Been having discussions on CEO's salaries on another thread (CDY). It is very topical at the moment and a few posters are of the opinion that the pay rates, particularly of CEO's, are a bit excessive. I would just point out that, at the AVR AGM the vote against adopting the remuneration report totaled 70,367 which represents 1.19% of total shares on issue. The percentage would be higher if we exclude the holdings of the BOD and senior staff who are precluded from voting on this item. However it could hardly be considered a revolt against the pay levels and the BOD could assume that the majority of shareholders are accepting of the remuneration levels. It would seem from the number of votes cast that a lot of shareholders do not take an interest in formal matters.
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