6 Jun 2018 16:00
6 June 2018
GVC Holdings PLC
("GVC", the "Company")
2018 Annual General Meeting ("AGM") Results
At GVC's AGM held in Gibraltar today, all resolutions as set out in the Company's notice of AGM dated 23 April 2018, were approved.
The proxy votes lodged in respect of the AGM resolutions were as follows:
Ordinary Resolutions | Total | For | Against | Withheld | ||
Number | Votes Cast | Number | % of shares voted | Number | % of shares voted | Number |
1. To receive the Company's annual report and audited accounts for the year ended 31 December 2017
| 409,252,054 | 404,493,317 | 98.84 | 4,758,737 | 1.16 | 11,778 |
2. To approve the Directors' remuneration report for 2017 | 408,787,238 | 229,161,012 | 56.06 | 179,626,226 | 43.94 | 476,595 |
3. To re-appoint the auditor | 407,786,751 | 402,622,632 | 98.73 | 5,164,119 | 1.27 | 1,477,081 |
4. to authorise the Directors to agree the auditor's remuneration | 407,794,695 | 401,427,941 | 98.44 | 6,366,754 | 1.56 | 1,469,138 |
5. To re-elect Jane Anscombe
| 409,250,226 | 362,213,923 | 88.51 | 47,036,303 | 11.49 | 13,606 |
6. To re-elect Paul Bowtell as a Director | 409,246,894 | 401,332,397 | 98.07 | 7,914,497 | 1.93 | 16,939 |
7. To re-elect Kenneth Alexander as a Director
| 409,248,105 | 406,129,281 | 99.24 | 3,118,824 | 0.76 | 15,728 |
8. To re-elect Karl Diacono as a Director
| 407,025,396 | 363,291,106 | 89.26 | 43,734,290 | 10.74 | 2,238,436 |
9. To re-elect Lee Feldman as a Director | 403,869,833 | 366,258,625 | 90.69 | 37,611,208 | 9.31 | 5,393,999 |
10. To re-elect Peter Isola as a Director | 406,921,232 | 233,619,521 | 57.41 | 173,301,711 | 42.59 | 2,342,601 |
11. To re-elect Stephen Morana as a Director | 409,165,868 | 368,397,544 | 90.04 | 40,768,324 | 9.96 | 97,964 |
12. To re-elect Will Whitehorn as a Director | 409,239,365 | 368,353,062 | 90.01 | 40,886,303 | 9.99 | 24,468 |
13. To approve an update to the share allotment authority
| 409,228,484 | 351,235,948 | 85.83 | 57,992,536 | 14.17 | 35,349 |
Special Resolutions |
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14. To approve the disapplication of pre-emption rights
| 405,874,480 | 404,810,787 | 99.74 | 1,063,693 | 0.26 | 3,389,353 |
15. To renew the Company's share buy-back authority | 409,196,102 | 407,276,432 | 99.53 | 1,919,670 | 0.47 | 67,730 |
16. To approve amendments to the articles of association | 409,217,188 | 408,191,596 | 99.75 | 1,025,592 | 0.25 | 46,645 |
Note: As at 6 June 2018 GVC has 578,017,139 ordinary shares of €0.01 each in issue and the total number of voting rights is 578,017,139.
In response to the number of votes cast against Resolution 2 being defeated, GVC's Remuneration Committee Chair, Jane Anscombe said:
"The Remuneration Committee notes and is of course disappointed by the vote on Resolution 2. We acknowledge this feedback and thank those shareholders who have already spoken with us and explained their reasons for not being able to support this resolution. We have sought to balance the views we have heard from shareholders with the clear need to appropriately reward and retain our successful management team, and we are committed to continuing this dialogue with our shareholders."
In response to the voting result for Resolution 10, GVC's Chairman, Lee Feldman said:
"The Board has been made aware through communications during the voting process of shareholder concerns relating to Peter Isola's perceived independence. To address these concerns Peter will step down with immediate effect from the Remuneration Committee and we will engage with dissenting shareholders on this issue after we have reviewed the voting analysis."
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LEI: 213800GNI3K45LQR8L28
For further information:
GVC Holdings PLC |
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Kenneth Alexander, Chief Executive |
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Paul Bowtell, Chief Financial Officer |
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Nick Batram, Director of Investor Relations & External Communications |
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Paul Tymms, Head of Investor Relations | (investors@gvc-plc.com) |
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Media enquiries: |
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Buchanan Communications |
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David Rydell/Henry Harrison-Topham/Chris Lane | Tel: +44 (0) 20 7466 5000 |
About GVC
GVC Holdings PLC is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, PartyCasino and partypoker. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is now the UK's largest high street bookmaker, with over 3,500 betting shops. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 20 countries, across five continents.
For more information see the Group's website: www.gvc-plc.com