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LONDON - Foxtons Group plc announced on Wednesday that several resolutions presented at its Annual General Meeting (AGM) held on May 7, 2025, received significant votes against, with two failing to pass.
According to the update, four resolutions faced opposition exceeding 20% of votes cast. Resolution 13, authorizing political donations and expenditure, passed with 75.40% support. Resolution 14, authorizing directors to allot ordinary shares, also passed with 67.50% in favor.
However, Resolutions 15 and 16, which sought to authorize the disapplication of pre-emption rights and additional disapplication of pre-emption rights respectively, failed to pass. These resolutions received 67.43% and 67.35% support, falling short of the required threshold for special resolutions.
Foxtons stated it has engaged with major shareholders who opposed the resolutions and noted that the significant votes against were attributable to shareholders’ policy positions rather than company-specific matters.
The company clarified that despite seeking authority for political donations, it "does not give any money for political purposes, nor does it make any donations to political organisations or incur political expenditure." The authorization was requested as a precautionary measure due to the broad definitions in the Companies Act 2006.
Regarding the failed pre-emption rights resolutions, Foxtons noted they were consistent with the Pre-Emption Group’s Statement of Principles and with the company’s approach at the previous AGM.
The board stated it remains committed to maintaining dialogue with shareholders and will engage proactively on corporate governance policies before the next AGM.
This information was provided in a press release statement from Foxtons Group plc.
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