Shares in the UK’s largest serviced office operator Regus Plc have fallen by over 10 per cent.
The drop of 9p per share has come despite the company seeing a year-on-year increase in turn over during the past four months. CEO Mark Dixon has reportedly blamed the drop in value of the pound for the slow up in revenue.
After being offered an executive pay package, a third of the company’s independent shareholders voted against the package for the second time in two years at the group’s annual meeting.
Ahead of the vote the Association of British Insurers expressed concerns regarding the company’s corporate governance after Regus chose to ignore the company’s share underperformance and allot 1.6m shares to Mark Dixon, who owns over 37% of the company, in line with the group’s performance bonus plan.