Result of Meeting

RNS Number : 8790B

Liontrust Asset Management PLC

16 February 2022

 

LEI: 549300XVXU6S7PLCL855

FOR IMMEDIATE RELEASE

16 February 2022

Stock Exchange Announcement

LIONTRUST ASSET MANAGEMENT PLC

Result of General Meeting

At the General Meeting of Liontrust Asset Management Plc ("GM") held today, the two resolutions contained in the notice and put to the meeting were passed. The percentage of proxy votes cast in favour of each resolution was 54.06% and 55.59% respectively. An analysis of proxies votes received for the GM:

Resolution No.	Total Valid Proxies Received	Votes For		Votes Against		Votes Withheld1
1	46,573,087	24,896,831	54.06%	21,155,267	45.94%	520,989
2	46,573,087	24,976,302	55.59%	19,955,582	44.41%	1,641,203

¹ "Votes Withheld" is not a vote in law.

The full text of the resolutions passed at the General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

The Board of Liontrust strongly believes that retaining and appropriately incentivising an exceptional management team albeit on a highly competitive basis is in the best interests of all our stakeholders. As such, the Board was disappointed with the voting outturn with regards to the level of shareholder support of the Directors' Remuneration Policy (Resolution 1) and the adoption of the LTIP plan rules (Resolution 2).

Prior to the General Meeting, the Remuneration Committee (the "Committee") undertook extensive and positive engagement with our top 20 shareholders on the pay proposals for our Executive Directors. This included two rounds of engagement and consultation, and a number of amendments were made in response to these, among them the move to a more traditional annual LTIP structure rather than a one-off five-year plan and further stretch placed within the level of performance required to achieve maximum vesting under the LTIP. The Committee is committed to the highest levels of governance and reiterates that exceptional levels of short and long-term remuneration will only be received by the Executive Directors for exceptional corporate performance.

While the two resolutions were passed, the Remuneration Committee is acutely conscious of the votes against and will reflect on feedback from those shareholders. The Company will continue its policy of full transparency with proactive engagement with its shareholders on aspects of remuneration going forward. In line with the UK Corporate Governance Code, we will provide an update within six months of this General Meeting.

We thank all our shareholders for taking the time to consider the resolutions and providing feedback on our proposals.

For further information please contact:

Liontrust Asset Management Plc (Tel: [phone], Website: liontrust.co.uk)

John Ions: Chief Executive

Vinay Abrol: Chief Financial Officer & Chief Operating Officer

Simon Hildrey: Chief Marketing Officer

David Boyle: Head of Corporate Development

Singer Capital Markets (Tel: [phone])

Corporate Broking: Tom Salvesen

Corporate Finance: Justin McKeegan

Panmure Gordon (Tel: [phone])

Corporate Broking: Charles Leigh-Pemberton

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