(Alliance News) - Hargreaves Lansdown PLC on Thursday said it withdrew an annual general meeting resolution on how it should handle its political donations.
The fund marketplace said: "Resolution 18 was withdrawn at the start of the meeting and accordingly no formal vote was held. We are consulting with shareholders in relation to this resolution."
According to the Daily Telegraph, the company removed the resolution in fear that it would be voted down by its founder and largest shareholder Peter Hargreaves.
Sources told the newspaper that Hargreaves, a staunch Brexit supporter, thinks the company should be able hold stronger political views.
Hargreaves, who donated to the Leave.EU pro-Brexit campaign, owns just over 32% of the FTSE 100 company, the Telegraph added.
All other motions were passed.
Shares in the company were 4.3% higher at 1,843.00 pence each in London on Friday.
By Eric Cunha; ericcunha@alliancenews.com
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