20th Oct 2020 14:13
(Alliance News) - Cyber security services provider NCC Group PLC on Tuesday said a large number of investors voted against the remuneration report, although all resolutions proposed at the annual general meeting were approved.
The company's remuneration report, other than the remuneration policy, for the year ended May 31 saw 48% investors voting against the proposal, while 52% approved the policy. The remuneration policy saw 19% opposition, while 81% approved it.
All other resolutions proposed at the general meeting passed without significant investor opposition.
In response to opposition for remuneration report, NCC said a "vast majority" of top 25 investors agreed with the policy but a "significant minority" did not agree and the company will continue to "engage with shareholders to fully understand their concerns and will consider the full range of feedback".
Earlier, in its annual general meeting statement, NCC said it continues to trade ahead of the same period last year. Overall trading is in line with expectations, it said, noting that the range of outcomes for the full-year remain "unusually broad".
Chief Executive Adam Palser said: "We have had a positive start to the new financial year. Our balance sheet is strong, we are a growing and resilient global company with a dedicated team of cyber security experts and are well-placed to thrive as the economy recovers".
It expects to report half-year results for the six months to November 30 in early February 2021.
Shares in NCC were up 0.3% at 194.20 pence each in London on Tuesday afternoon.
By Tapan Panchal; [email protected]
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