12th May 2016 11:13
LONDON (Alliance News) - The Restaurant Group PLC said 27% of shareholders voted against the directors' remuneration report at the company's annual general meeting on Thursday.
The owner of the Chiquito, Frankie & Benny's and Garfunkel's restaurant chains said 37.1 million votes were cast against the remuneration, while 101.3 million votes were cast for it. 12.9 million votes were withheld.
"The company understands that this reflects the concerns of a number of investors in respect of the termination arrangements for Alan Jackson and the level of the executive director annual bonus awards for 2015," Restaurant Group said in a statement.
Alan Jackson was Restaurant Group's non-executive chairman but retired at the AGM on Thursday.
"The remuneration committee will carry out a detailed review of all of the feedback received to understand fully all of the reasons behind the vote result so that it can reflect, where appropriate, in its approach going forward," the company added.
Shares in Restaurant Group were trading up 2.7% at 297.40 pence on Thursday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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