Safestore scrapes pay deal at AGM

UK self-storage operator Safestore passed a controversial pay deal for directors at its annual general meeting yesterday, despite a sizeable protest vote that saw 22 per cent of investors vote against the package. The resolution proposed increasing chief executive Peter Gowers’ pay raised from £315,000 in 2011 to £325,000 this year. The company’s shares have lost 16 per cent over the past 12 months, and in January its pre-tax profit fell 71 per cent.