Retail broker Plus500 has published the results of its Annual General Meeting (AGM).
Each of the resolutions proposed was voted on by ballot. All but one resolution (a resolution on directors' remuneration, which was advisory in nature) was passed by the requisite majority.
The report showed that David Zruia, Steve Baldwin, Varda Lieberman, and Jacob A. Frankel were re-elected to the Board. However, the majority vote was to re-appoint the auditors and to authorize the Board to set the auditors' remuneration.
The Plus500 Board notes that more than 20% of the votes cast were against the Board's recommendation on the director remuneration resolutions and the re-election of Jacob A. Frankel. The Board has consulted with shareholders on these resolutions and is concerned about the outcome of the vote.
The company is committed to engaging with shareholders and shareholder advisory bodies to consider their views on governance and remuneration, and, in accordance with the UK Corporate Governance Code, Plus500 will publish the results of this engagement over the next six months.
Plus500 was incorporated in the UK in 2008 and is regulated by the FCA, CySEC, ASIC, MAS, FSCA, and a number of other international organizations. Plus500 is listed on the London Stock Exchange and is one of the companies that make up the FTSE 250 index.
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