OCTG inspection repair and storage - Medserv Energy
total tubular management - Medserv Energy
Remuneration Policy
 
Board of Directors
 
The Board is composed of Executive and Non-Executive Directors. The Board determines the framework of the remuneration policy for the members of the Board as a whole, based on the recommendations from the Remuneration Committee. The maximum annual aggregate emoluments that may be paid to the directors is approved by the shareholders in General Meeting. The Board may approve changes to the fees within the aggregate amount approved by Shareholders at the Annual General Meeting. The total fees paid to directors (in their role as director) is entirely represented by a fixed remuneration. Directors’ emoluments are designed to reflect the directors’ knowledge of the business and time committed as directors to the Company’s affairs. It is confirmed that none of the Directors in their capacity as Directors of the Company are entitled to profit sharing, share options, pension benefits, variable remuneration or any other remuneration or related payments from the Company.
 
Senior Executives
 
The Board determines the framework of the overall remuneration policy and individual remuneration arrangements for its senior executives based on the recommendations from the Remuneration Committee. The Committee considers that these remuneration packages, inclusive of a variable and non-variable payment, reflect market conditions and are designed to attract appropriate quality executives to ensure the efficient management of the Company. The payment of a variable remuneration has become increasingly important in attracting and maintaining quality staff. The terms and conditions of employment of each individual within the executive team are set out in their respective contracts of employment with the Company. The vast majority of the contracts of employment are made on an indefinite basis however there are a number of such contracts entered into on a definite fixed term basis due to the nature of the job in question.
 
The Company’s senior executives may be paid a bonus by the Company – other than the bonus paid to the CEO, the payment and extent of payment of all bonuses paid to senior executives is entirely at the discretion of the Board, is subject to the recommendation of the Committee and is based upon the performance of the individual determined in terms of both objective as well as subjective criteria. The Chief Executive Officer of the Company is entitled to a performance bonus calculated by reference to the Company’s earnings over a specified threshold. Moreover, share options are currently not part of the Company’s remuneration policy. Specific criteria for determining the extent of senior executive’s entitlement to a bonus will be formulated by the Remuneration Committee in due course.
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31 May 2020
Medserv reports a very positive 2019 and expects to resume growth in 2021
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20 Dec 2016
Medserv Plc has been named as the 2016 Malta Stock Exchange Company of the Year.
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02 Feb 2016
Dual Issue Closes Successfully
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08 Oct 2015
Medserv to invest US$46 million in Middle East expansion drive
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27 Aug 2015
Medserv Reports Strongs Results
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23 Mar 2015
Medserv plc's financial results exceed targets
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28 Jan 2015
Mr Gerasimos Caramondanis, Board Member of Medserv (Cyprus) Ltd wins lifetime achievement award from `In Business Awards`.
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19 Nov 2014
Medserv plc’s interim statement highlights the importance of Malta’s role in supporting Libyan operations
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07 Nov 2014
Medserv plc support Puttinu’s latest project
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28 Aug 2014
Charles L Daly is appointed Director on the Medserv plc board
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02 Jul 2014
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08 Apr 2014
€20 Million Secured and Guaranteed Note Issuance Programme. Series 1-Tranche 2
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28 Mar 2014
Medserv Group issue Financial Statements
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