1st May 2018 15:40
LONDON (Alliance News) - Barclays PLC said Tuesday that all resolutions at its annual general meeting passed with large majorities.
Chief Executive Jes Staley was reappointed with 99.45% votes cast approving his extension. The lowest vote percentage achieved by a director was for the appointment of ex-Kingfisher CEO Ian Cheshire as director.
The lowest 'for' vote at the AGM was 88.48% shareholders allowing directors the authority to allot shares and securities.
Activist investor Edward Bramson took a 5.16% stake in the bank in March through vehicle Sherborne Investors Management, which was later upped to 5.41% shortly before the lender's first quarter results last week.
Barclays reported a loss for the first three months of the year after reaching a settlement with the US Department of Justice, and also taking provisions in the UK related to payment protection insurance claims.
The lender said total income for the first three months of the year fell to GBP5.36 billion from GBP5.82 billion, a reduction of 8%. Net operating income fell 4% to GBP5.07 billion.
The bank recorded a pretax loss of GBP236 million from a GBP1.68 billion profit a year before.
This was largely due to an increase in operating expenses, rising 47% in the period to GBP5.33 billion from GBP3.62 billion in 2017. Within this, litigation & conduct costs climbed sharply to GBP1.96 billion from GBP28 million last year.
Shares in Barclays were down slightly at 205.55 pence each.
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