Good morning folks,
in today’s news, IQE (LON:IQE) has promised to adjust its remuneration policy next year after 42.9% of shareholders voted against it at this year’s AGM. More on this to follow.
Elsewhere, there is a holdings RNS from Tandem (LON:TND) (in which I have a long position). Jupiter has been reducing its 10% stake – I wonder is this for fundamental reasons?
Due to a lack of news flow, I can cover other topics for you – any requests? A roundup of Tesla might be fun, after the stock reached the fabled $420 level yesterday.
Timings: I will wrap this up at 12.30-13.00, as the market closes. Finished at 13.00.
IQE (LON:IQE)
Share price: 45.46p (-3%)No. of shares: 793 millionMarket cap: £360 millionAGM LTIP resolution voting and proposed actions
LTIPs (“long-term incentive plans”) are considered to be perfectly standard devices and respectable consultants are available to advise companies on how to structure them. But I think it’s difficult to find any, in real life, which are structured well.
And since remuneration is a very boring topic, few investors give it much thought. So we miss out…
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