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LONDON - Harworth Group plc (LSE:HWG) announced Wednesday that its directors' remuneration policy has received sufficient shareholder support to continue operating despite receiving a relatively narrow approval margin at its Annual General Meeting.
The policy, which includes a performance-flexed Restricted Share Plan, was approved by 75.67% of shareholders at the company's AGM held on May 19, 2025. While this exceeded the required threshold for implementation, the approval percentage triggered additional engagement requirements under the UK Corporate Governance Code.
Following the vote, Harworth's Remuneration Committee conducted further consultations with shareholders who had previously participated in an eight-month engagement process prior to the AGM. According to the company, shareholders who responded to post-AGM outreach "re-affirmed their previous views and did not consider further engagement necessary."
The company noted that its pre-AGM consultation had involved shareholders representing approximately 85% of Harworth's issued share capital, as well as proxy agencies. During these discussions, the company reported that "a significant majority of shareholders consulted were supportive of the structure" of the performance-flexed Restricted Share Plan.
Harworth, which specializes in regeneration and strategic land development focused on the Industrial & Logistics and Residential sectors, stated it will provide a final update on the remuneration policy vote in its 2025 Directors' Remuneration Report.
This information is based on a press release statement from the company.
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