Since UKSA’s policy team first questioned this scheme, further work has been done and a detailed analysis can be found in the members’ section of this website. This shows just what an extraordinary scheme this is and a mystery why the major shareholders supported it.
Although the scheme has been adopted, UKSA believes that wider interests are affected and for this reason the matter should be pursued. As a first step, a letter has been sent to Nicholas Wrigley, Persimmon chairman, seeking answers to six key questions. This letter can also be found in the members’ section of this website under /Members Area / Policy Group Blog.
So, if the way in which business managers extract value from the companies in which you invest matters to you, watch this space! Better still, join UKSA to support our efforts to achieve better corporate governance and accountability to all shareholders, individual as well as institutional.
Here is the Persimmon proposal in full.