Safestore gets REIT approval

Close to a fifth of shareholders in Safestore voted against the storage firm’s executive pay report yesterday, taking the shine off a 99.99 per cent vote in favour of the group’s conversion to a real estate investment trust. The protest vote of 19.78 per cent, similar in size to last year’s shareholder rebellion, came after advisory body Pirc recommended that investors oppose the remuneration report as some of the performance targets are vague or not included.