C&C's three new senior executives will be entitled to walk away from the company with combined compensation of €800,000 if shareholders reject a share-based incentive plan for the trio at an egm on December 18th.

This emerged yesterday in the document sent to shareholders of the drinks group to explain the share-based plan, which forms part of the remuneration package for the three former Scottish Newcastle executives.

The new management members, appointed on November 10th, are John Dunsmore, who has taken over as chief executive, chief operating officer Stephen Glancey and Kenny Neison as strategy director.

Mr Dunsmore replaces Maurice Pratt, who stepped down from his position in October.

C&C proposed to issue 16 million new shares. Of these, 12.8 million of the shares would be allocated to the trio at a value of €1.15 each.