MFB - My Food Bag

[Basil]

2.77% of the capital.  I guess it all depends upon and needs to be considered in tandem with the base pay rates of key executives.  Only 7 people earning more than $250K including the CEO on just over $600K doesn't seem unreasonable to me for a company of this market cap.  A cynic would say they are making sure they are tucking in with these free performance rights but in tandem with not unreasonably high salaries for top executives it doesn't give me any untoward level of indigestion.  Might bring it up at the meeting and ask what these targets are for FY26 to be granted so many free shares.

[winner (n)]

Lorriana  I thought you were all for Management having skin in the game or the 'owners eye' as you put

Incentives seem aligned to total shareholder return

[lorraina]

Yes however the owners/promotors already cleaned out the pot when MFB listed.
Now the business is coming right,the directors are at the pot again,when I think shareholders should be rewarded first.
Performance rights are free gifts to staff in MFB's case. Over 13 million is a lot of free gifts.
Just looks to me as though MFB are putting shareholders in the far que.

[Basil]

Never fear, Beagle is here. Gives me something to bark about tomorrow. If you don't mind I might use your words "cleaned out the pot when it listed" as part of the barking. Someone needs to make some noise about this so it doesn't get any more generous in the future. Beagle likes barking at Tony Carter.

[winner (n)]

Good one Basil ...I'll cast coverage to the big screen and watch the venerable Tony squirm


Might think up a few questions for online to keep them occupied.

[winner (n)]

Basil ...you voting NO to reappointment of Tony? I have.

[Basil]

I think just the one position as director of WHS would be plenty to keep him occupied at his age lol  See how I feel about him tomorrow.  He's not an unlikeable guy.

[lorraina]

Never fear, Beagle is here. Gives me something to bark about tomorrow. If you don't mind I might use your words "cleaned out the pot when it listed" as part of the barking. Someone needs to make some noise about this so it doesn't get any more generous in the future. Beagle likes barking at Tony Carter.

After I posted was was not sure whether instead of "cleaned out the pot", I should have said "cleaned out the cookie jar" or "drained the well"...
Be careful mentioning "the far que"....lol

Perhaps the performance shares should only be issued if MFB's share price exceeds their listing price..?

[Basil]

Perhaps the performance shares should only be issued if MFB's share price exceeds their listing price..?

I might mention that lol

[seaweed]

After I posted was was not sure whether instead of "cleaned out the pot", I should have said "cleaned out the cookie jar" or "drained the well"...
Be careful mentioning "the far que"....lol

Perhaps the performance shares should only be issued if MFB's share price exceeds their listing price..?

Or maybe listing price plus 50% would be good performance. Will not be at meeting today, in my wobbly condition I am not feeling comfortable 30 stories up in the air, but should be a good view on this sunny day. 

[lorraina]

The market did not like this;
"While we remain confident in our ability to manage inflationary cost pressures, we expect the
Gross Margin for FY26 H1 to close below prior year as our price increases have lagged food price
inflation".
Currently MFB's share price is down 10%.

[winner (n)]

The market did not like this;
"While we remain confident in our ability to manage inflationary cost pressures, we expect the
Gross Margin for FY26 H1 to close below prior year as our price increases have lagged food price
inflation".
Currently MFB's share price is down 10%.

Yes mate, it was a profit downgrade

Prob still get their bonuses as sales are up 

[Stoploss]

Fair bit of "barking " at the AGM re the performance rights. Personally I think the shares should be issued above the market so they have to actually perform to make them worthwhile taking up.
Thank you Basil for keeping them on the straight and narrow.

[seaweed]

Never fear, Beagle is here. Gives me something to bark about tomorrow. If you don't mind I might use your words "cleaned out the pot when it listed" as part of the barking. Someone needs to make some noise about this so it doesn't get any more generous in the future. Beagle likes barking at Tony Carter.

Thank you Basil for grilling the Board. Also mentioning the div.

[winner (n)]

Fair bit of "barking " at the AGM re the performance rights. Personally I think the shares should be issued above the market so they have to actually perform to make them worthwhile taking up.
Thank you Basil for keeping them on the straight and narrow.

The responses weren't very convincing were they ..squirmed their way through eh