The General Meeting may decide to use one or more ways of compensating the Board, such as cash payments and shares. The remuneration paid to the Board may consist of several components, such as a fixed base salary and meeting fees. The level of compensation paid to Board members may vary depending on the amount of work so as to take account of the member’s position as a chair or vice chair, or their role in a Board committee. Members of the Board of Directors are paid travel expenses in accordance with the Company's practices.
Members of the Board of Directors are not employed by the Company or its Group companies, nor do they act in an advisory capacity. Members of the Board of Directors are not entitled to employment-related salary benefits or remuneration, or any financial, pension or other benefits that are unrelated to their Board membership. In order to guarantee the Board of Directors’ independence, Board members may not participate in SRV’s incentive plans.
The Annual General Meeting of 25 March 2024 decided that the following remuneration should be paid to members of the Board of Directors:
Annual fees 2024
The aforementioned annual fees will be paid as a combination of SRV Group Plc’s shares and cash in such a manner that 40% of the annual remuneration is paid in the company's shares, which will be purchased from the market on behalf of the members of the Board of Directors at a price determined in public trading, and 60% is paid in cash. The company will reimburse the transaction costs and capital transfer tax in connection with the purchase of the remuneration shares. The shares will be purchased within a period of two weeks beginning from the date following the publication of the quarterly result for the period 1 January - 31 March 2024.
Meeting fees per Board and Committee meeting attended in 2024
Travel expenses arising from work for the Board of Directors shall be reimbursed in accordance with the company’s travel policy. Meeting fees will be paid in cash.