16th May 2005 16:45
For immediate release 16 May 2005 United Business Media: Statement on Bonus Payment Clive Hollick, former CEO UBM, has today issued the following statement:"I would like to thank the board of UBM for the bonus they awarded me for asuccessful handover and for significantly increasing shareholder value duringthe six-month transition period."The majority of shareholders have however now expressed their disapproval ofthe bonus and I have accordingly asked the company not to pay it."The company has agreed not to pay it."UBM has today said:"The Board notes that following the majority vote against the RemunerationReport at the 2005 AGM and in light of discussions with non-executivedirectors, Clive Hollick has decided to waive his ‚£250,000 special bonus. GeoffUnwin, Chairman of United Business Media said "Both institutional andindividual investors expressed trenchant views on this matter last week. TheBoard has committed not to make exceptional bonus payments of this particulartype in future and Clive has decided to waive the bonus to which he is legallyentitled. While the results of the vote stands, both the company and theindividual have recognised the views of shareholders. The Board welcomesClive's decision."For further information, please contact:Colin Browne The Maitland Consultancy 020 7379 5151(m) 07733 103 800Notes to Editors:United Business Media plc (http://www.unitedbusinessmedia.com) is a leadingprovider of business information services to the technology, healthcare, media,automotive, financial services and property industries. UBM offers services innews distribution, publishing and events to customers across the globe. Itsbrands include PR Newswire, the world's leading corporate news distributionservice and CMP, the B2B media and exhibition group operating in high tech,healthcare, property, entertainment, jewellery & fashion in the US, UK, Asiaand Europe.This press release includes statements which are not historical facts and areconsidered "forward-looking" within the meaning of Section 27 of the SecuritiesAct of 1933, as amended. These forward-looking statements reflect UBM's currentviews about future events, business and growth strategy and financialperformance. These forward-looking statements are identified by their use ofterms and phrases such as "believe," "expect," "plan," "anticipate," "ontarget" and similar expressions identifying forward-looking statements.Investors should not rely on forward-looking statements because they aresubject to a variety of risks, uncertainties and other factors that could causeactual results to differ materially from UBM's expectations. UBM expressly doesnot undertake any duty to update forward-looking statements. Management doesnot attempt to update forecasts unless conditions materially change.ENDUNITED BUSINESS MEDIA PLCRelated Shares:
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