REG - Quilter PLC - 2023 AGM Update Statement

QuilterAnnouncement

10/11/2023 11:00

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RNS Number : 1027T  Quilter PLC  10 November 2023

Friday 10 November 2023

 

Quilter plc

 

Update Statement with respect to 2023 Annual General Meeting Resolution Vote

 

At our AGM held on 18 May 2023, resolution 16, which sought authorisation for
political donations or expenditure, passed with the requisite majority of
votes, however 25% of the votes cast were against the resolution.

 

As we reported following the 2022 AGM, there was a significant difference in
voting between the South African and UK share registers on this resolution
with 58.88% and 99.92% support respectively. In line with provision 4 of the
UK Corporate Governance Code, we have continued to directly engage, as we have
done since Listing in 2018, with our largest South African shareholders on
this resolution to further understand their views. We do believe our South
African shareholders now have a better understanding of the purpose of this
resolution however we continue to recognise that in a current South African
governance context, any linkage between business and politics is sensitive.
Quilter has no intention of undertaking political donations and has not done
so since Listing but, in line with other listed UK companies, has sought such
authority to avoid any inadvertent breaches of UK company law given the
breadth of the applicable provisions.  We understand the importance of
continuing dialogue and effective communication with our shareholders to
ensure that it is clear that the Board believe that this authority is simply a
precautionary measure to ensure that the Company (and its subsidiaries) does
not inadvertently breach in the UK, South Africa or anywhere else in the world
UK company law. We will also continue to explain clearly the reasons why the
Board believe this resolution is an important protection for the Company in
the 2024 Notice of Annual General Meeting.

 

-ends-

 

Enquiries:

 

 Investor Relations:

 John-Paul Crutchley   +44 (0) 20 7002 7016

 Company Secretary:

 Clare Barrett         +44 (0) 20 7002 7072

 

About Quilter plc:

Quilter plc is a leading UK-centric wealth management business, helping to
create prosperity for the generations of today and tomorrow.

 

Quilter oversees £101.4 billion in customer investments (as at 30 September
2023).

 

It has an adviser and customer offering spanning financial advice, investment
platforms, multi-asset investment solutions, and discretionary fund
management.

 

The business is comprised of two segments: Affluent and High Net Worth.

 

Affluent encompasses the financial planning businesses, Quilter Financial
Planning, the Quilter Investment Platform and Quilter Investors, the
Multi-asset investment solutions business.

 

High Net Worth includes the discretionary fund management business, Quilter
Cheviot, together with Quilter Private Client Advisers.

 

 

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