Rakon seeks increase in directors' fee pool to cover new board member

Mon, 09 Jul 2012

By Paul McBeth July 9 (BusinessDesk) - Rakon, the communications components maker which dropped out of the NZX 50 index last month, will ask shareholders to lift its pool for directors' fees to cover the latest addition to the board. The Auckland-based company wants to increase the maximum aggregate amount of fees to $360,000 from the current $300,000, and will put the motion to shareholders at its Sept. 7 meeting in Auckland. Chairman Bryan Mogridge told BusinessDesk the increase will be used to cover the May appointment of Peter Springfo...

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