4th Jun 2019 16:48
LONDON (Alliance News) - Nostrum Oil & Gas PLC on Tuesday noted a "significant minority" of shareholders have rejected its remuneration report and policy.
At the annual general meeting held Tuesday, 25% of voting shareholders opposed the remuneration report, and 29% rejected the remuneration policy.
All votes, including those two, were passed by shareholders.
"The board of directors note resolutions two and three relating to the company's directors' remuneration report and directors' remuneration policy received votes of 75% and 71% respectively, in favour, but recognise a significant minority of shareholders voted against these resolutions," said Nostrum.
"The company intends to carry on an open dialogue and consultation with shareholders and their advisory bodies in order to better understand the reasons behind the result and to explain the company's position regarding the content of the directors' remuneration report and directors' remuneration policy."
Shares closed 1.8% higher on Tuesday afternoon at a price of 61.10 pence each.
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