NAPF highlights repeat offenders on remuneration

first_imgThe National Association of Pension Funds has named eight companies that have failed to take seriously shareholder concerns on pay.While acknowledging that the “flash points” belied a downward trend in resistance to remuneration policies, the organsation’s corporate governance policy lead, Will Pomroy, said the “significant shareholder dissent” did not reflect well.Compared with 28 FTSE 350 companies that last year saw “significant concerns” expressed about pay, by mid-August, eight companies – including budget airline easyJet, First Group and Lonmin – had investors once again complaining.The NAPF said companies with successive years of dissent were those that in 2013 saw pay votes rejected by at least 15% of shareholders and a further 20% this year. Other named companies included Ocado Group, Ophir Energy, SVG Capital, Mitie Group and Capital & Counties Properties.First, which has several contracts to maintain public transport in UK cities, was criticised for the high level of executive pay when compared against peers in the sector, as well as “inappropriate and un-stretching metrics”.Pomroy added: “We urge all those firms whose shareholders have so clearly signalled their dissatisfaction this year to begin in earnest a conversation to resolve the concerns well ahead of next year’s AGM season.”Under new UK regulation, remuneration votes are split in two – with a policy report drawn up by the company and put to a vote every three years, while pay is put to binding votes and each AGM.“We are glad to see greater transparency and hope more companies next year use their reporting to communicate better with their investors, as opposed to simply complying with the regulations,” Pomroy said.New requirements for auditors to discuss in greater detail the process for companies were also welcomed, with Pomroy saying they had achieved “the almost impossible task of keeping both investors and companies happy”.last_img read more

Lagos Gov’s Cup, Now on Global Tennis Map, Says Akinyelure

first_imgThis year’s Governor’s Cup Lagos Tennis Championship holds from 6-21 October at the Lagos Lawn Tennis Club, Onikan.According to Akinyelure, the LOC in conjunction with the Nigeria Tennis Federation (NTF), the technical owner of the event, have record to show for the claims.“Entries, particularly foreign entries have been unusually high this year. The reason is not unconnected with the facts that the competition has become a household names in the world today.Of the 73 Futures tournaments in the whole world this month of October, 2017, only two in America, two in Italy, one in Spain, Sweden, France and Kazakhstan match the $100,000 prize money of the Governor’s Cup. Even those Futures just mentioned do not have hospitality thrown in as a bonus as we have with Governor’s Cup, ” Akinyelure explained.However, we have started exploring new avenues of funding, such as bookings and tickets sale for matches., media rights for live broadcast on Radio, Television, Cable, merchandising and franchise rights for a plethora of souvenirs and commercial branding of events and facilities. These measures are in line with global best practices in the organisation of Sports of this nature and calibre. “The tickets for the Governor’s Cup are available on the platforms of Ariya Tickets and Naija Tickets Shop. The tickets come in different categories. While Category 1 regular ticket goes for N1,500 each, the VIP category goes for N5,000 each.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The organisers of the Governor’s Cup Lagos Tennis Championship have said that they have raised the bar of the pro circuit competition to the level that it has become a household name in the world of tennis.Chairman of the Local Organising Committee (LOC), Chief Pius Akinyelure said at a media conference to herald the 17th edition of the International Tennis Federation (ITF) approved competition in Lagos that the Governor’s Cup standard has been raised to the level that it has become the most sought after Futures tournament in world tennis circles.last_img read more