It's an increase to the Fee Pool, in order to;"assist in...

It's an increase to the Fee Pool, in order to;

"assist in accommodating any increase in the number of Directors and provide the flexibility to allow payment of appropriate fees over time."



From todays announcement;

Clause 13.7 of the Constitution provides that the Company may pay to the Non-Executive Directors a maximum total amount of Director’s fees, determined by the Company in General Meeting. For this purpose the Board is seeking the approval of Shareholders to increase the Non-Executive Directors’ fee pool by $100,000 from $200,000 to $300,000.

This has been determined after reviewing similar companies listed on ASX and the Directors believe that this level of remuneration is in line with corporate remuneration of similar companies. Shareholders should note that the Directors do not presently intend to distribute all of the $300,000 (if approved) in the current year, rather it will assist in accommodating any increase in the number of Directors and provide the flexibility to allow payment of appropriate fees over time.