Link Group hit with first strike on pay as shares soar on guidance

The news: Financial technology company Link Group has boosted its guidance for the current financial year, boosting its share price by 5.5%. But the good news for the board was short-lived as shareholders launched an 83% protest vote against the company's remuneration report.

The numbers: At 12:30pm AEDT Link shares were trading 5.5% higher at $1.255, after soaring as high as $1.31 early in the session. Link predicts group revenue growth of at least 6.5%, up from 5%, and lifted its EBIT growth expectations from 6% to up to 9%. At Link's AGM, there was a vote of more than 83% against the remuneration report and almost 50% of votes went against the equity plan for the CEO and board.

The context: Link has been undergoing a transformation in recent years, punctuated by major divestments from its Ireland and UK businesses and property settlement technology Pexa. Link's share price is around multi-year lows, and the company recently had to restate its FY23 results after ASIC raised concerns with the accounting of its UK and Ireland exits.