21 Dec 2011

Approval for high fees to be sought

12:05 pm on 21 December 2011

Sanford will next year ask shareholders to approve an increase of 24% in fees paid to directors.

It proposes to raise the directors fees pool by just over $107,000, to $550,000.

Sanford says its fees are significantly below the median and average levels.

Shareholders will be asked to approve the increase at the company's annual meeting in January.

The board's fees pool was last increased in February 2008.