Wednesday preview: Berkeley Group, Prezzo

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.

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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.

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