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Schmidt stands to collect $301K in incentive payment

The Yancoal board said it recommended shareholders vote in favour of approving the payment.

Lou Caruana
Former Yancoal CEO Reinhold Schmidt, who resigned from the company on March 8, will know on July 31 if shareholders approve a $301,194 payment to him.

Former Yancoal CEO Reinhold Schmidt, who resigned from the company on March 8, will know on July 31 if shareholders approve a $301,194 payment to him.

Shareholders' approval is sought for the purpose of section 200E of the Corporations Act to allow the company to pay Schmidt in accordance with the Yancoal Australia Equity Incentive Plan (STIP). "If...

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