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Metro Bank PLC (MTRO)

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Tuesday 21 May, 2019

Metro Bank PLC

Result of AGM

RNS Number : 7521Z
Metro Bank PLC
21 May 2019
 

Legal Entity Identifier: 213800X5WU57YL9GPK89

 

METRO BANK PLC
Result of AGM

21 May 2019: Metro Bank PLC (the "Company") announces that, at the Annual General Meeting of shareholders held earlier today, all resolutions were passed as follows.

 

RESOLUTION

VOTES
FOR

%

VOTES AGAINST

%

VOTES
TOTAL

% of ISC** VOTED

VOTES WITHHELD***

1

To receive the 2018 Annual Report and Accounts

69,007,702

92.27

5,783,553

7.73

74,791,255

76.77%

11,671

2

To approve the Annual Report on Remuneration section of the Directors Remuneration Report

58,189,686

79.33

15,165,144

20.67

73,354,830

75.30%

1,448,784

3

Re-election of Vernon W. Hill, II

62,497,410

87.70

8,763,400

12.30

71,260,810

73.15%

3,542,958

4

Re-election of Craig Donaldson

66,555,968

89.93

7,451,434

10.07

74,007,402

75.97%

796,367

5

Re-election of David Arden

66,496,950

88.91

8,293,786

11.09

74,790,736

76.77%

13,033

6

Re-election of Alastair Gunn

64,676,482

86.48

10,110,954

13.52

74,787,436

76.77%

16,333

7

Re-election of Stuart Bernau

53,231,904

71.93

20,775,088

28.07

74,006,992

75.97%

796,776

8

Re-election of Eugene Lockhart

53,321,609

71.98

20,752,935

28.02

74,074,544

76.04%

729,224

9

Re-election of Roger Farah

61,587,202

82.33

13,214,530

17.67

74,801,732

76.78%

2,037

10

Re-election of Sir Michael Snyder

66,363,003

88.74

8,424,413

11.26

74,787,416

76.77%

16,353

11

Re-election of Anna Melis

59,307,751

79.29

15,494,013

20.71

74,801,764

76.78%

1,984

12

Election of Catherine Brown

62,536,936

84.90

11,119,818

15.10

73,656,754

75.61%

1,147,016

13

Election of Paul Thandi

62,476,038

84.82

11,180,666

15.18

73,656,704

75.61%

1,147,066

14

Re-appointment of Auditor

66,834,276

91.83

5,943,423

8.17

72,777,699

74.70%

2,026,070

15

Remuneration of Auditor

68,324,007

92.78

5,319,100

7.22

73,643,107

75.59%

1,160,663

16

Maintain current variable reward cap

68,104,103

92.48

5,539,048

7.52

73,643,151

75.59%

1,160,619

17

Authority to allot shares

67,980,762

90.90

6,808,272

9.10

74,789,034

76.77%

14,736

18*

Authority to disapply pre-emption rights

68,120,120

91.10

6,653,082

8.90

74,773,202

76.75%

30,568

19*

Additional authority to disapply pre-emption rights

67,642,000

90.46

7,131,201

9.54

74,773,201

76.75%

30,517

20*

Authorise reduced notice of general meeting other than an AGM

68,433,430

91.50

6,355,696

8.50

74,789,126

76.77%

14,644

 

* Passed as a special resolution.

 

** Issued Share Capital

 

*** Votes 'withheld' have not been included in the calculation of whether a resolution is carried.  Percentages have been rounded to two decimal places.

 

A copy of the above results will shortly be available on the investor section of Metro Bank PLC 's website.

Further to today's AGM, in relation to Resolutions 2, 7, 8 and 11, whilst the majority supported we are disappointed that some of our shareholders opposed these resolutions. Shareholder feedback is important to us and we will continue to engage constructively with them over the coming months to fully understand the rationale for the opposition to these resolutions. An update on this consultation process will be made within six months of the AGM, in accordance with the UK Corporate Governance Code. We will acknowledge the feedback raised on our approach to remuneration going forward and will seek shareholder approval for a new Directors' Remuneration Policy at our AGM in 2020 in line with the normal cycle for renewal.

Enquiries

 

Metro Bank PLC                                                                 

 

David Arden

Company Secretary                                                                                07814 583 731

 


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