Tabcorp shareholders dispute executive merger rewards

first_imgShare Submit Share The governance of Australia ASX-listed Tabcorp Holdings has been served a bloody nose, as a significant number of its investors have rejected the firm’s executive remuneration report.This Wednesday, 40% of Tabcorp investors voted against 2017/18 executive packages.Australian business news sources report that investors had been incensed by the company attaching executive performance rewards (bonuses) to Tabcorp’s AUS $11 billion merger with main market rival Tatts Group.The vote sees Tabcorp governance served its first strike under ASX rules. Tabcorp will move to restructure its executive remuneration provisions, seeking to avoid a 25% rejection vote at next year’s AGM, which will force a board spill.Tabcorp Chairman Paula Dwyer acknowledged investor concerns that executive rewards should be conditional to the success of the Tatts merger.Nevertheless, Dwyer explained that the rewards were in recognition of ‘extraordinary efforts’ to complete a landmark and business changing transaction which took 14-months to complete.Continuing its merger integration with Tatts, Dwyer assured Tabcorp investors that executive remuneration policy would change to a ‘synergy-model which reflects the firm’s changed business entity.“The new performance measure will be based on the achievement of synergies and benefits from the combination at the end of FY21, and the vesting period will be extended from two years to three and a half years.” Related Articles Senet Australia appoints Paul Newsom as new client advisory lead  August 27, 2020 Tabcorp raises $371m through institutional entitlement offer August 24, 2020 StumbleUpon Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020last_img read more

Local Girl Scouts Hold Fundraisers to Save Camp Woodland in Alpena

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisThe Girl Scouts of Northeast Michigan Shore to Shore, along with their troop leaders, are gearing up for major fundraiser efforts to save one of the places they call home, Camp Woodlands.Fundraiser efforts are underway to save the historic Camp Woodlands Girl Scout Camp. The camp known to thousands of Northeast Michigan Girl Scouts and the community is in need of repair and renovations. If you take a drive past the airport and turn on Indian Reserve road you would eventually pull and find Camp Woodlands.Built over 60 years ago, Fundraiser Chair, Donna Precord said this is a way for not only the community to help, but also for past scouts to step up and help bring the camp back to life.“There’s a lot to be said. We have had probably more than a 1000 girls a year use this place, so in 60 years we have put a lot of girls through this camp, and it’s no wonder this camp needs a lot of help. So we’re going to ask the community to support us in some of the efforts that we have and if you ever been a girl scout perhaps this is the time to show how much you appreciated the opportunity you had,” Precord said.Precord said the goal for renovations includes a handicap accessible bathroom, roof replacements, upgrades both indoor and outdoor, and kitchen repairs.Precord said one of her favorite memories at the camp was learning how to survive the winter.“I loved winter camping. I did it 8 or 9 years. We slept in winter boxes, tents whatever. But the girls had to have practice knowing how to survive. They had to spend a whole day out at camp and endure all of the activities you need to do and stay safe and warm and then I would let go during the winter camp. But that I think was my most magical night,” she added.The scouts will have 4 major fundraisers coming up including a Camp Woodlands dinner, September 23rd, Building a Foundation starting on August 1st, Creating Puzzle Pieces, and Growing Trees at the Camp.The camp will celebrate their 60th anniversary on Saturday October 7th. For more information on how you can help with the efforts, contact Donna Precord at 989–354–5590.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Camp Woodland, Fundraiser, Girl Scouts, Girl Scouts Fundraiser, Girl Scouts of Northeast Michigan Shore to ShoreContinue ReadingPrevious MSP Alpena Post to Host 2017 Citizens AcademyNext Thunder Bay Theatre Holds a ‘West Side Story’ One Weekend Only Concertlast_img read more

NBA players react to Rockets trading for Russell Westbrook, sending Chris Paul to Thunder

first_imgThe 2019 NBA offseason had already been too much to handle. Then Russell Westbrook got traded.In a surprising Thursday night deal, the Rockets acquired the 2017 NBA MVP and sent Chris Paul plus multiple draft picks and pick swaps to the Thunder.  The Oklahoma City Thunder have agreed to trade Russell Westbrook to the Houston Rockets for Chris Paul, first-round picks in 2024 and 2026, pick swaps in 2021 and 2025, league sources tell ESPN.— Adrian Wojnarowski (@wojespn) July 12, 2019Sources: Pick protections in Thunder/Rockets, Russell Westbrook/Chris Paul trade:2024 first round pick, protected 1-42026 first round pick, protected 1-42025 swap, 1-20 protected2021 swap, protected 1-4 — OKC can swap Clippers pick or Heat pick.— Shams Charania (@ShamsCharania) July 12, 2019Oklahoma City has now piled up eight first-rounders since draft night, an incredible haul for general manager Sam Presti. It’s possible the Thunder aren’t done yet, as Paul could be flipped to another team prior to the start of the 2019-20 season.MORE: What happened last time Westbrook, Harden played together?Players around the league quickly reacted to the news. Several took to Twitter to share their thoughts on Westbrook heading to Houston.What it dooooo brodieee ! 🤘🏾🤘🏾🚀🚀 @russwest44— Clint Capela (@CapelaClint) July 12, 2019👀— Eric Gordon (@TheofficialEG10) July 12, 2019the league has been going crazy 😱 wow !!— Ja Morant (@JaMorant) July 12, 2019Can we just talk about how horrific all these analyst and nba insiders, other than Woj, have been this whole free agency? #nba— Patrick Patterson (@pdpatt) July 12, 2019This league boi!!!!— Bradley Beal (@RealDealBeal23) July 12, 2019WOW!! https://t.co/4g2Z6UVJfN— Enes Kanter (@EnesKanter) July 12, 2019Craziest NBA summer by far… And Summer just started a few wks ago!! WOW…— 🏁 Jamal Crawford (@JCrossover) July 12, 2019Well Damn🤔— DWade (@DwyaneWade) July 12, 2019This summer was like a video game when you in season mode and you just draft yo own players lol— Bobby BP Portis (@BPortistime) July 12, 2019NBA will be so interesting this year— Josh Hart (@joshhart) July 12, 2019This League is crazy y’all…. But y’all already knew that !— Trae Young (@TheTraeYoung) July 12, 2019last_img read more