REG - IWG Plc Regus PLC - AGM UPDATE STATEMENT

International WorkplaceAnnouncement

16/09/2022 15:00

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RNS Number : 6320Z  IWG PLC  16 September 2022

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 2 at the
2022 AGM.

 

Throughout the year, and ahead of 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 continue to consider their views in our decision making.

 

Resolution 2 - To approve the Directors' Remuneration Report on an advisory
basis

 

While Resolution 2 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 who we engaged with were
supportive of the rationale used by the Remuneration Committee in applying its
discretion in respect of the Executive Director bonus outcome for 2021 but we
recognise the views of some shareholders and proxy advisors who did not
support our use of discretion. Overall the Remuneration  Committee believes
that it acted fairly and appropriately in determining the bonus outcome for
Executive directors in 2021.

 

Following the AGM, Nina Henderson, the Remuneration Committee Chair, and
Douglas Sutherland, the Chairman, contacted major shareholders who had not
supported our Remuneration Report to understand the reasons for their vote and
to offer further engagement.

 

The Remuneration Committee will continue to consult with shareholders, as
appropriate, in respect of the Company's ongoing remuneration practices.

 

 

 

 

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