6th Nov 2020 13:15
Foxtons Group PLC - London-focused estate agent - Posts update to shareholder consultation following result of May 13 annual general meeting, at which its directors' remuneration policy was approved by just 78% of shareholders. Notes that one of its largest shareholders was unable to cast all their votes in favour and, had they been able to do so, the resolution would have had well over 80% of votes in favour. Having determined why some shareholders opposed the policy, Foxtons has made changes to reflect feedback and will not propose additional changes, it says.
"The board believes the policy approved at the 2020 AGM is the best structure to provide strong alignment with shareholders' interests in a highly cyclical business such as Foxtons. We therefore still consider this policy to be in the best interests of the company and the shareholders, and do not intend to propose further changes to the policy at the 2021 AGM," Foxtons says.
Current stock price: 36.00 pence
Year-to-date change: down 59%
By Anna Farley; [email protected]
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