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A 2x increase in director fees' is surely a lot. Looking at UGH's annual report, only 4 out of the 5 in the BOD take director fees. So 242k/4 = 60k per director was probably still ok for a 120mil cap company.
With the new fee structure, each of the 4 director's remuneration would now be ~180k per annum in FY24. That would be quite comparable to the fees that a NEID on Keppel's BOD received in FY23. And mind you, Keppel Ltd's market cap is 100x more than UGH.
MINUTES OF ANNUAL GENERAL MEETING
Could the Chairman provide insight on the notable rise in the Director fees from S$242,678 to S$773,686, amounting to a half-million-dollar increase as compared to last year?
The Chairman addressed that the Company had minimum adjustment on Directors’ fee for the past years. He acknowledged the Shareholders' concerns in relation to the magnitude of the fee increase, he is in the view that with the leadership of the
Board and extensive experience in the industry, the Company's performance could be able to justify the increase.
https://links.sgx.com/FileOpen/UGHL-AGM-...eID=805129
With the new fee structure, each of the 4 director's remuneration would now be ~180k per annum in FY24. That would be quite comparable to the fees that a NEID on Keppel's BOD received in FY23. And mind you, Keppel Ltd's market cap is 100x more than UGH.
MINUTES OF ANNUAL GENERAL MEETING
Could the Chairman provide insight on the notable rise in the Director fees from S$242,678 to S$773,686, amounting to a half-million-dollar increase as compared to last year?
The Chairman addressed that the Company had minimum adjustment on Directors’ fee for the past years. He acknowledged the Shareholders' concerns in relation to the magnitude of the fee increase, he is in the view that with the leadership of the
Board and extensive experience in the industry, the Company's performance could be able to justify the increase.
https://links.sgx.com/FileOpen/UGHL-AGM-...eID=805129