Hargreaves Lansdown consults on nine resolutions following AGM dissent
Shareholders expressed discontent but ultimately passed the investment platform’s performance share plan, as 74.5% voted for the proposal, with 25.5% voting against.
According to the results of its 8 December AGM, while all resolutions were passed, nine of the 20 proposals received less than 80% support, leading the board to begin a consultation with specific shareholders who voted against them in order to «understand any concerns».
Shareholders expressed discontent, but ultimately passed the investment platform's performance share plan, with 74.5% voting for the proposal, with 25.5% voting against.
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Two special resolutions requiring a 75% majority to pass barely squeaked through, with the proposed share buyback scheme garnering 75.01% of votes cast falling in favour, while 76.6% of votes cast were in support of the authority to disapply statutory pre-emption rights.
More than half of non-executive director re-elections were met with opposition, as John Troiano, Andrea Blance, Moni Mannings, Penny James and Darren Pope all suffered greater than 20% of votes cast falling against them.
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The proposals to re-elect Deanna Oppenheimer as chair and Roger Perkin as a non-executive director were not put to shareholders, following their recent resignation from the firm.
A resolution to approve short notice for general meetings was passed with 97.8% support.
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