Goco Group PLC AGM Statement Update (6939V)
December 04 2019 - 9:01AM
UK Regulatory
TIDMGOCO
RNS Number : 6939V
Goco Group PLC
04 December 2019
Further statement in relation to AGM vote on Directors'
Remuneration Report
At our AGM held on 23 May 2019, the Board noted, that 74.97% of
shareholders voted in favour of the Remuneration Report, with
25.03% of shareholders voting against. As detailed in our AGM
results announcement, the Remuneration Committee carried out a
shareholder consultation exercise in early 2019 and was pleased
that many shareholders took the time to share their views prior to
the AGM.
Whereas, some investors noted their concern for the use of
discretion for the one-off legacy award, as this was contrary to
their policy on remuneration practices, a number of shareholders
recognised that the one-off legacy awards were granted under
exceptional circumstances and understood our rationale for
discretion and were therefore able to support the resolution. There
are currently no other one-off legacy awards in-flight and there is
no intention to grant further one-off awards to Executive
Directors.
Following the AGM, the Remuneration Committee commenced a review
of the Directors' Remuneration Policy. The review has taken into
account recent market trends and development in best practice and
we will be seeking approval for a new Directors' Remuneration
Policy at our AGM in 2020. A consultation is underway to engage
major shareholders and proxy advisors to seek their input on the
remuneration arrangements and the new Policy. The Group is
committed to maintaining ongoing dialogue with our shareholders
and, as part of the development of the new Policy, we will reflect
on feedback received from shareholders as we develop our
remuneration arrangements going forward.
The Board and the Remuneration Committee are committed to
continuing their engagement and dialogue with the Group's
shareholders and advisory bodies and welcome their feedback.
A further update on these matters will be included in the
Group's Annual Report.
GoCo Group plc
Nick Edwards, Company Secretary
Tel: 01633 654 060
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGMLLFEVFALSIIA
(END) Dow Jones Newswires
December 04, 2019 09:01 ET (14:01 GMT)
Goco (LSE:GOCO)
Historical Stock Chart
From Apr 2024 to May 2024
Goco (LSE:GOCO)
Historical Stock Chart
From May 2023 to May 2024