Aminex cuts its chief's pay

Exploration group Aminex cut chief executive Brian Hall's pay by 1 per cent to $293,897 (€229,316) last year after losses widened at the company.

Mr Hall, chief executive of Aminex for a decade, earned $273,104 in basic salary last year and $20,793 from benefits in kind, the company's annual report shows.

His pension, however, climbed 3 per cent to $66,240.

Including Mr Hall, Aminex's four executive directors share remuneration of $822,626, fractionally down on the $824,742 paid in 2004.

Pension contributions were slightly ahead of 2004 but there was no repeat of $136,715 in share-based payments.

Fees for the three non-executive directors were unchanged at $90,000 in total and there were no additional share-based payments, which amounted to $15,191 in 2004.

Revenue at Aminex declined in 2005 after it sold an oil field and a gas production facility was put out of commission as a result of a fire.