Rebel Investors Fail to Derail Playtech’s Bonus 온카지노 Scheme for Boss Mor Weizer

온카지노 proposed bonus scheme that could award shares worth more than £30 million to the gambling technology giant’s boss, Mor Weizer, survived a shareholder vote on Thursday.

However, a big group of the company’s investors still opposed the policy in another indication that Playtech is not in the best place in terms of trust in its corporate governance.

At a shareholder meeting that took place Thursday, 54.76% of the company’s shareholders voted in favor of its new bonus scheme, while 45.24% cast a negative vote.
The new bonus policy provides for a nil cost option award of 1.9 million shares. It will pay out if Playtech reaches certain share performance goals over the next five years.

The award will be handed in tranches if the company’s stock price maintains the required levels for a 30-day period. The first tranche will be triggered if Playtech’s shares return to above 600p, their value before a 온카지노 series of profit warnings over the past two and a half years.

The second tranche will be realised if shares go beyond 700p, and the third tranche will be triggered if stock price hits the 800p mark. The bonus award is capped at £16, which means that if the company maintains a price of over 800p for at least a month, Mr. Weizer will get £30.4 million in company stock.

Largest Shareholder Backs New Bonus 붐카지노 Scheme
Playtech’s largest investor, Setanta Asset Management, voted in favor of the company’s proposed bonus policy during the Thursday shareholder meeting.

Fergal Sarsfield of the Dublin-based investment management firm said that they were pleased the long-term incentive package was approved and that “alignment of interest between management and shareholders is something we encourage and value highly. Importantly the package is designed to reward only exceptional long-term performance and the high performance hurdles are representative of the confidence management and shareholders have in the long-term growth potential of Playtech.”

While more than half of Playtech’s shareholders backed its bonus policy, there were also many investors that opposed the plan. Prior the Thursday vote, Royal London Asset Management, which holds a 0.5% stake in Playtech, said that it would vote against the scheme because it “offers significant sums to the Oncasino CEO for meeting share price targets below where Playtech’s shares trade ahead of their profit warning in July last year.”

In May, Playtech suffered a shareholder revolt as 41.8% of its investors voted against its latest remuneration report and 40.9% voted against its remuneration policy during the company’s Annual General Meeting.

It could be said that the Thursday vote shows diminishing confidence in the company’s corporate policies relating to its CEO’s pay. A plan to grant Mr Weizer a share award was voted down by investors in 2017.