Guaranteed incentives?

Article Abstract:

Some observers have expressed concern about the fact that British Land has chosen to measure performance under its long-term incentive plan for executive directors and staff in terms of the movement in its net asset value per share figure against the movement in the IPD index of capital values of commercial property. They feel that a property concern's net asset value cannot be compared effectively with an index of property values. Most significantly, the British Land portfolio would only need to perform better than the average when property values were rising at less than 3.5% a year.

Analysis

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British Land's share incentive plan slated

Article Abstract:

Shareholders in British Land are being requested by Pensions and Investment Research Consultants (PIRC) to express opposition to plans by the company to distribute free shares to directors in return for good long-term performance. PIRC believes that the goals established under the share incentive scheme are not sufficiently demanding, especially as they do not require directors to out-perform average capital growth in the property market. This criticism has been rejected by British Land.

Planning

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Hemingway duo face pay censure

Article Abstract:

Some shareholders in Hemingway Properties are putting pressure on the company to seek an alternative to the directors' bonus scheme which has just expired. Under this scheme, chief executive Michael Goldhill and finance director Andrew Browne received 1.4 million pounds sterling each. Institutional investors believe that the company should now set tougher performance measures. Hemingway has sent a draft of the revised scheme to shareholders.

Hemingway Properties

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