A third of independent shareholders in Regus voted against an executive pay package as the serviced offices group reported a slowdown in revenue growth.
The shares dropped more than 10% yesterday after the release of an interim management statement to coincide with the group’s annual meeting. They fell 9p, or 10.7%, to close at 75p.
Turnover rose 16% year-on-year in the four months to the end of April, from £334.5m to £387m. But Mark Dixon, chief executive, said that most of the benefit came from the declining value of the pound.
'We are pretty flat on revenues when you take out currency,' he said.