KINIBIZ The Malaysia Airlines annual general meeting (AGM) was extended by two hours today after a poll vote was called to decide on a resolution concerning directors’ fees.
On chairperson Md Nor Yusof’s insistence, voting was switched from a show of hands to a poll vote. Under a poll vote, shareholders’ votes are counted based on the number of shares held.
The resolution to “approve payment of directors’ fees amountingâ to RM396,000 per annum for the financial year ended December 2013” eventually passed with 79 minority shareholders voting for the resolution and 70 against.
Non-executive directors however chose not to accept directors’ fees after conceding that the board’s performance during 2013 was poor.
Shareholders had earlier expressed deep dissatisfaction, going as far as to call for top management to resign.
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