Summerset seeks to boost directors’ fee pool by 50 percent as board gets rejig

Mon, 24 Mar 2014

By Paul McBeth March 25 (BusinessDesk) - Summerset Group, the retirement village operator and developer, will ask shareholders for a 50 percent bump in the directors’ fee pool to account for a rejigged board, having delivered a 153 percent boost in the company’s stock price since it listed in 2011. The Wellington-based company wants to lift the pool for directors’ fees to $600,000 from $400,000, which it says will compensate the directors who replaced representatives of former cornerstone shareholder Quadrant Private Equity, and chief execu...

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