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CINE - UK Cinema Chain


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I bought some of this at 60pence during summer.

Because of job loss I missed out in the 35p price.

Currently at 70p.

 

Recently the CEO put forward a scheme where if he got the stock price to go up he would get a massive bonus, which is good for share price confidence. I plan to cash out my AMC and GME mad gains, if it happens and put money into this one.

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osses at Cineworld have persuaded enough shareholders to vote in favour of a huge new bonus scheme that could see its chief executive net £65 million as part of a bonus pot worth up to £208 million.

Investors holding just over 70% of shares voted for the new long-term incentive plan, despite Cineworld receiving taxpayer support through furlough and tapping up shareholders for cash to avoid collapse during the pandemic.

Alicja Kornasiewicz, chair of the cinema chain, said: “We acknowledge that there were a significant number of votes cast against the plan and the board will continue to engage with shareholders on remuneration matters in the coming months in light of the feedback received during our consultation.”

 

The company, which is the world’s second-largest cinema operator, had expected a backlash although in the end 69.25% and 70.15% voted in favour of the remuneration and long-term incentive plans respectively.

 

Prior to the vote, proxy advisers for shareholders Glass Lewis and ISS had described the plans for the bonus as “excessive”.

They also questioned whether the chief executive, Mooky Greidinger, required further incentives considering his family already have a 20% stake in the business.

To get a £33 million payout Cineworld’s share price must hit 190p within three years – back to levels it was at prior to the pandemic. To unlock £65 million it must hit 380p. Shares were down 3.18% at 64p by Monday lunchtime.

 

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