Homebuilder Simonds Group and its auditor have batted away criticism from external shareholder NEX Building Group over its decision to pay a director, the son of founder Gary Simonds, over half a million dollars for the use of his builder’s licence.
ASX-listed Simonds – controlled by its namesake founding family, which holds almost three-quarters of its shares – said the $541,667 it paid director Mark Simonds for his builder’s licence, in addition to nearly $290,000 in director’s fees, was justified.
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