New remuneration policy and termination of plan

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 0391C Globalworth Real Estate Inv Ltd 13 June 2019  \n\n \nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.\n \n13 June 2019\nGlobalworth Real Estate Investments Limited \n(\"Globalworth\" or the \"Company\")\nAdoption of new Group remuneration policy and termination of the existing Investment Manager plan\nFollowing the announced delisting of Globalworth Poland and its 100% integration into the Globalworth group of companies (the \"Group\"), Globalworth, the leading office investor in Central and Eastern Europe, announces today the in principle adoption of a new Group-wide remuneration policy as well as the termination of the existing incentive fee arrangements (the \"Plan\") for Globalworth Investment Advisers Ltd (\"GIAL\" or the \"Investment Manager\"), a wholly-owned subsidiary of the Company. \nNew Group Remuneration Policy\nThe Board, following the recommendation of the Remuneration Committee (the \"Committee\"), and after discussions with the major shareholders, has today in principle approved the adoption of a new Group-wide remuneration policy applicable to the Investment Manager and senior employees of the Group with effect as of January 1st, 2019.  \nThe key objectives of the new Group remuneration policy are to:\n·    strongly align Group employee and shareholder interests;\n·    underpin an effective pay-for-performance culture;\n·    support the retention, motivation and recruitment of talented people; and\n·    encourage Company shareholding ownership amongst Group employees.\nIn adopting the new Group remuneration policy, the following were considered:\n·    the Plan and its termination value of Euro 26.2 million in cash and 3,161,198 in shares to be issued at the price of Euro 9.10 (please refer below for further details);\n·    Input from major shareholders and management;\n·    the UK Corporate Governance Code (July 2018);\n·    the Investment Association Principles of Remuneration (November 2018); and\n·    advice from two i...

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