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Pendragon abandons executive bonus plan

Pendragon has scrapped plans for a one-off executive bonus scheme after opposition from shareholders.

The incentive plan was designed for 100 executives which would get 10% of additional shareholder returns, dividends plus share price appreciation, if the share price goes above a threshold of 110p, according to the Financial Times.

Pendragon said the proposals were only dropped because of "broader market conditions".

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