Result of AGM

RNS Number : 6348I

GVC Holdings PLC

20 June 2017

 

GVC Holdings PLC

("GVC", the "Company")

2017 Annual General Meeting ("AGM") Results

At GVC's AGM held in Gibraltar today, all resolutions as set out in the Company's notice of AGM dated 26 April 2017, were approved. 

The proxy votes lodged in respect of the AGM resolutions were as follows:

Ordinary Resolutions	Total	For		Against		Withheld
Number	Votes Cast	Number	% of shares voted	Number	% of shares voted	Number
1. To receive the Company's annual report and audited accounts for the year ended 31 December 2016	226,106,777	224,727,274	99.39%	1,379,503	0.61%	1,475,377
2. To approve the Directors' remuneration report for 2016	227,580,260	129,532,003	56.92%	98,048,257	43.08%	1,894
3. To approve the Directors' remuneration policy	227,576,480	205,214,885	90.17%	22,361,595	9.83%	5,674
4. To re-appoint the auditor and authorise the Directors to set the auditor's  remuneration	227,578,095	220,895,114	97.06%	6,682,981	2.94%	4,059
5. To re-elect Paul Miles as a Director	227,582,128	220,414,076	96.85%	7,168,052	3.15%	26
6. To re-elect Will Whitehorn as a Director	227,582,128	227,367,086	99.91%	215,042	0.09%	26
7. To re-elect Kenneth Alexander as a Director	227,582,128	225,243,475	98.97%	2,338,653	1.03%	26
8. To re-elect Karl Diacono as a Director	226,184,548	183,877,603	81.30%	42,306,945	18.70%	1,397,605
9. To re-elect Lee Feldman as a Director	223,512,191	210,318,157	94.10%	13,194,034	5.90%	4,069,963
10. To re-elect Peter Isola as a Director	222,149,658	183,461,548	82.58%	38,688,110	17.42%	5,432,495
11. To re-elect Stephen Morana as a Director	227,525,447	217,526,726	95.61%	9,998,721	4.39%	56,707
12. To re-elect Norbert Teufelberger as a Director	227,443,494	215,861,536	94.91%	11,581,958	5.09%	138,660
13. To approve an update to the share allotment authority	227,579,833	192,963,500	84.79%	34,616,333	15.21%	2,321
Special Resolutions
14. To approve the disapplication of pre-emption rights	224,111,061	224,091,376	99.99%	19,685	0.01%	3,471,093
15. To renew the Company's share buy-back authority	227,580,585	226,313,128	99.44%	1,267,457	0.56%	1,569

Note: As at 20 June 2017 GVC has 300,668,046 ordinary shares of €0.01 each in issue and the total number of voting rights is 300,668,046.

In response to the number of votes cast against Resolution 2, GVC's Chairman, Lee Feldman said:

"It should be recognised that the remuneration arrangements disclosed in the 2016 Directors' remuneration report were agreed when GVC was AIM-listed and fully disclosed in our 2015 prospectus, with more than 95% of GVC's shareholders approving our long-term incentive plan arrangements in December 2015.  In addition, today's result needs to be seen in the context of the large support for resolution 3, GVC's remuneration policy, which is more representative of our current and future philosophy.  Acknowledging that investors in FTSE250 companies can have different expectations on executive remuneration, GVC's Remuneration Committee has already embarked on developing a new remuneration policy with its independent remuneration consultant and we have disclosed publicly our aim of consulting with our major shareholders on this matter by October 2017.  This process will be led by Jane Anscombe, appointed today an independent Non-executive Director and the new Chair of the Remuneration Committee.  Jane will be supported in the consultation by GVC's Senior Independent Director, Will Whitehorn."  

Enquiries:

Robert Hoskin, Company Secretary                     [phone]

GVC Holdings PLC

 

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