House builder Berkeley Group has its annual general meeting (AGM) on Wednesday, and although things have gone quiet of late in terms of shareholders grumbling about excessive executive remuneration, broker Northland Capital Partners thinks there may be some questions asked about the long-term incentive plan (LTIP) agreed at last year's AGM.
"Whilst the rewards to shareholders are clear with the £13 per share capital return by September 2021, there have been negative comments on the maximum potential LTIP that would confer £280m worth of shares to the directors at the current share price on completion of the £1.7bn capital return and full compliance with the LTIP terms. More importantly, the group has achieved further sales success during the summer with several new sites and phases on existing sites being marketed. These achievements should be a feature of the trading statement expected with the AGM," Northland said.
Restaurant group Prezzo is expected by Panmure Gordon to announce a circa 7% increase in half-year profit before tax to £7.8m.
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"Trading is likely to have been mixed over the last few months reflecting the
impact of Euro 2012, the Olympics and the wettest summer since 1912. Nevertheless the group has an attractive growth plan which underpins earnings growth and we expect it to open at least 20 restaurants a year for the foreseeable future," Panmure Gordon said.
INTERIMS
Advanced Medical Solutions Group, Concurrent Technologies, Prezzo
INTERIM DIVIDEND PAYMENT DATE
Fenner
INTERIM EX-DIVIDEND DATE
Aggreko, Amlin, Arbuthnot Banking Group, ARM Holdings, AZ Electronic Materials SA (DI), Baronsmead VCT 3, Baronsmead VCT 4, Baronsmead VCT 5, Bilfinger Berger Global Infrastructure Sicav S.A.(DI), Camellia, Cape, Carillion, Churchill China, Cineworld Group, Communisis, Delcam, Elementis, Evraz, FBD Holdings, Glanbia, Grafton Group Units, Greggs, Holders Technology, IMI, International Personal Finance, Jardine Lloyd Thompson Group, John Laing Infrastructure Fund Ltd, JPMorgan American Inv Trust, Jupiter European Opportunities Trust, Kazakhmys, London Capital Group Holdings, Maven Income & Growth 4 VCT, Maven Income & Growth 4 VCT 'S' Shares, Michael Page International, National Express Group, New World Resources A Shares, North Midland Construction, Novae Group, Ocean Wilsons Holdings Ltd., Paddy Power, Phoenix Group Holdings (DI), Portmeirion Group, Regus, Resolution Ltd., Robert Walters, SEGRO, Serco Group, Shaft Sinkers Holdings, Shire Plc, TP70 VCT, TUI Travel, Tullow Oil, UK Select Trust Ltd.
QUARTERLY EX-DIVIDEND DATE
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INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
Productivity (US) (13:30)
Retail Sales (EU) (10:00)
GMS
Black Mountain Resources Ltd
FINALS
A&J Mucklow Group, Hargreaves Lansdown
IMSS
Berkeley Group Holdings (The), Sports Direct International
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Dunedin Enterprise Investment Trust
AGMS
Berkeley Group Holdings (The), Conexion Media Group, Daejan Holdings, Endace Ltd, Gail (India) Ltd GDR (Reg S), Sports Direct International
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Official Reserves (09:30)
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Iomart Group, Vedanta Resources
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JH
