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LONDON - Convatec Group Plc, a global medical products and technologies company, announced the results of its Annual General Meeting (AGM) held on Thursday, with all proposed resolutions passed by shareholders. While the majority of resolutions at the AGM received near-unanimous support, some, such as the Directors’ Remuneration Policy and the Convatec Group Omnibus Incentive Plan, faced notable opposition.
Resolution 3, which sought approval for the new Remuneration Policy, received 67.04% votes in favor, with a significant 32.96% voting against. Similarly, Resolution 16 regarding the Omnibus Incentive Plan was approved with 75.64% of the votes, while 24.36% of shareholders voted against it.
Despite the dissent, the resolutions to re-elect board directors were passed with high approval rates, all receiving over 98% support. Additionally, the resolution to declare a final dividend and to re-appoint Deloitte LLP as auditors were unanimously approved.
The board acknowledged the lower levels of support for certain resolutions and committed to ongoing engagement with investors, promising to provide an update within six months in line with the UK Corporate Governance Code.
The AGM saw a high turnout, with 90.80% of the total issued share capital being voted. Computershare acted as the scrutineer for the poll on all resolutions.
Convatec, with revenues over $2 billion in 2024 and a presence in approximately 90 countries, is part of the FTSE 100 Index. The company’s focus is on products for the management of chronic conditions, including Advanced Wound Care, Ostomy Care, Continence Care, and Infusion Care.
The company’s statement highlighted its commitment to improving lives through its medical solutions and noted the support received for the resolutions. Further details of the resolutions that do not constitute ordinary business have been submitted to the National Storage Mechanism and are available for public inspection.
This report is based on a press release statement from Convatec Group Plc.
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