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LONDON - InterContinental Hotels Group PLC (LSE:IHG) announced today that its Annual General Meeting (AGM) resolutions were all passed with majority votes. The meeting, which took place on Thursday, saw shareholders vote on a series of resolutions, including the approval of the company’s 2024 Report and Accounts and the Directors’ Remuneration Report.
The final dividend declaration received unanimous support, with 100% of votes in favor. Similarly, all directors up for re-election were approved by a large majority, with votes for ranging from 99.18% to 99.99%. The reappointment of the company’s auditor and the remuneration of the auditor also passed with nearly unanimous support.
However, there was less consensus on the Directors’ Remuneration Policy, which received 69.51% votes in favor and 30.49% against. The Directors’ Remuneration Report for 2024 saw 79.00% votes for and 21.00% against. These items, while approved, indicated a notable minority of dissenting votes.
Special resolutions concerning the disapplication of pre-emption rights and authority to purchase own shares were passed as well, with at least 87.09% and 99.85% of votes in favor, respectively.
The Board expressed its satisfaction with the outcomes and particularly thanked shareholders for their support of the Directors’ Remuneration Policy and Report. Recognizing the significance of the votes, the Board committed to continuing engagement with shareholders and proxy advisers on these matters. An update on this engagement and any actions taken as a result will be published within six months following the AGM, in line with the UK Corporate Governance Code.
The total number of voting rights in the company is 155,564,849, with a total issued share capital consisting of 161,771,631 ordinary shares, of which 6,206,782 are held in treasury. Resolutions concerning ordinary business will be submitted to the UK Listing Authority and made available for inspection.
This news is based on a press release statement from InterContinental Hotels Group PLC.
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