28th May 2021 09:52
(Alliance News) - Informa PLC faces a revolt by major shareholders over bonus payments at its annual general meeting on Thursday next week, the Financial Times reported Friday.
The London-based business information publisher and events organiser is being criticised for a target-free incentive scheme and a lack of investor engagement, the newspaper said.
Investor advisers Institutional Shareholder Services and Glass Lewis have recommended votes against Informa's pay report and the re-election of Stephen Davidson, chair of its remuneration committee, at the June 3 meeting.
Legal & General Investment Management said it will vote against the remuneration report and all three members of the remuneration committee, the FT reported, while another top-20 shareholder is "likely to vote against" the pay report.
https://www.ft.com/content/bcd4b8ed-f2af-40d5-b757-28c6dc2c4f06
In 2020, Informa swung to a pretax loss of GBP1.14 billion from a profit of GBP318.7 million in 2019, as revenue slumped 43% to GBP1.66 billion from GBP2.89 billion. It paid no dividend for 2020, having withdrawn its 2019 final dividend.
Informa shares were up 0.9% at 545.90 pence in London early Friday, outpacing the wider FTSE 100 index, which was up 0.3%.
By Tom Waite; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Informa