Standard Life Aberdeen Share Discussion Threads

[chinese investor] 21/5/2019 10:24

...And Up !

[chinese investor] 21/5/2019 08:10

This is Going Up...

[mcunliffe1] 20/5/2019 23:01

You mean like it rose when SLA have been spending OUR money buying back shares?

[spud] 20/5/2019 19:35

Don't count on it. There's going to be an awful lot of auto reinvests going on at open & I'd expect the price to rise almost immediately as a result. spud

[tornado12] 20/5/2019 17:30

Divi payment tomorrow and looks like my auto topup will be priced less than 260p :-)

[mcunliffe1] 15/5/2019 08:22

Good posts guys. Thanks.

[edmundshaw] 15/5/2019 08:14

So, they will "seek approval from shareholders for a new pay policy at its 2021 meeting". Why does it take two years to come up with another policy?? Oh, "in line with our normal cycle for renewal". Well, that justifies that then!

After making it a policy overnment has utterly failed to do anything significant about executive pay.

Quoting the 2017 Conservative Manifesto:

"The next Conservative government will legislate to make executive pay packages subject to strict annual votes by shareholders and listed companies will have to publish the ratio of executive pay to broader UK workforce pay. Companies will have to explain their pay policies, particularly complex incentive schemes, better. We will commission an examination of the use of share buybacks, with a view to ensuring these cannot be used artificially to hit performance targets and inflate executive pay."

Almost as trustworthy on this as on their Brexit promises...

[investoroilandgas] 14/5/2019 23:27

Agreed, shareholders can object to Directors remuneration but nothing changes, huge salaries, bonuses, share options are still awarded, it's a gravy train!


Bill Rattray must have had a deputy, was she or he really not suitable to be promoted up to CFO ???

[fionascott1234] 14/5/2019 23:05

THE SNOUTS ARE IN THE TROUGH RIGHT ENOUGH.SHE WILL RECEIVE THE £750000 IN SHARES RATHER THAN CASH - WELL THAT WILL BE FINE THEN!SCANDALOUS COMES TO MIND.The insurer Standard Life Aberdeen has suffered a bruising shareholder revolt over the pay of its new finance chief, with more than two-fifths of investors voting against its remuneration report.At its annual general meeting in Edinburgh, 42% of Standard Life shareholders opposed the report in one of the biggest investor revolts in recent years, but the resolution was passed with nearly 58% backing it in an advisory vote.Shareholder advisory firms Glass Lewis and Institutional Shareholder Services (ISS) had raised concerns about the pay package for Stephanie Bruce, who will become the new chief financial officer at the insurance and asset management firm on 1 June.She is joining from the accounting firm PricewaterhouseCoopers, replacing Bill Rattray, who is retiring after more than 30 years at Standard Life. She will receive an annual salary of £525,000, more than the £450,000 her predecessor was paid, and will get an annual payment equivalent to 20% of salary in lieu of a pension. She is entitled to share awards up to 350% of salary under the executive incentive plan, which are dependent on performance.Glass Lewis said it viewed high fixed pay raises "with scepticism" because remuneration is "not directly linked to performance and may serve as a crutch when performance has fallen below expectations". It also raised concerns over other elements of the pay package, while ISS criticised the performance conditions for not being "sufficiently stretching".Standard Life said in a statement following the annual meeting: "We were aware that certain institutional shareholders were not supportive of specific aspects of the arrangements relating to the remuneration of the incoming CFO." It added that it would continue to talk to investors about their concerns and would publish an update on these discussions within six months. It will seek approval from shareholders for a new pay policy at its 2021 meeting.The firm argued it had to offer Bruce that pay package to "attract a talented senior executive from outside of the investment management industry who was previously remunerated on a comparatively consistent annual reward package, without the significant deferral arrangements we apply".It said before the meeting that it had sought to address shareholders' concerns by linking Bruce's £750,000 joining fee, which will be awarded in shares, to achieving the company's cost-cutting targets.

[eeza] 14/5/2019 16:13

Doesn't matter, when you're shelling out OPM.

[fionascott1234] 14/5/2019 15:31

As I reported 29 days ago,"urged shareholders to vote against Bruce's, "concerning recruitment package" at the annual meeting next month.Bruce will start on £525,000 a year and also receive a, "recruitment award" worth £750,000"NOW THAT'S WHAT I CALL SERIOUS GRAVY.

[spud] 14/5/2019 14:18

And rightly so imo!spud

[chinese investor] 14/5/2019 14:05

"Standard Life Aberdeen is bracing for an investor revolt at its annual general meeting today after proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS) raised concerns about its new finance chief’s salary.

Shareholders have been advised to vote against Stephanie Bruce’s £525,000 pay, which is roughly 17pc more than her male predecessor."

[mcunliffe1] 14/5/2019 12:24

Thanks C I. Eyesight still dodgy :-) Glad you found it.

[chinese investor] 14/5/2019 08:05

MCunliffe1 (SLA) 11 Aug '18 - 09:37 - 648
timmy11, thank you for correcting me.
I'd used an "average" figure from a portfolio I have; eyesight issues.
It should read £3.27 (approx.) at Friday close, 10th August.
I therefore predict little change at about £3.20 - £3.35 by mid-end November after completion of the buy-back.

[mcunliffe1] 13/5/2019 22:30

I remember Fiona.
Pity is I seem NOT to be able to access post number 648 but the details are recounted below. My pessimism appears to be more optimistic in the past.

Big round of applause for Gerry and Keith. Stars of the investment world. :-)


Found 1 results:
MCunliffe1 - 06 Dec 2018 - 19:08:54 - 1200 of 1839 Standard Life SLA - SLA
In post number 648 I said (some time back):

"I therefore predict little change at about £3.20 - £3.35 by mid-end November after completion of the buy-back."

Even I, a cynic to my core, was overly optimistic with this prediction. I remember Pierre O'Reilly trying to explain how buy-backs raise the price of a share.

I'll suggest Pierre that without the buy-back the share price would perhaps have been even worse as you kind-of suggested.

I only hope the SLA invest my pension pot more wisely.

[mcunliffe1] 13/5/2019 22:23

Nice one Fiona.
Will the idjuts at H.Q. pay any heed?
Doubt it.

[lippy4] 13/5/2019 17:15

so say all of us....

[fionascott1234] 13/5/2019 13:56

FOR SHAREHOLDERS WITH A RELATIVELY SHORT MEMORY ; Standard Life Aberdeen's sale of its insurance business to Phoenix Group has been overwhelming approved by shareholders after its chairman pledged it would help transform the company into one of the world's leading investment businesses.More than 99 per cent of shareholders of SLA which was formed last year through the merger of insurer Standard Life and fund manager Aberdeen Asset Management, backed each of the three resolutions relating to the sale.The sale will trigger a "return of value" of about £1.75 billion to the group's shareholdersAt that stage the company has committed to return £1 billion to shareholders in a share consolidation exercise. This will involve the issue and subsequent redemption of new "B" shares in the group.The company says the value of the exercise for shareholders will be a minimum of 33.4 pence sterling for every Standard Life Aberdeen share currently held.The return of value is not a windfall as the company is effectively buying back part of investors' existing holding. Any gain for shareholders on the original purchase price of their shares will be considered under capital gains tax rules.Standard Life Aberdeen will subsequently spend a further £750 million buying the consolidated shares in the marketplace. – Copyright The Financial Times Limited - 25th June, 2018NOTE THAT THE SHARE PRICE ON THAT DATE WAS 355p AND THIS EXERCISE VALUE WAS ESTIMATED TO ADD A MINIMUM OF 33.4p.THE SHARE PRICE TODAY IS - .......

[mcunliffe1] 10/5/2019 15:49

tornado12, if the share were to drop to just 25p think how MANY you could THEN receive in the auto topup.
In the "bad old days" of 2015 when the share was at about £5 you got sooo few auto top-up shares for your divi.

Perhaps management are thinking the same way with their (free) share allocations and in a few weeks time the shares will shoooot up and they'll be (more) minted.

This is me excercising my blame-free cynicism Fiona. :-)

[tornado12] 10/5/2019 15:25

With divi payment coming up could have my auto topup in these at a reasonable bargain price !

[fionascott1234] 06/5/2019 16:52

Like you this house would have been in the running for ~ £50k-worth of shares on what SHOULD have been the original demutualising exercise but there we are. As to being cynical - you can't be blamed!

[eeza] 03/5/2019 09:45

Market not overly impressed with yesterday's news.

[mcunliffe1] 02/5/2019 23:45

Nice Advert CBDRELIEF

WIGIG - original mate