IntegraFin Holdings plc Result of AGM - Update (7202R)
November 09 2021 - 2:00AM
UK Regulatory
TIDMIHP
RNS Number : 7202R
IntegraFin Holdings plc
09 November 2021
LEI Number: 213800CYIZKXK9PQYE87
IntegraFin Holdings plc
(the "Company")
2021 Annual General Meeting Voting Results - Update
Statement
9 November 2021
At the Annual General Meeting (AGM) of the Company held on 8
March 2021, 20 per cent or more of votes were cast against the
resolutions listed below:
Resolution For Against
2 To re-elect Richard Cranfield 61.85% 38.15%
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6 To re-elect Neil Holden 66.79% 33.21%
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7 To re-elect Michael Howard 50.20% 49.80%
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Under Provision 4 of the Financial Reporting Council's UK
Corporate Governance Code, the Company is required to provide an
update within six months of the voting results. Whilst the
Company's announcement to the market on 1 September 2021 addressed
some of the issues behind the voting, the Company has been unable
to provide a complete update at an earlier stage as it has taken
some time to consult with the shareholders who voted against the
above resolutions in order to understand and address all of their
concerns.
Analysis of the voting activity along with the matters discussed
in investor meetings indicate that voting against the resolutions
reflected:
-- board composition concerns including reaching gender and
diversity targets as set by the Hampton-Alexander and Parker
Reviews;
-- board tenure;
-- inadequate disclosures on ESG matters and not having
appointed a non-executive director to have board level oversight of
ESG for the Company; and
-- past board meeting attendance deemed insufficient for Michael Howard.
Actions taken by the Company to date include those outlined in
its announcement of 1 September 2021, which include Rita Dhut being
appointed as a non-executive director on 22 September 2021 and Neil
Holden resigning as non-executive director of the Company on 1
September 2021. In addition, Victoria Cochrane has been appointed
the designated non-executive director responsible for board level
oversight of ESG matters and Rita Dhut has been appointed the
designated non-executive director responsible for employee
engagement.
With respect to Michael Howard's attendance at board meetings,
as he is located in Australia, local travel restrictions imposed
due to COVID have made it unfeasible for Michael to attend Board
meetings in person. The Board has now adjusted the times in its
meeting schedule to allow for Michael to attend remotely from
Australia and his attendance for the year to date has been 100 per
cent.
The Company will continue to engage with shareholders and will
provide a final update in the 2021 Annual Report and Accounts.
Enquiries
Media
Lansons
Tony Langham +44 (0)79 7969 2287
Investors
Helen Wakeford +44 (0)20 7608 4951
IntegraFin Holdings plc
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END
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