Friday 8
November 2024
Quilter plc
Update Statement with respect
to 2024 Annual General Meeting Resolution Vote
At our AGM held on 23 May 2024,
resolution 15, which sought authorisation for political donations
or expenditure, passed with the requisite majority of votes,
however 27.26% of the votes cast were against the
resolution.
As we reported following the 2023
AGM, there was a significant difference in voting between the South
African and UK share registers on this resolution with 57.19% and
97.36% support respectively. In accordance with provision 4 of the
UK Corporate Governance Code, we have continued to directly engage
with our largest South African shareholders on this resolution to
further understand their views. We believe our South African
shareholders now have a better understanding of the purpose of this
resolution in the UK however we continue to recognise that in the
current South African governance context, any linkage between
business and politics is sensitive.
Quilter has not made any political
donations and has no intention of undertaking political donations
but, in line with other listed UK companies, has sought such
authority to avoid any inadvertent breaches of UK company law given
the breadth of the applicable provisions. We understand the
importance of continuing dialogue and effective communication with
our shareholders to ensure that it is clear that the Board believes
that this authority is simply a precautionary measure to ensure
that the Company (and its subsidiaries) does not inadvertently
breach in the UK, South Africa or anywhere else in the world, UK
company law. Similar to the prior year, we will continue to explain
clearly the reasons why the Board believe this resolution is an
important protection for the Company in the 2025 Notice of Annual
General Meeting.
-ends-
Enquiries:
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Investor Relations:
John-Paul Crutchley
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+44 (0) 20 7002 7016
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Company Secretary:
Clare Barrett
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+44 (0) 207 002 7072
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About Quilter plc:
Quilter plc is a leading provider of
financial advice, investments and wealth management, committed to
being the UK's best wealth manager for clients and their
advisers.
Quilter oversees £116.2 billion in
customer investments (as at 30 September 2024).
It has an adviser and customer
offering spanning financial advice, investment
platforms, multi-asset investment solutions, and discretionary fund
management.
The business is comprised of two
segments: Affluent and
High Net Worth.
Affluent encompasses the
financial planning businesses, Quilter Financial Planning, the
Quilter Investment Platform and Quilter Investors, the Multi-asset
investment solutions business.
High Net Worth includes the
discretionary fund management business, Quilter Cheviot, together
with Quilter Cheviot Financial Planning.