THE decision of the board of Bord na Mona to meet again next Tuesday prolongs a saga which started when Mr Pat Dineen was appointed chairman last September.

Ironically Mr Dineen might have been appointed to either Bord na Mona or the Trade Board but soon after he took over at the turf company he began to examine the remuneration package of the managing director, Dr Eddie O'Connor.

Now in possession of the final draft report from accountants Price Waterhouse, covering Dr O'Connor's full term at the company, the board decided to adjourn again yesterday to give the managing director time to meet the accountants and clarify points with them.

The meeting in Newbridge started at 10 a.m. One director sent his apologies - Mr PJ Minogue was on holidays. A Bord na Mona source said: "The normal board meeting is on the last Thursday of the month and PJ had booked his holidays so as to be back in good time for it."

Directors were given an executive summary of the Price Waterhouse report which was presented to the meeting in "final draft form".

Two executives from Price Waterhouse attended for part of the meeting. They made a presentation on the draft report for about an hour, concentrating on headlines rather than detailed items.

Then the PW executives answered directors' questions. Dr O'Connor was present throughout. It is understood that directors did not want to be given the detailed information until Dr O'Connor had a chance to comment.

Board sources said the presentation of a only a draft report "inhibited discussion". Earlier this week the Price Waterhouse executives had been unable to get the comments of Dr O'Connor, according to Mr Dineen.

The final report is expected to be presented at next week's meeting. But one director said yesterday: "It is still a question of when PW will be ready, to give us a full and final report."

There was no discussion yesterday of Dr O'Connor's position with the company, or of the role of former chairman Mr Brendan Halligan in relation to Dr O'Connor's remuneration package.

It appears that whatever agreement existed between Mr Halligan and Dr O'Connor was verbal rather than written. Mr Halligan has consistently declined to comment on the issue and was unavailable yesterday.

Mr Dineen has yet to speak to Mr Halligan about the issue. He said yesterday-he did not feel it was appropriate to do so until he got the full report.

Some board sources said they were not surprised" by what they heard yesterday. "More of the same" was how one director described the details of remuneration and expenses received by. Dr O'Connor in his earlier years as managing director.

But other directors said they were surprised by the presentation.

A previous report by the accountants showed that Dr O'Connor received £141,000 in expenses during the three years to last March. Of that amount £39,900 was paid without any receipts being produced.

His overall package came to £150,000 to £200,000 a year, well above the guidelines set by the Government for the pay of the Bord na Mona managing director.

The adjournment of the meeting until Tuesday was aimed at giving Dr O'Connor time to consider the details in the draft report and to reply to or comment on them.

"He has to be given a fair chance to answer," one director said. Other directors said last night that they too needed time to consider the report which they only saw for the first time at the meeting yesterday.

Yesterday's meeting also dealt with the board's normal monthly business.

It is already clear that some members of the board are unsettled by details of the remuneration package. Following receipt of the first report, three directors asked for a meeting with the Minister, Mr Lowry, to explain that they were not aware of the details. However the meeting was not held.

The response of the full board to the second report remains to be seen. One important factor will be the position of other senior management, with sources suggesting that some were unhappy with reports in the media - subsequently denied - that the company unions were lobbying on Dr O'Connor's behalf.

The final decision on what to do may rest with the Minister and the Government, who are, after all, the main shareholder.