AGM - Further Update
Managing Directors propose fee reduction to €250,000 combined annually and acceptance of termination by third AGM anniversary.
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This announcement should be read in conjunction with the Company's announcement issued on 18 May 2026.
The Board of Directors of the Company received a letter on 18 May 2026 from the Managing Directors with the following text:
Quote
To the Members of the Board,
We would like to formally submit the following proposal for consideration in connection with the upcoming reelection and continuation of our appointments.
Subject to reelection, we are prepared to agree to a waiver of any applicable termination fee. We further propose that our current terms of appointment be terminated by the third anniversary of the 2026 AGM, at which point all terms and conditions may be revisited and renegotiated in good faith between the parties.
Furthermore, we are willing to accept a reduced fee structure effective as of 1 January 2027, with a combined total annual fee of €250,000 for both of us.
In addition, we would be willing to accept an incentive scheme for both of us along the lines of 1% of total distributions, with the exact terms and conditions to be agreed and negotiated at a later stage.
We believe this proposal reflects a constructive and balanced approach that supports continuity, stability, and the long-term interests of the organization.
We appreciate the Board's consideration and remain available to discuss the proposal further if needed. Should the Board be supportive of the above proposals, we would propose that the relevant documentation be prepared and drafted accordingly.
We authorise DCI with publishing the letter to shareholders.
Kind regards,
Nicolai Huls and Nick Paris
Unquote
The Board is of the opinion that this material change to the contractual arrangements with each of the Managing Directors, including the remuneration, is in the interests of the Company and of shareholders.
Subject to the re-election of Nicolai Huls and Nick Paris pursuant to Resolutions 3 and 4 to be considered at the AGM, the Board intends to proceed to amend the relevant contractual arrangements with each of the Managing Directors.
Any new incentive scheme will be put to a shareholder vote.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.