M&C Saatchi PLC Update in relation to 2023 Annual General Meeting (8854W)

TIDMSAA

RNS Number : 8854W

M&C Saatchi PLC

14 December 2023

M&C SAATCHI PLC

(the "Company")

Update in relation to 2023 Annual General Meeting

The Company today issues an update on the views received from shareholders and the actions taken following the voting outcomes at its Annual General Meeting ("AGM") held on 14 June 2023, in accordance with Provision 4 of the UK Corporate Governance Code (the "Code").

At the 2023 AGM, all 14 resolutions were passed by shareholders. Ten resolutions were well supported by shareholders, with at least 80% of votes cast in favour. Four resolutions were passed with more than 20% of votes cast against.

Since the 2023 AGM, in line with the Company's commitment to maintaining ongoing, transparent dialogue with its shareholders, the Company has engaged with its major shareholders, in order to gather their feedback on these resolutions.

The Chair of the Remuneration Committee of the Company had meetings with shareholders who wished to discuss the resolutions, ensuring the Company fully understood their views.

The Board values the feedback and insights received as part of this consultation process and believes it now has a good understanding of the reasons why certain votes were cast against. The Board will consider the concerns raised by shareholders and in particular, will also ensure that the assessment of future incentivisation takes into consideration the inclusion of deferred elements.

Whilst the Board fully respects and acknowledges that a shareholder may choose to vote against specific resolutions, the Board considers all the resolutions proposed to be in the best interests of all shareholders. The Board will continue to take shareholders' views into consideration as part of its approach to achieving high governance standards and delivering shareholder value.

In accordance with provision 4 of the Code, a final update on this matter will be included in the Company's 2023 Annual Report.

 
 For further information please call: 
  M&C Saatchi plc                                                 +44 (0)20-7543-4500 
 Zillah Byng-Thorne, Executive Chair 
  Bruce Marson, Chief Financial Officer 
 Deutsche Numis                                                   +44 (0)20-7260-1000 
 Nick Westlake, Iqra Amin 
 Liberum                                                          +44 (0)20-3100-2000 
 Max Jones, Benjamin Cryer, Will King

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RAGFLFFEFDLSLIV

(END) Dow Jones Newswires

December 14, 2023 10:31 ET (15:31 GMT)

M&C Saatchi (AQSE:SAA.GB)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024