Life Healthcare remuneration policy questioned again
| Edward West
LIFE HEALTHCARE Group said yesterday that it had invited shareholders to engage with it on its remuneration policy, after shareholders holding more than 25% of the shares voted against the policy at the last annual meeting in January. The group’s annual report shows that, at the previous year’s AGM, only 62.1% of shareholders voted in favour of the remuneration report due to concerns about using normalised group headline earnings per share as the sole measure for the long-term incentive allocation, why the long-term incentive target of consumer price inflation +4% was seen as a hurdle, and the reduction of a Life Core Purpose target for the group executive. The group said yesterday that at this year’s meeting Ordinary Resolutions 5.1 and 5.2 relating to the non-binding advisory votes to endorse the company’s remuneration policy and the implementation were voted against by more than 25% of the votes exercised by shareholders at the AGM. Shareholders were invited to engage on the matter via a telephone conference on May 31, and were also asked to forward concerns and questions on the implementation of the remuneration policy to the company secretary in writing by May 26.
African News Agency