UUÂãÁÄÖ±²¥

AGM season 2023—Week in review

FTSE 350 AGM developments from 08 June 2023 to 15 June 2023.*

The Market Tracker ‘AGM season 2023—Week in review’ series looks at key developments across the AGMs held each week. In this ninth update, the Market Tracker team reviews results from the five companies that held an AGM this week.

Meeting format tracker*

Key developments

Informa plc

• publishing company, Informa, saw 8% of shareholders voted against the re-election of John Rishton. Rishton has been Board Chair since June 2021 and is currently also Board Chair at Serco Group Plc and Audit & Risk Committee Chairman at Majid Al Futtaim Properties LLC

IP Group plc

• all resolutions at intellectual property company, IP Group’s AGM were passed duly on a poll. However, IP Group did experience 14% of shareholders voting against the directors’ remuneration report, which saw the directors’ remuneration increase by 4% despite the company reporting a of £344.5m in 2022. IP Group’s Annual Report stated that the company remained ‘r±ð²õ¾±±ô¾±±ð²Ô³Ù’ as it navigated its way through a series of ‘unanticipated events’ in 2022 such as geopolitical volatility and market disruption  

Shaftesbury Capital Plc (Shaftesbury)

• real estate investment trust, Shaftesbury, saw 10% of shareholders vote against the directors’ remuneration policy and 8% vote against the directors’ remuneration report respectively. The most significant change to the remuneration policy was to the annual bonus plan, whereby the amount deferred into shares has changed to 40% of the bonus
• Shaftesbury has ‘strong operating performance reflecting its exceptional qualities and long-term resilience’, with the company signing 173 leases in the first half of 2023. The company emphasised the importance of its stellar portfolio in London’s West End as key to its success

Significant no votes

Significant no votes will be tracked in the table below as the season progresses.

Failed resolutions

Failed resolutions will be tracked in the table below as the season progresses.

* statement of scope: AGM results must be released by 4pm on the day of publishing to be included. AGM results released after this time will be included in the following review

** the data tracked in this series will be updated weekly on an aggregate basis