Oceana Gold is asking shareholders to consider an increase of more than 30% in the cap on annual fees paid to non-executive directors, up to $US1.3 million ($NZ1.92 million)
At a general and special meeting scheduled for June 9, shareholders will be asked to consider a resolution to approve a fee cap increase. It was last set at $A1 million in 2013.
In a statement to shareholders, the company said since the last fee cap was approved, Oceana's market capitalisation had risen from $A537 million to about $A2.86 billion.
The size of the board had recently increased from seven to eight, following the appointment of Dr Diane Garrett, after completion of the Romarco acquisition, the Haile development mine in South Carolina.
Oceana had "experienced transformational changes'' since the last fee rise, with the successful start of operations at the northern Philippine Didipio gold-copper mine, plus recent acquisitions of the Waihi gold mine in the central North Island and Haile from Romarco Minerals.
For the calendar year 2015, Oceana's top five executives received total remuneration of more than $US3.7 million
Chief executive Mick Wilkes received $US1.18 million, chief financial officer Mark Chamberlain $US576,000, chief operating officer Michael Holmes almost $US765,000, chief development officer Mark Cadzow $690,862 and head of corporate development Darren Klinck $US538,692.
