Informa - EGM 18 December 2020
The Board seeks shareholder approval of the new remuneration policy and new long-term incentive plan. The LTI is replaced by a restricted share grant for employees, including the top managers and executives, which we do not consider appropriate even in the current unpredictable situation. The Company failed to convince us and provide sustainable strategic reasons for implementing a new policy and LTIP. We support the British Investment Association which writes that the inability to set meaningful performance targets is not a reason in itself to move to a restricted share model.
ECGS opposes restricted share grants to executive directors. We also have serious concerns about the probable windfall gain encouraged by the presented plan rules. Finally, a restricted share award of 200% of salary is simply excessive.
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