Concerns raised over non-audit fees at Dixons
Investor group Pirc is urging shareholders to oppose several motions, including one on the level of non-audit fees, at Dixons.
Link: Deloitte paid £2.5m for Dixons audit work
The electrical retailer is due to hold its annual meeting on Wednesday where the company will present its proposals on increased options for directors, performance targets and non-audit fees.
But Pirc is encouraging shareholders to vote against the motions, claiming performance targets aren’t challenging enough to warrant the doubling of options to directors.
The investor groups is also concerned that Deloitte has received more in non-audit fees than for its audit work at the company.
Other shareholders groups, however, are downplaying the alleged negative impact of the motions.