2022 AGM Update Statement

RNS Number : 3331E

Flutter Entertainment PLC

28 October 2022

 

28 October 2022

Flutter Entertainment plc ("Flutter")

2022 AGM Update Statement

At the Company's Annual General Meeting ("AGM") held on 28 April 2022, Resolution 2, an advisory vote to approve Flutter's Directors' Remuneration Report was passed with the necessary majority. However, while shareholder feedback to the consultation was positive, 32.45% of votes received were against.

We understand that a minority of shareholders had concerns with the level of base salary increases awarded and felt unable to vote in favour of the resolution on that basis. As disclosed in our 2021 Annual Report, the Remuneration Committee consulted widely with shareholders during 2021 on proposals that would bring the remuneration of our Executive team to a level that is competitive in both the current UK market and the wider international digital markets in which we now operate. The salary increases made were part of this plan and the Remuneration Committee and the Board continue to believe that these measures were appropriate and in the best interests of the Company.

The views of our shareholders are important to us and, following the AGM, Flutter continued to engage with our larger investors to fully understand their perspective in relation to Executive Director remuneration.  We are required to put our Remuneration Policy to a shareholder vote at the 2023 AGM and we have used these conversations to discuss our proposals for a new Policy and receive feedback which will help shape our final proposals.  Flutter will provide a final update in the 2022 Annual Report.

Enquiries:

Edward Traynor

Company Secretary

[phone]

 

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