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Prices & Quotes - UK Markets - 888 Holdings (888)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 302.80p
Change Today:
-4.60p
Market Cap:
1,128.71m
Sector:
Travel & Leisure

Investors revolt over 888 boss's potential 1.3m bonus

By Sean Farrell

Date: Thursday 20 May 2021

LONDON (ShareCast) - (Sharecast News) - Almost one-quarter of shareholder votes opposed 888's pay policy in a protest against a potential 1.3m annual bonus for Chief Executive John Mendelsohn.
The gaming company awarded Mendelsohn a 9% pay rise this year, taking his salary to 650,000, and increased his maximum annual bonus to 200% of salary from 150%. The company said it did so to reflect its bigger size and Mendelsohn's extra responsibilities.

In its annual report 888 said it had consulted shareholders and a small number remained opposed to the increase.

At its annual general meeting on Thursday 24.4% of votes opposed the remuneration policy. 888 said 69.1m votes were cast against the policy and a further 2.8m abstained. Under company law the company has six months to talk to shareholders again and report back.

"The board thanks shareholders for their support for the directors' remuneration policy and notes that approximately 24% of votes cast opposed the resolution," 888 said.

There was extensive engagement with shareholders in early 2021 ... Amendments were made to the proposals to reflect feedback and the board understood that while the majority of shareholders consulted were supportive, a minority had concerns about the proposed increase to annual bonus. The board will review and consider shareholder feedback received as it implements the new policy."

The revolt at 888 is the latest in a series of shareholder protests over pay at AGMs in 2021. Pendragon, the car dealer, received only 57.6% support for its pay report, which awarded CEO Mike Wright a big bonus after the company cut 1,800 jobs and accepted government financial support during the pandemic.



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888 Holdings Market Data

Currency UK Pounds
Price 302.80p
Change Today -4.60p
52 Week High 478.00p
52 Week Low 272.50p
Volume 936,268
Shares Issued 372.76m
Market Cap 1,128.71m
Beta 1.06

Performance Indicators

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

888 Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 16-Sep-21 25-Mar-21
Paid 13-Oct-21 24-May-21
Amount 4.50¢ 10.40¢

Trades for 03-Dec-2021

Time Volume / Share Price
16:35 249,339 @ 302.80p
16:29 106 @ 302.20p
16:29 22 @ 301.60p
16:29 829 @ 301.60p
16:29 41 @ 301.80p

888 Holdings Key Personnel

CEO Itai Pazner
CFO Yariv Dafna