The payment was disclosed in EOH's annual financial statements for the year ended 31 July 2024, which were published last week.
The ex gratia payment of R15-million represents almost 2.5 of the company's R644-million in interest-bearing bank loans as of the 2024 year-end on 31 July 2024.
Much of Van Coller's time at EOH was focused on selling company assets to deal with a distressed balance sheet that threatened to drag the business down.
The payment also comes amid unhappiness among EOH shareholders about the company's remuneration policy.
At its AGM last year, EOH failed to secure the necessary 75 approval for the remuneration policy and a related implementation report. Barely 50 of shareholders voted in favour see table below.
