period, strike price, expiry date and any performance conditions as it determines reasonable."
But as we all know if events go against you, you can easily change these so-called conditions, as you have done in the past.
"The total number of options under award will not exceed 10 per cent. of the Company's issued ordinary share capital at the grant date."
That seems a large percentage of the company's overall issued shares, but hey, the leading independent consultancy has told us we can include that much if we need it, or need more.
"The Share Options are valid for 10 years from the date of grant."
That's a long time, but guess what, although an unusual lengthy timeline, we've been advised this is perfectly legal by
the leading independent consultancy we have engaged. And you, the shareholders, have paid for it.
"The initial award of options"
That's 3.9% overall, so plenty more to come.
The Company's Nominated Adviser has 'advised' that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.
I'm sure they are and thank you, have a nice day I'm going to.