September 27, 2017 / 7:21 PM / in 2 months

Investors approve Entertainment One management pay resolutions

(Reuters) - Entertainment One Ltd (ETO.L), maker of children’s TV show Peppa Pig, received just enough support to pass a string of resolutions on management pay at a shareholder meeting on Wednesday.

Resolutions such as the directors’ remuneration report, the directors’ remuneration policy and amendments to the long-term incentive plan passed with votes in favor ranging between 52.64 and 61.81 percent of total votes cast.

London financial newspaper City A.M. reported earlier that Entertainment One faced a shareholder revolt over a plan to award its chief executive, Darren Throop, a 7.6 million pound ($10 million) payout and a large pay rise.

The resolution to pass the directors’ remuneration policy received least support, with about 52.6 percent of votes cast for it, while the resolution to approve the grant of the CEO’s special award received about 54.7 percent of the votes.

“The board will reflect on the feedback that it has received from shareholders and will continue to engage actively with shareholders and investors,” the company said in a statement.

Last year, Canada-based Entertainment One rejected a 1 billion-pound takeover offer from Britain’s biggest free-to-air commercial broadcaster ITV (ITV.L), saying it undervalued the production and distribution company.

Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Edmund Blair and Adrian Croft

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