Fees to board members elected by the General Meeting are decided by the General Meeting. The Annual General Meeting April 12, 2023, resolved in accordance with the proposal of the Board of Directors that the monthly remuneration payable to the members of the Board of Directors elected at the Annual General Meeting for the term until the end of the Annual General Meeting in 2024 be as follows:
- EUR 8,000 per month for the Chairman of the Board of Directors;
- EUR 5,000 per month for the other members of the Board of Directors;
- EUR 2,500 per month for the Chairman of the Audit and Compensation Committee; and
- EUR 1,500 per month for the other members of the Audit and Compensation Committee.
The Annual General Meeting resolved further that the remuneration will be paid in four (4) instalments during the term, each instalment after the publication of the respective interim report for the periods 1 January 2023 – 31 March 2023, 1 April 2023 – 30 June 2023, 1 July 2023 – 30 September 2023, 1 October 2023 – 31 December 2023. Each board member has undertaken to use approximately 50% of the aforementioned remuneration to purchase shares in the company within two weeks from the publication of the aforementioned interim reports, or as soon as possible in accordance with applicable legislation. The Annual General Meeting also resolved that the travel expenses of the members of the Board of Directors are compensated in accordance with the Company’s travel rules.