REG - Carr's Group PLC - Outcome of Shareholder Engagement

Carr'sAnnouncement

01/11/2023 15:30

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RNS Number : 0895S  Carr's Group PLC  01 November 2023

 

1 November 2023

Carr's Group plc

("Carr's", the "Company", or the "Group")

 

Statement detailing outcome of shareholder engagement following Directors'
Remuneration Report (DRR) vote at a General Meeting on 2 May 2023

 

At the recent General Meeting of 2 May 2023 (GM), the resolution to receive
and adopt the Directors' Remuneration Report (Resolution 5) was passed by the
requisite majority, however, 23.32% of votes were cast against.

The Company has subsequently undertaken an engagement exercise with
shareholders to discuss this voting outcome.   We contacted our eight
largest shareholders, representing just over 50% of the shares on our
shareholder register.  This dialogue was not limited to discussion on the
relevant vote, with feedback also being invited on the renewal of our
Remuneration Policy in 2024.

The limited feedback we received focused entirely on the forthcoming
Remuneration Policy, with shareholders largely seeking confirmation that the
proposed Remuneration Policy fully aligned executive remuneration with the
agreed strategy of the Company.  The perspectives of our major shareholders
are a valued and welcome input into the Committee's deliberations, and we
would like to thank shareholders for engaging with us over this matter.

The Committee will now present the revised Remuneration Policy to all
shareholders for approval at the 2024 Annual General Meeting.

The Company is publishing this statement as required by the UK Corporate
Governance Code in response to the votes received against the DRR resolution
at the GM of 2 May 2023.

Ian Wood

Chair of the Remuneration Committee

 

Enquiries:

 Carr's Group plc                     Tel: +44 (0) 1228 554 600

 Justin Richards, Company Secretary

 

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