The UK’s largest estate agency group has cancelled a planned bonus that would have awarded a total of £20m (140) to three executives, depending on the company’s share price performance over the next three years, following criticism from investors. Earlier this month, shares in Countrywide, whose brands include Bairstow Eves, Hamptons, Mann and John D Wood, fell when the company said it needed to raise funds. Auditors warned the company, which hopes to raise £$25mm from shareholders, might not remain in businesss. A subdued housing market means that other companies, including Foxtons, have warned of challenging trading conditions.
The UK’s largest estate agency group has cancelled a planned bonus that would have awarded a total of £20m ($25m) to three executives, depending on the company’s share price performance over the next three years, following criticism from investors. Earlier this month, shares in Countrywide, whose brands include Bairstow Eves, Hamptons, Mann and John D Wood, fell when the company said it needed to raise funds. Auditors warned the company, which hopes to raise £140m from shareholders, might not remain in businesss. A subdued housing market means that other companies, including Foxtons, have warned of challenging trading conditions.