Corporate Remuneration Reports Archives

This page offers in-depth analysis of executive remuneration at a range of public companies. Our detailed reports are only available to logged in full members of ShareSoc. If you are not a full (subscribing) member, you can subscribe here. If you are a full member and are having difficulty accessing these reports, please contact our office.

LLOYDS BANK Remuneration Report

Attached is a copy of the Minerva report on Lloyds, which is rated a D on the scale A(excellent) to F (Flipping Awful). LloydsBankingGroupplc-2

Post Date: May 13, 2019 Read more

Persimmon Remuneration Report

Minerva also give a D to Persimmon MinervaPersimmonplc.pdf Overall assessment: Total remuneration is considered to be positioned above expectations given the Company’s size and scale, its sector and its performance. The remuneration package is excessively weighted towards performance-pay.

Post Date: April 24, 2019 Read more

Aviva AGM Remuneration Issues

AGMs are very useful. They enable investors to monitor what management is doing. I recommend Shareholders attend AGMs and give notice beforehand of questions they plan to ask. A politely asked question, when given advance notice will usually produce a much better response, in my experience, than an aggressive one shouted from the floor. If the company knows you will be there they usually do their best to answer your question. And you can always follow up afterwards or before the ...

Post Date: May 9, 2018 Read more

Chrysalis VCT Remuneration Report

Chrysalis VCT - a good story - NEDs own lots of shares My wife owns shares in Chrysalis and just received the annual report, which I read. Chrysalis (market cap £18m, discount to net assets of 25%), pays an excellent dividend of 8p a share (2017) on the current share price of 60p. 10 year return is 137% which vastly exceeded the index - Morningstar VCT Generalist Post-Qualifying of 23.46%. It is good to see the NEDs themselves own lots of shares Martin Knight, ...

Post Date: January 24, 2018 Read more

Comments on the remuneration 4 companies 2017

Attached are comments on the remuneration of the 4 companies who presented at the ShareSoc Investor Seminar on 8 November in London. Trinity Exploration and Production N4 Pharma IdeaGen LoopUp Attachments: Remunerationof8NovEventcosTrinityN4PharmaLoopUpandIdeaGen

Post Date: November 9, 2017 Read more

RBS new Remuneration Policy 2017

I have written the following article which has been published in Executive Compensation Briefing Magazine. I could not resist giving RBS some muted praise for getting 96% approval for their new LTIP, whilst criticising them for their wimpish implementation, which just adds more complexity. DRR of the Month - Royal Bank of Scotland This month ECB editorial board member Cliff Weight comments on the new LTIP at RBS, previously reviewed in the March ECB . The new RBS LTIP is epoch-making. The RBS approach ...

Post Date: May 17, 2017 Read more

BP Remuneration Report 2017

BP 2017 AGM Recommendation. Shareholders are advised to vote against the remuneration report and the new Policy at this company. BP - The Manifest report is attached. BP is graded E for Remuneration (on A to F scale!), which is pretty bad. Manifest reasons were: Report - Issues: No clearly identifiable link is noted between the performance measures used in the incentive pay elements and the key performance indicators identified in the business review. The level of the upper bonus cap for certain ...

Post Date: May 16, 2017 Read more

Persimmon Remuneration Report 2017

Persimmon Voting Recommendations ShareSoc is opposed to the Remuneration Policy of Persimmon Plc. We therefore recommend VOTING AGAINST the Persimmon AGM resolutions as follows: Remuneration Policy (Resolution No. 2), Remuneration Report (No. 3), Remuneration Committee Chair Jonathan Davie (No. 8) and the 2017 Performance Share Plan (No. 14). How can the Remuneration Report almost completely ignore the existing LTIP awards? There is no mention of the £100 million share scheme for Persimmon CEO Fairburn in the new remuneration policy, other than to say ...

Post Date: March 31, 2017 Read more

Rolls-Royce Remuneration Report 2017

Pay Revolts and Rolls-Royce Voting Recommendations According to a number of press reports we seem to be heading into the AGM season with another year of pay revolts. There are also rumours that Mrs May is to proceed with introducing annual pay votes. Chris Cummings, CEO of the Investment Association, writing for the Guardian said "Too many people still feel they are not sharing this country's prosperity. Companies can either act responsibly now and shape a more responsible 21st-century corporate Britain or they ...

Post Date: March 22, 2017 Read more

Connect Remuneration Report 2017

(2017 AGM) Attached is the Manifest Report. Manifest Executive Remuneration Assessment grade 'C’ (on scale A =good to F=awful) Resolution 2 Report: The bonus cap has been set a high level at 150% of salary. Salary rates for the forthcoming year have not been provided. Company Law states that performance targets must be disclosed unless the Company considers the targets to be commercial sensitive; however, the Company has provided no explanation for the non-disclosure under the bonus scheme for future targets. Manifest has ...

Post Date: January 25, 2017 Read more

Group description:	This group is open to all levels of investor and is particularly popular because it meets after working hours in central London. The meeting usually has a presentation or group discussion on aspects of investing and also runs a Buys & Sells session which gives everyone the chance to see what the other group members are buying or selling and why.
Meeting Type/Venue:	The venue is near Victoria Station in a pub where the group also enjoy a meal from a typical pub menu.
Meeting Frequency/Timing:	This group meets in the evening in London. It is a face to face group that meets every third Tuesday in the month from 6.30pm to 9pm.

Group description:	This group is for those interested in investing in the USA. It is open to all investors with a special interest in this area and all levels of experience are welcome. A typical meeting will have a discussion on a particular market issue or a presentation by a member or external speaker on a subject of interest to the group. All members are expected to play a part in presenting and to take an active role in making the group of value to all its members.
Meeting Type/Venue:	As a specialist group with a wide geographic spread of members, our meetings are held on zoom.
Meeting Frequency/Timing:	Meetings are monthly and are held on the third Tuesday in the month from 11-12.30PM.

Group description:	This group was set up as a forum to discuss companies in detail, each company is introduced by a member and discussion may last one or two hours. Membership is by invitation only.
Meeting Type/Venue:	The group meets at a venue in Waterloo, London.
Meeting Frequency/Timing:	Meetings are from 11.00 until 16.30 and at two month intervals.

Group description:	This group was set up as a forum to discuss companies in detail, each company is introduced by a member and discussion may last one or two hours. Membership is by invitation only.
Meeting Type/Venue:	The group meets at a venue in Waterloo, London.
Meeting Frequency/Timing:	Meetings are from 11.00 until 16.30 and at two month intervals.

Group description:	Group focused on active investing, primarily in small / medium cap UK equities.
Meeting Type/Venue:	Zoom.
Meeting Frequency/Timing:	Monthly on Saturdays at 10am.

Group description:	We hold monthly in-person meetings with possible exceptions in August and December. Discussions are generally on the topic of investment strategy and potential companies of interest. Each member is expected to make an investment-related presentation approximately once a year.
Meeting Type/Venue:	We meet in a private room at a pub around 7 miles SW of Oxford. We usually each order a dish from the pub menu that is served during the meeting.
Meeting Frequency/Timing:	Meetings are in-person, monthly on the 4th Tuesday of the month at 7pm. Typical meetings last 2 to 2.5 hours.

Group description:	Our group is a broad church that contains investors of varying age and experience. We discuss stocks and investment trusts that we have bought, sold or are interested in and the reasons behind our decisions, and try to make sense of the ever changing investment environment. Our members backgrounds are diverse and include corporate banking, engineering, teaching and the leisure industry. Discussions are robust and challenging but tend to be to be informal, and do not generally involve agendas, presentations or detailed preparation.
Meeting Type/Venue:	Our meetings are held on Zoom, although we are all based around London so try to meet centrally for lunch from time to time.
Meeting Frequency/Timing:	We meet every 2 months, generally midweek at 10.30am.

Group description:	We are a relatively small group, but have a wide range of interests so always start every meeting with a discussion about world issues and the “investing environment” generally. We always discuss individual members market activity and any interesting opportunities on their watchlists. There is currently a lot of expertise in the small cap value area of the market within the group.
Meeting Type/Venue:	Our preference is for a physical meeting and a hotel in Meriden (Coventry) is the usual location, but we do have on-line meetings when weather and/or health issues make that the most suitable option. We rotate the chair and this is agreed at the previous meeting.
Meeting Frequency/Timing:	Our preference is to meet every 4 weeks on a Thursday evening, but the exact details are agreed at the previous meeting.

Group description:	The Options group has been meeting monthly for some 20+ years and new members who are either trading or interested in trading options are always welcome. Our members trade options predominately on both UK and USA shares, indices, currencies and commodities.
Meeting Type/Venue:	Prior to Covid all monthly meetings were at a west London golf club, close to an underground station, where we had a one course lunch prior to our meetings in a private room. Since Covid all meetings have been via video and some new members have joined who are too far from west London to meet face to face. However, it is intended that future meetings will be both in person and via video link.
Meeting Frequency/Timing:	Meetings are monthly, on the 4th Wednesday of each month, normally from 12:30 to 2:30 and sometimes run over.