REG - Metro Bank PLC - Result of AGM

Metro Bank HoldingsAnnouncement

21/05/2019 16:20

RNS Number : 7521Z
Metro Bank PLC
21 May 2019
 


Legal Entity Identifier: 213800X5WU57YL9GPK89
 
METRO BANK PLC

Result of AGM
21 May 2019: Metro Bank PLC (the "Company") announces that, at the Annual General Meeting of shareholders held earlier today, all resolutions were passed as follows.
 



RESOLUTION


VOTES

FOR


%


VOTES AGAINST


%


VOTES

TOTAL


% of ISC** VOTED


VOTES WITHHELD***




1


To receive the 2018 Annual Report and Accounts


69,007,702


92.27


5,783,553


7.73


74,791,255


76.77%


11,671




2


To approve the Annual Report on Remuneration section of the Directors Remuneration Report


58,189,686


79.33


15,165,144


20.67


73,354,830


75.30%


1,448,784




3


Re-election of Vernon W. Hill, II


62,497,410


87.70


8,763,400


12.30


71,260,810


73.15%


3,542,958




4


Re-election of Craig Donaldson


66,555,968


89.93


7,451,434


10.07


74,007,402


75.97%


796,367




5


Re-election of David Arden


66,496,950


88.91


8,293,786


11.09


74,790,736


76.77%


13,033




6


Re-election of Alastair Gunn


64,676,482


86.48


10,110,954


13.52


74,787,436


76.77%


16,333




7


Re-election of Stuart Bernau


53,231,904


71.93


20,775,088


28.07


74,006,992


75.97%


796,776




8


Re-election of Eugene Lockhart


53,321,609


71.98


20,752,935


28.02


74,074,544


76.04%


729,224




9


Re-election of Roger Farah


61,587,202


82.33


13,214,530


17.67


74,801,732


76.78%


2,037




10


Re-election of Sir Michael Snyder


66,363,003


88.74


8,424,413


11.26


74,787,416


76.77%


16,353




11


Re-election of Anna Melis


59,307,751


79.29


15,494,013


20.71


74,801,764


76.78%


1,984




12


Election of Catherine Brown


62,536,936


84.90


11,119,818


15.10


73,656,754


75.61%


1,147,016




13


Election of Paul Thandi


62,476,038


84.82


11,180,666


15.18


73,656,704


75.61%


1,147,066




14


Re-appointment of Auditor


66,834,276


91.83


5,943,423


8.17


72,777,699


74.70%


2,026,070




15


Remuneration of Auditor


68,324,007


92.78


5,319,100


7.22


73,643,107


75.59%


1,160,663




16


Maintain current variable reward cap


68,104,103


92.48


5,539,048


7.52


73,643,151


75.59%


1,160,619




17


Authority to allot shares


67,980,762


90.90


6,808,272


9.10


74,789,034


76.77%


14,736




18*


Authority to disapply pre-emption rights


68,120,120


91.10


6,653,082


8.90


74,773,202


76.75%


30,568




19*


Additional authority to disapply pre-emption rights


67,642,000


90.46


7,131,201


9.54


74,773,201


76.75%


30,517




20*


Authorise reduced notice of general meeting other than an AGM


68,433,430


91.50


6,355,696


8.50


74,789,126


76.77%


14,644



 
* Passed as a special resolution.
 
** Issued Share Capital
 
*** Votes 'withheld' have not been included in the calculation of whether a resolution is carried.  Percentages have been rounded to two decimal places.
 
A copy of the above results will shortly be available on the investor section of Metro Bank PLC 's website.
Further to today's AGM, in relation to Resolutions 2, 7, 8 and 11, whilst the majority supported we are disappointed that some of our shareholders opposed these resolutions. Shareholder feedback is important to us and we will continue to engage constructively with them over the coming months to fully understand the rationale for the opposition to these resolutions. An update on this consultation process will be made within six months of the AGM, in accordance with the UK Corporate Governance Code. We will acknowledge the feedback raised on our approach to remuneration going forward and will seek shareholder approval for a new Directors' Remuneration Policy at our AGM in 2020 in line with the normal cycle for renewal.
Enquiries
 
Metro Bank PLC                                                                 
 
David Arden
Company Secretary                                                                                07814 583 731
 




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.
 
END
 
 
RAGMMGZKKMZGLZM