REG - M&C Saatchi PLC - Update in relation to 2023 Annual General Meeting

M&C SaatchiAnnouncement

14/12/2023 15:45

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RNS Number : 8854W  M&C Saatchi PLC  14 December 2023

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

 

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