David assails the salaries of Sunday directors higher than that in prospectus

Independent web commentator David Webb assailed the directors of the mobile phones company Sunday (0866) on his own website over their unreasonable high salaries. According to the freshly released annual report of Sunday in 2000, the highest salary of the directors reached HK$37.319 mln, increasing by almost 3 times (297%) vs 1999. The director, who gained the highest salary acquired about HK$29 mln to HK$29.5 mln, surging by 2.5 times compared with 1999. David Webb said Sunday indicated in the prospectus it would use HK$16 mln as the salary, but at last there was HK$21 mln overspent. The Salary Committee of the board meeting should explain it to the shareholders, especially the those who subscribed the companyˇ¦s new shares at a high price of HK$3.78, added David.

Related stock : (866)