Ashcroft pay put at pounds 2m

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MICHAEL ASHCROFT, chairman and chief executive of ADT, the Bermuda-based security and car auction group, was paid more than pounds 2m in 1992, it was reported yesterday.

Documents filed with the US Securities and Exchange Commission are said to show that he received pounds 1.44m in salary and that pounds 596,000 was paid into a trust in lieu of death and retirement benefits. During 1991 and 1992, ADT's capitalisation has virtually halved to about pounds 617m. Ashcroft's salary remained unchanged from 1991. He received pounds 1.2m in 1990.