May 16, 2018

Playtech, Cineworld and Jupiter hit by shareholder revolts

Playtech, Cineworld and Jupiter suffered large shareholder rebellions on Wednesday as investors protested against big pay increases for the chief executives of the three companies. Gambling software maker Playtech became the second UK-listed company so far this year to lose a vote on its pay report, after almost 60 per cent of investors voted against it. Elsewhere, almost a fifth of investors in Jupiter, the London-listed asset manager, voted against the company's pay policy, while 20.3 per cent voted against the company's long-term incentive plan. The protest at Cineworld came after the company increased the level of potential bonuses and other long-term incentives for executives. Peter Reilly, director of corporate governance at advisory firm FTI Consulting, said of Playtech and Cineworld: "Investors continue to expect more from listed companies in terms of responsiveness to previous low levels of support, while expecting greater restraint than ever when remuneration committees are considering any increases to remuneration."

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