BEADELL RESOURCES...potenzieller Tenbagger ( Seite 66)

Institutional investors have forced Beadell Resources to axe plans to issue millions of options to its board as part of a long-term incentive plan, a day out from the gold explorer's annual meeting.

Beadell said last night it had decided to withdraw six resolutions dealing with the options issue, which were to have been put to a vote of shareholders today.

If approved, the resolutions would have resulted in 5.4 million options being granted to executive and non-executive directors of Beadell. The options would have vested if directors were still with Beadell in a year's time and the achievement of commercial gold production at the Tucano project in Brazil.

The option exercise price was to be a 10 per cent premium to Beadell's share price at the time of grant, in effect the explorer's price following today's meeting. Beadell shares eased 0.5¢ to 59.5¢ yesterday.

It is understood institutional investors used their proxy votes to oppose the options issue, prompting Beadell's board to decide to withdraw the relevant resolutions.
The issue of options to non-executive directors falls foul of corporate governance best practice, while it is understood that in the Beadell case investors felt the vesting conditions were not sufficient onerous

http://au.news.yahoo.com/thewest/business/a/-/wa/13766802/unhappy-investors-kill-beadells-plan/