Approval of New Long-Term Incentive Plan

RNS Number : 7962M

Cineworld Group plc

25 January 2021

 

Cineworld Group plc
25 January 2021

Cineworld Group plc

Approval of New Long-Term Incentive Plan

Cineworld Group plc (the "Company") announces that the resolutions proposed to approve the new Cineworld Group plc Long-Term Incentive Plan 2021 (the "Plan") and consequential amendments to the Company's Remuneration Policy were passed as ordinary resolutions at the General Meeting held earlier today.

Alicja Kornasiewicz, Chair of Cineworld Group plc, commented:

"We are pleased that the Plan has been supported by a wide range of our shareholders.  We carried out an extensive consultation with shareholders before proposing the Plan and made amendments to reflect their feedback.  We are grateful for the constructive manner in which they engaged with us and the time that they took to consider the proposal. 

We acknowledge that there were a significant number of votes cast against the Plan and the Board will continue to engage with shareholders on remuneration matters in the coming months in light of the feedback received during our consultation. "

The number of votes for and against the Resolutions, and the number of votes withheld, were as follows:

Resolution	For		Against		% of issued share capital voted	Votes withheld
	Votes	%	Votes	%
1.  To approve the new Directors' Remuneration Policy	637,085,950	69.25%	282,835,313	30.75%	67.01%	168,554
2.  To approve the new Long-Term Incentive Plan	643,380,945	70.15%	273,724,194	29.85%	66.81%	176,138

Notes:

1)  The total number of shares in issue as at 25 January 2021 is 1,372,797,489.

2)  Percentages for and against are expressed as a proportion of the total votes cast.

3)  Where shareholders appointed the Chairman of the meeting as their proxy with discretion as to voting, those votes were cast in favour of the resolutions and are included in the total of those votes for.

4)  A 'vote withheld' is not a vote in law and is not counted in the calculation of the proportion of votes validly cast.

A copy of this announcement confirming the voting figures will be displayed shortly on the Company's website at www.cineworldplc.com.

For further details, please contact:

Cineworld Group plc Media Israel Greidinger Nisan Cohen Manuela Van Dessel [e-mail] 8th Floor, Vantage London Great West Road Brentford TW8 9AG James Leviton Rob Allen [e-mail] [phone]

 

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