Retail FX and CFD broker Plus500 Ltd (LON:PLUS) today provided an update on the voting outcome at its Annual General Meeting (AGM) held on 4 May 2021, in line with best practice governance and disclosure standards.
At the AGM, two of the resolutions which were passed had more than 20% of votes cast against them. These resolutions related to an advisory vote on the directors’ remuneration report and a tax-related bonus payment regarding the broker obtaining a highly beneficial approval from the Israeli Tax Authority and the Israel Innovation Authority as a ‘Preferred Technological Enterprise’.
Plus500 explains that its Board of directors engaged with various shareholder advisory bodies and a number of shareholders, taking into account their feedback and amending the terms of various resolutions accordingly.
Furthermore, following this shareholder consultation, the Remuneration Committee excluded special, one-off bonuses in future Executive Remuneration plans in the Company’s updated Remuneration Policy. A resolution for this updated Remuneration Policy was approved by over 94% of shareholders’ votes cast at the AGM.
Plus500 says:
“The Board always takes the outcome of shareholder votes seriously and, going forward, will continue to consider related shareholder feedback, with a view to implementing this feedback, as appropriate”.