Bellway loses AGM vote on director bonus scheme
The company came under fire after investor group ABI published a alert which signals serious canada goose uk outlet concerns with a company behaviour, Canada Goose Jackets on Jan. 4 over plans to award directors canada goose clearance sale large Canada Goose Coats On Sale bonuses at a time when lack of credit and rising unemployment had resulted in a slumping property market.The housebuilder repeated canada goose store on uk canada goose outlet Friday that net reservation rates are still around 50 percent below last year levels and cancellations continue at historically high levels of around 24 percent.Its annual report shows chief executive John Watson was paid canada goose uk shop a cheap Canada Goose total of officialcanadagoosesoutlet 825,000 pounds ($1.23 million) canadian goose jacket for 2008, including canada goose black friday sale a homesite bonus canada goose clearance of 275,000 pounds, while two other Canada Goose Online executive directors, Peter Stoker and Alistair Leitch, each received bonuses of 178,750 pounds.The ABI welcomed the result on Friday.is uk canada goose a very clear message that there must be a proper link between reward and performance, even Canada Goose Outlet in a sharp economic downturn, said Peter Montagnon, director of investment affairs at ABI.He added: expect all companies to be sensitive to the need for bonuses to be paid only if stretching targets are metBellway on Friday issued a statement immediately after its annual meeting saying that it will review directors pay in Canada Goose sale consultation with shareholders in the coming months, without detailing that it had lost the vote.board has canada goose noted shareholders views on buy canada goose jacket cheap the Report of the Board on Directors Remuneration and believes it was wrong in not consulting with major shareholders earlier, Chairman Howard Dawe said in a statement.Newcastle based Bellway added on Friday that the housing market remains weak despite the Canada Goose Parka Bank of England lending rate falling dramatically.date, we have seen no clear evidence of this reduction having halted the canada goose factory sale negative momentum in consumer confidence, particularly, in relation to the housing market, Dawe said.Dawe also confirmed that the company is operating within its banking facilities, which were renegotiated last year.The volumes of homes Canada Goose online being sold remains a key issue for housebuilders. New data this week from The cheap canada goose uk Royal Institute of canada goose uk black friday Chartered Surveyors showed the average estate agent sold 10.1 properties canada goose coats from October canada goose coats on sale to December, the lowest figure since the survey began in 1978.Shares in Bellway were 0.63 pct lower at 554 pence at 15:38 GMT. buy canada goose jacket (Reporting by Lorraine Turner; Editing by Rosalba O and Rupert Winchester).