calls EGM to clear pay deal

bwinnorbertOnline gambling group has outlined plans to award top executives up to 550pc of their annual salary as some existing bonus plans have become worthless.

In a circular sent to investors last week, the company is seeking approval to award chief executive Norbert Teufelberger a maximum of five and a half times his base salary of £500,000 if targets are met.

Martin Weigold, the finance chief, could receive up to 435pc of his £446,000 annual salary.

Shareholders will get a chance to vote on the plan at an extraordinary general meeting in Gibraltar, where the company is based, on February 24. UK investors can vote online by February 22.

If agreed, the new incentive plan, or BIP, would replace two existing plans established in March 2011, when bwin Interactive Entertainment merged with PartyGaming.

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