SA Post Office CEO Mark Barnes will be taking R2.3m less than initially proposed from financial services disruptor Purple Group in 2019. This comes after minority shareholders questioned the level of fees he was paid by the company, which owns investment vehicle Easy Equities and trading platform GT247.com. During the company's AGM, Purple revised Barnes’s fee for the 2019 financial year to R500,000, from the R2.86m that was proposed in the integrated annual report published in November, saying it was a mistake. Just over a week ago, some minority shareholders, including shareholder activist Theo Botha, questioned fees paid to Barnes on Twitter. In 2018, Barnes, who owns 20% of Purple, earned R2.7m in fees. This excluded a capital raising fee of R2m for concluding a R100m deal with Sanlam when the insurer bought 30% of Easy Equities. This R2m will be paid to Barnes in 2019. “It sets a bad precedent for SA to have a chairman who will benefit from concluding a deal [and] charge a fee ...

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