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HAMILTON, Bermuda - Hiscox (LON:HSX) Ltd, the international specialist insurer, announced that its shareholders approved all resolutions presented at the Annual General Meeting (AGM) held on Thursday. The company confirmed that the proposals, including the adoption of the annual accounts, director appointments, and dividend schemes, received overwhelming support.
The meeting saw the reappointment of PricewaterhouseCoopers LLP as auditors, with nearly unanimous approval, and the authorization of the Directors to allot shares and dis-apply pre-emption rights, albeit with a lesser majority for the latter.
Among the resolutions, the approval of the final dividend for the year ending December 31, 2024, and the 2025 Scrip Dividend Scheme were passed with 100% of the votes cast in favor. This reflects the company’s consistent dividend policy and the option for shareholders to receive dividends in the form of additional shares.
The remuneration report, a key indicator of shareholder sentiment on executive pay, was passed with 96.55% voting in favor, indicating strong support for the company’s compensation policies.
In director-related votes, Lynne Biggar, June Felix, and Joanne Musselle were appointed with full backing, while other directors, including Jane Guyett and Michael Goodwin, were re-appointed with over 98% support.
The resolution to authorize the company to purchase its own shares also passed with full support, suggesting a shareholder mandate for potential buyback activities.
The only resolutions to receive less than 95% support were those related to the dis-application of pre-emption rights, with 93.66% in favor of the standard dis-application and 90.76% for an additional 10% of share capital. These resolutions allow the Directors to issue new shares without offering them to existing shareholders first, up to a specified limit.
The results of the AGM, including the proxy votes, are set to be made available on the National Storage Mechanism, providing transparency for stakeholders and interested parties.
This information is based on a press release statement and reflects the outcomes of the AGM as reported by Hiscox Ltd.
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