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LONDON - Plus500 Ltd (LON:PLUSP)., a global fintech group known for its online trading platforms, announced the results of its Annual General Meeting (AGM) held today. The company reported that all proposed resolutions, except for one advisory vote, passed with the required majorities.
The AGM saw a significant turnout, with over 62% of the issued share capital represented in the votes. Resolution 11, an advisory vote on the Directors’ Remuneration Report, did not pass, receiving 48.64% for and 51.36% against. Additionally, resolution 3, concerning the re-election of Steve Baldwin, faced substantial opposition, with 22.66% of votes against.
The Board acknowledged the dissent against resolutions 3 and 11, recognizing that over 20% of votes were cast contrary to the Board’s recommendation. In response, the Board plans to continue its engagement with shareholders and advisory bodies to address their concerns and incorporate feedback into the company’s governance and remuneration practices. Plus500 is committed to publishing the results of this engagement within the next six months, in line with the UK Corporate Governance Code.
The remaining resolutions, which included the re-election of other Board members, the re-appointment of auditors, amendments to the Articles of Association, and authorizations for equity issues and share purchases, were approved with majorities ranging from 77.34% to 96.30%.
This AGM comes after a period of regulatory compliance and expansion for Plus500, which holds operating licenses in multiple jurisdictions and offers a broad range of trading products. The company’s proprietary technology platforms support trading in various financial instruments, with a focus on customer care and risk management.
The full details of the AGM voting results are available on Plus500’s website. The resolutions that do not constitute ordinary business will also be accessible via the National Storage Mechanism in accordance with UK Listing Rule 6.4.2R.
The information reported is based on a press release statement from Plus500 and reflects the outcomes of the company’s AGM as of today.
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