Report
Expert Corporate Governance Service (ECGS)
EUR 500.00 For Business Accounts Only

British Land Co, 19 July 2019

Item 2: Approve the Remuneration ReportThe structure is unsatisfactory as the use of qualitative criteria exceeds guidelines and the pension is excessive. Qualitative criteria slightly exceeds ECGS guidelines. There is no disclosure of targets of the metrics for the STI and a bonus was paid though the Company made a loss for the year. A recruitment award was paid during the year. We recommend shareholders oppose.

Item 3: Approve the Remuneration PolicyGiven that the pension contribution will be reduced to within ECGS guidelines, the main concern at the Company is the use of qualitative criteria for the bonus and the lack of disclosure of performance targets. However, the qualitative criteria used are well described. In addition, the actual performance and the percentage payout are disclosed and the level of disclosure is not the most relevant factor in assessing the remuneration policy (it is taken into consideration on the remuneration report. Please see the previous item.) As there are no major concerns with the policy itself, we recommend shareholders vote in favor.  

Underlying
British Land Co. PLC

British Land Company is a real estate investment trust. Co. is a U.K. commercial property company focused on retail and London offices. Co.'s Retail portfolio is focused on a network of multi-let Regional and Local centers, reflecting modern consumer lifestyles. Co. provides retail and leisure with services meeting a range of consumer needs. Co. provides places to shop, eat and be entertained. Co.'s Offices portfolio is focused on its London campuses which also include a mix of retail, leisure and residential.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.

As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

Analysts
Expert Corporate Governance Service (ECGS)

Other Reports on these Companies
Other Reports from Proxinvest
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch