REG - Kin and Carta PLC - AGM Voting Update

Kin and CartaAnnouncement

31/05/2023 16:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230531:nRSe2192Ba&default-theme=true

RNS Number : 2192B  Kin and Carta PLC  31 May 2023

KIN AND CARTA PLC

("Kin + Carta" or the "Company")

AGM voting update

At our Annual General meeting held on 1 December 2022, resolution 3 (Approval
of Directors' Remuneration Policy) and resolution 13 (Approval of Long Term
Incentive Plan (LTIP)) were both supported by a large majority of shareholders
but received less than 80% support.

In advance of the 2022 Annual General Meeting the Remuneration Committee (the
"Committee") had undertaken significant engagement with our largest
shareholders in relation to our remuneration proposals, with the final
proposal being adjusted to take into account feedback received.  Following
the 2022 AGM, the Committee reached out to the Company's largest shareholders
who did not support the resolutions, to continue a dialogue and listen to
their views as significant investors of Kin + Carta. This has resulted in
various correspondence and a number of conversations with these shareholders.
Although there was a range of views from these shareholders, the primary issue
raised by most of those consulted with was that while they are sympathetic to
our rationale that it was necessary to increase executive remuneration to
better compete for talent in the US technology market, the Directors'
Remuneration Policy included increases to both the maximum annual bonus and
LTIP opportunities and some shareholders would have preferred an increase to
one element of the package only or a more staggered approach. Whilst the
Committee understands the points raised by those shareholders voting against
the resolutions, the Committee continues to believe the Directors'
Remuneration Policy meets the objectives of balancing the Company's need to
recruit and retain talent in the US technology market while reflecting the
Company's status as a FTSE listed company.

The Committee continues to be grateful for the feedback received and the
two-way engagement with shareholders, which was extensive prior to the AGM.
Given overall majority support was obtained for the remuneration resolutions,
it is not currently proposed to make any further changes to the approach to
Directors' remuneration that was set out in the 2022 Annual Report. The
Company will, however, continue to keep the Directors' Remuneration Policy
under review over the coming years and welcomes ongoing dialogue with
shareholders and proxy advisers.

[Daniel Fattal, Company Secretary]

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGZFLFXXELEBBE