Investors approve Cineworld’s bonus scheme | UK Market Update

Investors of Cineworld, which is the largest cinema chain in the UK, have cleared an incentive scheme that could give top bosses shares worth more than £200m.

• In October, Cineworld, hit by the pandemic-related uncertainties, has closed all of its sites in the UK and Ireland.

• A special meeting was held to discuss and vote for the new pay policy and incentive plan. Ofgem wants a new electricity system operator in place of National Grid

• Energy regulator Ofgem is planning to introduce a new electricity system operator in a bid to help the UK in achieving its climate targets.

• Ofgem has said National Grid should not be in the role as it owns energy networks and there could be a conflict of interest.

• Though, to avoid complications, FTSE 100 listed National Grid had separated its system operator business.

Carlyle Group to buy out Jagex

• The Carlyle Group has acquired UK-based video games developer Jagex, creator of famous games such as RuneScape.

• With over 300 million players since its launch 20 years ago, the RuneScape franchise is worth around $1 billion.

• The deal is expected to be of more than $530m (£387m), though the deal details are still unknown.

 


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