Forum Archive Index - October 2000

[Marilyn Munroe <who.c@res.co.nz>]

I was going to join in the recent posts decrying the executive options
issue, so I dug out my copy of the Wrightsons annual report.

Out from the middle of the report dropped an unused proxy form. Shame; I had the opportunity to vote against the options and had not exercised it.

If I had posted my thoughts on this issue I would have been like those ghastly people one meets on social occasions who rail against the government, but when pressed as to how they voted, confess that they have not voted.

With my moral authority on this issue debased, I will none the less press on and provide you with my opinion.

The exercise price of these options (57c) is too low given;
 

•     The low exchange rate, and

•     Higher farm commodity prices.

To paraphrase, it is the equivalent of hiring a rain maker when you already know that the barometer is falling, and there is a rising wind from the east.

Boop-boop-de-do Marilyn

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