19th Jul 2021 21:13
Biffa PLC - High Wycombe, England-based waste management company - Notes that most of the resolutions at its annual general meeting held on Monday were passed with significant majorities, but resolution 6 - related to re-election of Chair Ken Lever - was passed with the necessary majority but with less than 80% of support. The company says it has consulted and engaged with its shareholders since its AGM in July 2020, to better understand and discuss shareholder concerns regarding the resolution to re-elect the company's chair. Feedback was received that the votes against were influenced by the chair's board commitments not meeting numerical overboarding guidelines and the board not meeting gender diversity requirements of shareholders and proxy advisers.
"The board are of the firm view that the chair devotes more than sufficient time to his chair duties. However, recognising the concerns of some shareholders, the chair has committed to review his board appointments with a view to complying with numerical overboarding guidelines by the time of the company's AGM in July 2022," Biffa said.
Current stock price: 336.00 pence, closed up 2.9% on Monday
Year-to-date change: up 46%
By Evelina Grecenko; [email protected]
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