Plus500 Ltd (LSE:PLUS), the global fintech group, provided a statement in relation to its AGM, held on 3 May 2022, where three resolutions that were passed had more than 20% of votes cast against them.
Those resolutions included an advisory vote on the directors’ remuneration report, the re-election of one of the board’s independent non-executive directors and an allotment of shares to the chair of the board.
Plus500 said its board members in the months since the AGM have engaged with shareholders to understand their perspective on the above-mentioned resolutions and on the company 's overall framework for governance and remuneration
“As a result, the board believes it has a good understanding of the rationale regarding the votes cast against and where appropriate will take these views into consideration in the group’s future approach to these areas.”
Plus500 noted that all other resolutions were passed by at least a majority of 80%, which it said “demonstrates shareholders’ overall on-going recognition of the importance of providing appropriate incentives to attract and retain high quality individuals to the board”.