Contact chairman Phil Pryke said over 95% of shareholders at the annual general meeting voted to re-elect the three directors and increase a raft of their entitlements, including cheap directors' loans

Non-EME affiliated directors' base remuneration now increases from NZ$45,000 to NZ$60,000 in fees and NZ$30,000 in restricted shares. Pryke receives NZ$120,000 in fees and NZ$60,000 in restricted shares.

Last year international advisory firm John V. Egan Associates determined the remuneration of Contact directors was well below the market norm for similar New Zealand and Australia companies.

Last Tuesday Edgell reassured shareholders that there would be no fire-sale of cash-strapped EME's international assets. He said EME was not a "distressed seller" and would not quit Contact at a price that did not reflect its full value.