Neptune's Geffen warns on possible New Star departures

Neptune chief Robin Geffen has warned New Star's proposed staff incentive package may not be enough ...

Neptune chief Robin Geffen has warned New Star's proposed staff incentive package may not be enough to keep all its top managers at the firm. Under the terms of its planned restructure, New Star agreed with its banking syndicate to pass on £6m out of the total £100m in high-dividend preference shares to "certain employees". Senior management will also receive warrants over 5% of new ordinary shares. While its top fund managers, including Richard Pease and Tim Steer, are likely to feature in the incentive scheme - it is not yet known who will be among the rumoured 25 employees to receive...