Shareholders of Spar voted in favor of a resolution to allow the payment of non-executive directors’ fees after a freeze period.
- The decision was made at a special general meeting held on Friday, where shareholders discussed and voted on the resolution regarding directors’ remuneration.
- Earlier this year, at the February Annual General Meeting (AGM), the resolution on directors’ remuneration failed to pass, resulting in directors not receiving any fees.
- The remuneration committee has restructured the proposed fees, which will now include a retainer and meeting attendance fees for the directors.
- The freeze on directors’ fees had temporarily affected the remuneration of Spar’s non-executive directors, but with the approval of the resolution, they will now be able to receive payment again.
- The vote in favor of resuming payment indicates the support of the shareholders for compensating the non-executive directors for their services.