IWG PLC AGM UPDATE STATEMENT (4480R)
26 Octubre 2023 - 9:28AM
UK Regulatory
TIDMIWG TIDMTTM
RNS Number : 4480R
IWG PLC
26 October 2023
IWG PLC
AGM UPDATE STATEMENT
In line with Provision 4 of the 2018 UK Corporate Governance
Code (the "2018 Code"), the Board has released this statement to
provide an update to shareholders on the actions taken following
the outcome of resolution 3 at the 2023 AGM.
Throughout the year, both ahead of and after the AGM, the
Company engaged with its shareholders to understand their views. We
will continue to engage regularly with shareholders (including on
the matters relating to the below resolution) and consider their
views in our decision making.
Resolu tion 3 - To approve the Directors' Remuneration Report on
an advisory basis
While Resolution 3 to approve the Directors' Remuneration Report
on an advisory basis was supported by a clear majority of our
shareholders, we acknowledge the significant minority vote
against.
Prior to the AGM the Remuneration Committee consulted with
shareholders and proxy advisors. The majority of shareholders whom
we engaged with were supportive of our Directors' Remuneration
Report. However, we recognise the views of some shareholders and
proxy advisors who did not support the partial payout of the annual
bonus for 2022 based on achieving strategic target objectives when
the financial objectives were not achieved. Overall, the
Remuneration Committee believes that it acted fairly and
appropriately in determining the bonus outcome for Executive
directors in 2022.
Following the AGM, Nina Henderson, the Remuneration Committee
Chair, and Douglas Sutherland, the Chairman, contacted major
shareholders who had not supported our Directors' Remuneration
Report to understand the reasons for their vote and to offer
further engagement. This engagement has been taken into account in
respect of the 2023 annual bonus targets for Executive
Directors.
The Remuneration Committee will continue to consult with
shareholders, as appropriate, in respect of the Company's ongoing
remuneration practices.
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END
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October 26, 2023 10:28 ET (14:28 GMT)
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