Just to be clear on your statement re: directors' fees. You may...

Just to be clear on your statement re: directors' fees. You may have meant what I'm about to say but the way you said it was a bit ambiguous.

They are not paying each of their non-exec directors $500k a year. Their aggregate amount paid to non-exec directors for 2016 was about $363k (check the 2016 annual report, page 9). This includes accounting/consultancy fees of $120k, so it seems to me that the aggregate amount they were paying their non-exec directors was less than the previously allowed maximum of $350k per year.

The resolution at the AGM was to increase the aggregate amount to $500k. I.e. this $500k split between the 6 non-exec directors.