8th Aug 2019 17:01
(Alliance News) - Investec PLC said on Thursday that, at its annual general meeting, a considerable number of shareholders voted against the reappointment of KPMG Inc as a joint auditor.
At the meeting in London, 20% of shareholders voted against resolution 21, which proposed the reappointment of the professional services firm.
Resolution 13 and 14 saw 18% of shareholders vote against the directors' remuneration report and policy, while resolution 20 saw 17% vote against the re-appointment of Ernst & Young Inc as joint auditor.
Also, 19% of shareholders voted against resolution 36, which proposed political donations.
Despite the shareholder opposition, all resolutions were passed at the meeting.
Investec said it will continue to engage with shareholders over the vote turnout and consider the feedback in refining its policies and practices.
Shares in the financial services firm closed 1.5% higher at 433.1 pence in London, while in Johannesburg the shares closed 0.9% higher at ZAR78.90.
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