UKFI Votes In Favor Of All RBS Resolutions

Date : 05/30/2012 @ 10:56AM
Source : Dow Jones News
Stock : Royal Bank of Scotland Grp. Plc New (The) Ads (RBS)
Quote : 6.49  0.0 (0.00%) @ 10:27AM

UKFI Votes In Favor Of All RBS Resolutions

Royal Bank of Scotland Grp. Plc New (The) Ads (NYSE:RBS)
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UK Financial Investments Ltd. said Wednesday that it approved all the resolutions put forward by the Royal Bank of Scotland Group PLC (RBS) at the group's annual meeting.

UKFI, which manages an 82% stake in the lender on behalf of the U.K. government, said the RBS remuneration committee has exercised "reasonable judgment" in relation to their approach to directors' remuneration

The company said it also ratified the bank's share consolidation plan, which will see one new share issued for every 10 old ones.

UKFI's majority voting rights means that these points will be voted through.

- By Max Colchester, Dow Jones Newswires; +44 (0) 207 842 9295, max.colchester@wsj.com

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