After a positive opening of Cineworld’s stock (LON:CINE) week, it fell 4.11% on Tuesday to 92.34p. They lost many positions from their highest point at 122p, which was the level on March 19th. Since the turn of the year, despite today’s retreat, Cineworld stock has risen 44%. This is because the chain reopens cinemas in both the US and the UK in April and May, respectively.
Cineworld clashes with major investors
Ahead of the AGM on May 12, Cineworld has made a blow to one of its major shareholders, Legal and General Investment Management (LGIM), as the company announced its intention to oppose the reelection of the incumbent chairman of the cinema chain. I’m receiving it. It is added to the Linkation Committee.
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“There is strong concern about the inconsistency between the structure of the long-term incentive plan granted to executives and the long-term interests of the company, its shareholders and other stakeholders,” Lgim said in a statement. Ta.
“We are particularly focusing on the impact of Covid-19 on the company’s financial and stakeholders, including the suspension of furloughs for employees and dividends, and taking into account current social sensitivity to income inequality. I’m in,” Lgim said.
The timing is not ideal as this will appear to reopen the UK location on May 17th and reopen along the roadmap from government lockdown.
