Benjamin Hornigold Ltd Battles Fee Cut Proposal

Benjamin Hornigold Ltd. (AU:BHD) has released an update.

Benjamin Hornigold Ltd. faces a challenge from minority shareholder Keybridge Capital, who proposes a special resolution to drastically cut non-executive directors’ fees from $450,000 to $40,000 per year, a move opposed by BHD’s Board. The Board argues that such low fees would hinder the ability to attract and retain qualified directors, essential for the ongoing complex litigation and the company’s operations. Shareholders are being urged to vote against the proposal, with the Board emphasizing their commitment to acting in the shareholders’ best interests.

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