International Personal Finance Plc Update on Annual General Meeting 2023 Vote (7201Q)
20 Octubre 2023 - 1:04AM
UK Regulatory
TIDMIPF
RNS Number : 7201Q
International Personal Finance Plc
20 October 2023
20 October 2023
International Personal Finance plc
("IPF" or the "Company")
Update on Annual General Meeting 2023 Vote
At the Company's AGM on 27 April 2023, the Board and
Remuneration Committee was pleased to note the very strong support
given by shareholders to the 2023 Remuneration Policy - with 99.33%
of votes in favour. Notwithstanding this strong support, we
recognise that 77.05% of votes were received in favour of
Resolution 2, the advisory vote to approve the directors'
Remuneration Report (excluding the Directors' Remuneration Policy).
The Remuneration Report is set out in pages 95 to 118 of the Annual
Report and Financial Statements 2022.
Therefore, and in accordance with the provisions of the UK
Corporate Governance Code, the Company is pleased to provide an
update, explaining how it has communicated with shareholders about
this matter.
Since the AGM, the Chair of the Remuneration Committee (the
"Committee") has written to the Company's top ten shareholders to
provide further clarification on the more contentious areas, in
particular the discretion applied by the Committee to arrive at the
2022 bonus outcome. A meeting was also offered with the Chair of
the Committee and IPF's Head of Reward to enter into dialogue with
shareholders to invite comment and feedback.
The Company would like to express thanks to all shareholders who
made the time either to meet with us to discuss their views or to
provide written feedback.
The Committee and the Board recognise that the use of upward
discretion in this way will always raise concerns, but we would
emphasise that the decisions made reflect the Committee's and the
Board's view regarding the underlying performance of the Company.
Therefore, having reflected on the feedback and support of the
majority of shareholders, the Committee is satisfied that it acted
in the best interests of the Company and all of its stakeholders.
The Committee will continue to maintain a regular dialogue with
shareholders to ensure continued alignment with their interests and
will continue to action the matters detailed in the Remuneration
Policy approved at the last AGM.
Enquiries:
Georgia Dunn (Deputy Company +44 (0) 113 539 5466
Secretary) +44 (0) 7584 615 230
+44 (0)113 539 5466
Rachel Moran (Investor Relations) +44 (0)7760 167 637
Legal Entity Identifier: 213800II1O44IRKUZB5
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