FIRSTGROUP shareholders revolted over directors’ pay at the annual general meeting.
It was one of four resolutions that prompted more than 20 per cent of shareholders to vote against at the Scottish bus and rail company’s London AGM, with 24% rejecting approval of the directors’ remuneration report.
The AGM also saw 39.9% of the shareholders vote against re-electing Imelda Walsh as a director, and 37% against the re-election Jim Winestock as a director.
Nearly 23% voted against authorising the company to make political donations and incur political expenditure.
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Just over 15% voted against re-electing Martha Poulter and 16% against re-electing David Robbie, now interim chair, as directors. About 15% also voted against electing Steve Gunning as a director to the Aberdeen-based firm.
It said: “FirstGroup plc announces that all resolutions were duly passed by the company’s shareholders on a poll.
“The board notes that more than 20% of shareholders voted against four of the resolutions put to today’s meeting."
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It added: "The board takes seriously its responsibility to understand shareholders’ opinions and will continue to discuss investors’ views on these and other matters as part of our ongoing programme of engagement.
“As noted in our statement earlier today, overall trading in the first quarter has been in line and there is no change to our expectations for the current financial year.”
The company also earlier highlighted its wish to conclude the appointment of a new chairman as soon as possible.
In the weeks ahead of the AGM , Firstgroup also saw off an attempted boardroom coup by a US activist investor. Shares closed 2% up at 114.1p.
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