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 MENAFN - - 10/10/2012 4:27:29 PM

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Fortescue share plan's disaster on-high

Oct 10, 2012 (Menafn - The Age - ABIX via COMTEX) --Fortescue Metals Group has issued its 2011-12 annual report, including details on executive remuneration. It shows that development manager Peter Meurs, previously the MD of engineering group WorleyParsons, received a total of A8.1m. While this compares with just A3m for CEO Nev Power, some A5.8m is accounted for by unvested stock options. Meurs had also participated in an employee stock buying scheme set up by chair Andrew Forrest, but made a loss of over A35m on the scrip as Fortescue's share price has declined from close to A6 to just A3.84.

Publication Date: 11 October 2012

FORTESCUE METALS GROUP LIMITED - ASX FMG
WORLEYPARSONS LIMITED - ASX WOR

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