AGM UPDATE STATEMENT

RNS Number : 6320Z

IWG PLC

16 September 2022

 

IWG PLC

AGM UPDATE STATEMENT

In line with Provision 4 of the 2018 UK Corporate Governance Code (the "2018 Code"), the Board has released this statement to provide an update to shareholders on the actions taken following the outcome of resolution 2 at the 2022 AGM.

Throughout the year, and ahead of the AGM, the Company engaged with its shareholders to understand their views. We will continue to engage regularly with shareholders (including on the matters relating to the below resolution) and continue to consider their views in our decision making.

Resolu tion 2 - To approve the Directors' Remuneration Report on an advisory basis

While Resolution 2 to approve the Directors' Remuneration Report on an advisory basis was supported by a clear majority of our shareholders we acknowledge the significant minority vote against.

Prior to the AGM the Remuneration Committee consulted with shareholders and proxy advisors. The majority of shareholders who we engaged with were supportive of the rationale used by the Remuneration Committee in applying its discretion in respect of the Executive Director bonus outcome for 2021 but we recognise the views of some shareholders and proxy advisors who did not support our use of discretion. Overall the Remuneration  Committee believes that it acted fairly and appropriately in determining the bonus outcome for Executive directors in 2021.

Following the AGM, Nina Henderson, the Remuneration Committee Chair, and Douglas Sutherland, the Chairman, contacted major shareholders who had not supported our Remuneration Report to understand the reasons for their vote and to offer further engagement.

The Remuneration Committee will continue to consult with shareholders, as appropriate, in respect of the Company's ongoing remuneration practices.

 

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