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Renumeration Committee

Remuneration Committee

The Remuneration Committee comprises Paul Roy, Kay Chaldecott and Alastair Miller and is chaired by Kay Chaldecott.

The committee meets not less than once a year and has responsibility for considering the remuneration of the Board members. The Committee monitors the performance of the Directors and Company Secretary. 

The objective of the Committee is to implement the remuneration policy of the Group which is to ensure that Directors and senior managers are rewarded in a way that attracts, retains, motivates and rewards management of the highest quality, aligns shareholder and executives interests and promotes a direct relationship between results and reward, reflecting best practice appropriate to the size and stature of the Company. In doing so it considers the remuneration of Directors of other specialist property investment companies that it considers its peers.

Remuneration and share schemes are designed to encourage Executive Directors and senior managers to align their long-term career aspirations with long-term interests of the Group, promoting the attainment of both individual and corporate achievements measured against specific criteria. In 2013 the Committee consulted with the Company's larger shareholders on the terms of awards under its Performance Share Scheme. The Executive Directors are encouraged to build up and maintain a shareholding equivalent to one year’s salary. 

h2glenfern, an independent adviser on executive remuneration, is appointed by the Remuneration Committee to advise it on the structure of the awards, in particular on the performance measures in its long term incentive plans.