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Trinidad oil and gas producer Columbus Energy Resources said its executives would receive their management fees completely in cash.
For the past two years, the company had paid executives half in cash and half in shares to manage its cash holding and align managements' interests to shareholders' interests.
'As we head into the third year, it's appropriate for the executive management to return to receiving 100% of their fees in cash,' director Michael Douglas said.
'This will have the benefit to shareholders of limiting the total number of shares in issuance.'
'The executive management intends to continue to invest in the company using all or part of the salary currently allocated for the executive salary scheme, through the purchase of shares in the secondary market, which obviously benefits all shareholders.'
At 2:44pm: (LON:CERP) Columbus Energy Resources Plc Ord 0.05p share price was +0.18p at 4.48p