Decision details

Remuneration of Independent Non Executive Directors Ubico Ltd

Decision Maker: Leader

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

To APPROVE the following revised remuneration package backdated to 1 April 2020:

 

      Independent Chair - £10,000 pa

      Independent NED - £5,500 pa

      Chair of Risk and Audit - £6,500 pa

Reasons for the decision:

Ubico’s Governance and Nominations Committee considered a report recommending a review of the renumeration package for the company’s INEDs. The review identified the following reasons for the recommended changes which were accepted by the Committee:

 

·         Significant changes in Executive Team

·         Global pandemic

·         Changes in the role specification and market rates.

 

At the company’s Board meeting on 27th April 2021, it was resolved to accept the recommendations of the Governance and Nominations Committee to revise the remuneration of the INEDs.

Alternative options considered:

Not to revise the rates.

Publication date: 05/05/2021

Date of decision: 04/05/2021

Effective from: 12/05/2021

Accompanying Documents: