Shareholders up pressure on Vodafone

NEWS Vodafone's most significant shareholders are holding their breaths ahead of a report due out tomorrow indicating the amount of share options the company will hand out as part of its pay packages. The company, which has seen its share value plummet this year has been in talks with the shareholders to reach an agreement on executive pay. Last year the shareholders refused to bend on the company's attempt to reward its chief with a £6m pay deal. A report in today's Financial Times cites shareholders who are particularly keen to restrict the number of share options handed out. There are calls for sensitivity towards the shareholders who have seen the value of their investments in Vodafone stock fall almost 80 per cent since the heady times of Telecoms-mania and from a 52 week high of 195 pence to 96.25 at close yesterday. The final proposal for executive remuneration packages will be revealed tomorrow in an annual report ahead of a shareholder vote set to take place on 31 July. The company is also expected to crack down on performance-related bonuses.