- LBT Innovations (LBT) has outlined a new board policy for its Non-Executive Directors
- Under the new policy, directors will apply a salary sacrifice of 25 per cent to purchase new LBT shares
- The policy will be in place until each Non-Executive Director has invested an amount equal to a full year’s gross directors’ fee
- Thats said, the policy is still subject to shareholder approval
- On market close for the weekend, LBT is up 7.14 per cent and is trading at 10.5 cents per share
LBT Innovations (LBT) has outlined a new board policy for its Non-Executive Directors.
Under the new policy, directors will apply a salary sacrifice of 25 per cent to purchase new LBT shares.
The LBT Board knows the importance of having directors invested in the future performance of the company, which is why the new board policy has been put in place.
LBT believes the new policy will represent an ongoing commitment from all Non-Executive Directors.
The policy will be in place until each Non-Executive Director has invested an amount equal to a full year’s gross directors’ fee.
However, the policy is subject to shareholder approval. If approved, new LBT shares will be issued within one month of the annual general meeting.
“This new board policy sets a commitment to ensure all directors invest in, and support, the future of LBT Innovations,” Chairman Kate Costello said.
“This is a positive indication of the long term potential the board see in the company and builds alignment between the LBT Board and feedback received from LBT shareholders,” he added.
On market close for the weekend, LBT is up 7.14 per cent and is trading at 10.5 cents per share.