30th Apr 2013 07:00
Rule 3.19A.1
Appendix 3X
CEO Remuneration Details
Initial Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/9/2001.
Name of entity: eServGlobal Limited |
ABN: 59 052 947 743 |
We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.
| Name of Director | Paolo Montessori |
Date of appointment | 30 April 2013 |
Part 1 - Director's relevant interests in securities of which the director is the registered holder
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
| Number & class of securities
1,250,000 Options
|
Part 2 - Director's relevant interests in securities of which the director is not the registered holder
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
| Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest.
| Number & class of Securities
Nil
|
Part 3 - Director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
Detail of contract | Not Applicable |
Nature of interest
|
|
Name of registered holder (if issued securities)
|
|
No. and class of securities to which interest relates
|
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In accordance with ASX Listing Rule 3.1 disclosure requirements the CEO Remuneration package is as follows:
(effective 1 May 2013)
·; €300,000 annual gross basic salary (Base Salary of €250,000 plus housing allowance of €50,000)
·; Short-Term Incentive (STI) of €150,000, paid in proportion to the EBITDA performance of the Company against the budget for the full financial year. 100% of the STI is earned for achievement of budgeted EBITDA.
·; Long-Term Incentive provided under the Employee Share Option Plan, subject to shareholder approval.
·; Termination by either party on 30 days' notice. On termination the CEO is entitled to the greater of termination payments under UAE Federal Labour Law or 5 months' Base Salary.
Additional Benefits and Allowances
Note: The CEO is to be based in Dubai
·; One economy class family trip to Europe (and return) per year.
·; Actual cost of moving to Dubai (up to a maximum of $40,000).
·; €20,000 Health and Transportation allowance per annum.
·; Interest free advance up to €35,000 to assist in relocation costs, repayable by 31 October 2013.
Related Shares:
Wameja Di