Mini-investor revolt over changes to builder Galliford Try’s bonus targets

Galliford Try has suffered a mini-shareholder rebellion as 14pc of shareholders opposed its pay report. The FTSE 250 builder had faced criticism from advisory group Glass Lewis over the way it relaxed bonus conditions to account for a rights issue earlier this year prompted by the collapse of Carillion. The £144m fundraising made the bonus targets harder to hit as the new shares diluted its earnings per share. Galliford has insisted the targets are no less onerous than before.