Lighthouse Group has compensated the former executive chairman, David Hickey, £259,000 following his resignation from the post in August last year.
Hickey quit after shareholders voted against his proposal to delist the business from trading on AIM.
While the proposal to delist was unanimously supported by the board, many key shareholders, including Allan Rosengren, lobbied against the move.
The compensation figure was released in the report and financial statements for 2012.
Hickey received total emoluments for the year, including the £259,000, of £376,000.
A statement in the report said: "The ... £259,000 was paid in respect of the former executive chairman of the group in order to meet the group's contractual obligations in relation to his departure from the board."
As at 28 February this year, Hickey still owned 5.2 million shares in the company, 4% of the overall total.
This percentage is still considerably less than that owned by Allan Rosengren at 15.01% of the company (19.6 million). Rosengren is the largest single shareholder.
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