Business briefs: Roger White | GlaxoSmithKline | Kier | Amor Group
The chief executive was also awarded £389,715 worth of shares and options due to vest in 2015 and 2018.
Overall boardroom pay rose from £2.9m in 2011-12 to £3.1m this year as the firm continues to press ahead with its plans to merge with rival Britvic.
The remuneration committee is chaired by Robin Barr whose family holds 38 per cent of the Cumbernauld-based company.
• Drugs firm GlaxoSmithKline has confirmed that it is seeking buyers for its Lucozade and Ribena soft drinks brands in a move that analysts believe will raise more than £1 billion.
The group said that, following a strategic review, it had “decided to pursue the divestment of these brands, subject to the realisation of appropriate value”.
Glaxo’s plans were unveiled alongside first-quarter results that showed operating profits fell 6 per cent to £2 billion, on turnover 3 per cent lower at £6.5bn. It expects full-year sales to rise about 1 per cent.
• Construction group Kier has agreed a £221 million bid for infrastructure and maintenance company May Gurney, trumping a rival offer from Costain.
The acquisition would extend Kier’s business into Scotland, where May Gurney holds public sector contracts through its Turriff subsidiary, as well as the south-west of England, said Kier chief executive Paul Sheffield.
The firm’s recommended offer of 315p per share is a 35 per cent premium to Costain’s all-share bid, made last month. Costain said it was “considering its position”.
• Amor Group, the Glasgow-based IT company, has won a three-year contract to supply the Scottish Government.
The firm will work with the Scottish Government’s information services division to provide “Scots”, a platform with more than 10,000 users over some 150 sites across Scotland. One of Amor’s key remits will be to ensure that users can access the network from laptops, desktops and various mobile devices.
Amor has been awarded the contract on a “framework” basis, which is designed to drive cost savings.