Commenting, Ashley Hamilton Claxton, head of responsible investment at Royal London Asset Management, said:
“We are concerned about the salary increases during 2018 and the level of the annual bonus award given that shareholders have suffered a significant fall in share price during the year. As such we are voting against the Remuneration Report.
“However, we note the company has made some improvements to the overall remuneration structure. For example, we are pleased that executives will be required to hold shares for two years after they vest. Therefore we are voting for the Remuneration Policy.”
Royal London Asset Management holds circa. £5.5m / 0.45% of the shares in Playtech.
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About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £130 billion of assets and employs 98 investment professionals as at end March 2019. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued July 2019 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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