Wiremu,what you say is factually correct but if there is one thing that seems to be making me ant-director at the moment it is this one.The ESOP scheme as i understand it was created to give staff some easy involvment into the company,any company not just NZO.The staff are not decision makers,they merely carry out instructions as best as they can. I would have no complaints with the ESOP scheme if it had stayed with staff.Unfortunately Tony Randford last year invented a reason why he should be included and with the help of the AMG was included.Now naturally other directors want in.
Lets think for a minute what this is saying.It is telling us that they will make the decision on how the company is run and that as they know most about their decision making ability want to quickly cover themselves on the downside.Now we go one step further and introduce Mr Knight a acquisition expert.Mr Knight knows better than the rest of us how a acquisition in this environment comes with high possible reward and high risk.Breaking all records he wants to cover his butt on the downside but clears himself to grab all the gains if his decision is correct paying a mere 20% extra if gold is struck.
When the Titanic sunk the captain went down with the ship. About three years ago a similiar ship went down and all were saved due to the action of an non staff individual who was the last to leave.When help first arrivied the captain insisted he be one of the first three rescued.My point here is clear and says more than anything about the world mess we are in.We have evolved backwards and our so called leaders especially in industry have become help yourself people who want no negative exposure to the decision they make.
So there you have it why i oppose resolution 7. Mr Knight if by our misfortune gets past resolution 5 wants you voters to carry the downside of his expert decision.
Note i will also be contacting the stock exchange to see if it is valid that Mr Knight can sneak in as a director on the coattails of the other three directors covered in resolution 5.I believe seperate votes need to be held for each director.
Digger