26th Feb 2020 16:07
(Alliance News) - SSP Group PLC on Wednesday said 31% shareholders voted against the approval of the directors remuneration report for financial 2019, although all resolutions were approved by investors at a general meeting.
SSP operates a number of food and drink brands at travel destinations such as train stations and airports, such as Upper Crust and Cafe Ritazza.
Responding to the results of the general meeting, SSP said: "Whilst we are disappointed by the outcome of the vote, we remain keen to encourage an ongoing dialogue with our shareholders and value active participation in that process. We will work together with our shareholders on our new remuneration policy which is expected to be tabled for approval at our 2021 annual general meeting".
Earlier on Wednesday, SSP said that February sales in the Asia Pacific region will be knocked by half due to the spread of the coronavirus and has forced the company into cost-cutting measures. The company said it has seen a 90% year-on-year slump in air passenger numbers in China, with Hong Kong roughly 70% lower.
The stock was trading 4.4% lower at 571.00 pence each on Wednesday afternoon in London.
By Ife Taiwo; [email protected]
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