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Man Group PLC - London-based active investment management firm - Says that, with the exception of resolution 20, all resolutions presented at annual general meeting on Friday were passed. Notes that 74.65% of shareholders voted for and 25.35% voted against resolution 20 which relates to the disapplication of pre-emption rights in connection with the issue of shares for the purpose of an acquisition or specified capital investment. As a special resolution requiring a 75% majority, it did not receive enough support to pass.
"Although the company has sought, and received approval of, the same authority in previous years, we understand from recent discussions with some of the shareholders that did not support this resolution that they may prefer to have the opportunity to vote on specific proposals for a transaction requiring this level of pre-emptive issue. We will continue our dialogue with these shareholders and will take their views into account when considering our future plans," Man Group says.
Current stock price: 166.05 pence
Year-to-date change: up 20%
By Lucy Heming;Â lucyheming@alliancenews.com
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