REG - Wizz Air Holdings - 2024 Annual General Meeting Update

Wizz Air HoldingsAnnouncement

31/03/2025 17:00

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RNS Number : 9921C  Wizz Air Holdings PLC  31 March 2025

Statement regarding Shareholder Consultation following the 2024 Annual General
Meeting

 

LSE: WIZZ

 

Geneva, 31 March 2025: At the Wizz Air Holdings Plc ("Wizz Air" or "the
Company") Annual General Meeting ("AGM") held on 25 September 2024, all
resolutions proposed were approved by shareholders. Two of those resolutions,
the Directors' Remuneration Policy, and Amendments to the rules of the Wizz
Air Omnibus Plan were supported by 65.58% and 67.77% of shareholders,
respectively. While they passed with the necessary majority, these resolutions
received less than the required percentage of votes.

 

Consequently, in accordance with the UK Corporate Governance Code, the Company
engaged with shareholders to solicit their feedback on voting at the AGM, in
particular on the resolutions referenced above.

 

Background

In advance of the 2024 AGM, the Chair of the Remuneration Committee and senior
management held meetings with key shareholders to understand any sentiment in
relation to proposed policy changes, and specifically regarding remuneration
and amendments to the rules of the Wizz Air Omnibus Plan.

 

Post AGM Engagement

While the Board recognises that the majority of shareholders approved all AGM
resolutions, in consultations following the AGM, the Company recognises that
certain shareholders had objected to some of the proposed changes. During
these discussions, the management team highlighted the rationale for the
adjustments to the plan to ensure effective incentives for the CEO.

Following the consultations, the Company is confident that the remuneration
issues appropriately rewarded management and aligned their interests with
those of the shareholders. With the closure of the consultations  and given
the absence of new feedback from shareholders who did not support the
resolutions, the Remuneration Policy and the Amendments to the Omnibus Plan
will be implemented on the terms approved by the shareholders at the AGM. The
Company will continue to engage on remuneration matters. The Board would like
to thank all shareholders that took part in engagement and values the feedback
and insight it has gained through the process.

 -Ends-

 

ABOUT WIZZ AIR

Wizz Air operates a fleet of 229 Airbus A320 and A321 aircraft. A team of
dedicated aviation professionals delivers superior service and very low fares,
making Wizz Air the preferred choice of 62.8 million passengers in 2024. Wizz
Air is listed on the London Stock Exchange under the ticker WIZZ. The company
was recently named one of the world's top five safest airlines by
airlineratings.com, the world's only safety and product rating agency, and
named Airline of the Year by Air Transport Awards in 2019 and in 2023. Wizz
Air has also been recognised as the "Most Sustainable Low-Cost Airline" within
the in 2021-2023 and "Best Airline for Carbon Reduction" by World Finance
Sustainability Awards in 2024. Wizz Air also received "EMEA's Environmental
Sustainability Airline Group of the Year" by the CAPA-Centre for Aviation
Awards for Excellence 2024.

 

For more information:

 Investors:  Mark Simpson, Wizz Air                                     +36 1 777 9407
             Beata Szanto, Wizz Air                                     investor.relations@wizzair.com
 Media:      Andras Rado, Wizz Air                                      communications@wizzair.com
             James McFarlane / Eleni Menikou/ Charles Hirst, MHP Group  wizz@mhpgroup.com

 

 

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