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Last checked at 
24 May 2023 17:16
24 May 2023
Mortgage Advice Bureau (Holdings) plc ("MAB" or "the Company")
Result of AGM
At the Annual General Meeting ("AGM") of MAB, held earlier today at Capital House, Pride Place, DE24 8QR, all the resolutions put to the meeting were passed.
Summary of AGM Proxy Voting:
For information, the summary of the proxy voting is shown in the table below. The full text of the resolutions is shown in the Notice of the Annual General Meeting, which is available on the MAB website at www.mortgageadvicebureau.com/investor-relations and copies of all special resolutions will be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Resolutions | For | Against | Votes at Chair's Discretion | Abstain |
1. To receive the annual report and accounts for the year ended 31 December 2022. | 51,540,858 | 0 | 0 | 86,520 |
2. To approve the final dividend of 14.7 pence per ordinary share for the year ended 31 December 2022. | 51,625,778 | 0 | 0 | 1,600 |
3. To approve the Directors' remuneration report for the year ended 31 December 2022. | 26,258,785 | 21,108,556 | 0 | 4,260,037 |
4. To re-elect Katherine Innes Ker as a Director of the Company. | 49,311,962 | 2,312,979 | 0 | 2,437 |
5. To re-elect Peter Brodnicki as a Director of the Company. | 50,156,252 | 1,468,689 | 0 | 2,437 |
6. To re-elect Ben Thompson as a Director of the Company. | 51,484,205 | 140,736 | 0 | 2,437 |
7. To re-elect Lucy Tilley as a Director of the Company. | 51,427,477 | 140,464 | 57,000 | 2,437 |
8. To re-elect Nathan Imlach as a Director of the Company. | 51,147,277 | 477,664 | 0 | 2,437 |
9. To re-elect David Preece as a Director of the Company. | 50,155,586 | 1,468,961 | 0 | 2,831 |
10. To re-elect Mike Jones as a Director of the Company. | 51,146,464 | 477,664 | 0 | 3,250 |
11. To re-appoint BDO LLP as Auditors of the Company. | 51,559,208 | 64,232 | 0 | 3,938 |
12. To authorise the Company's Audit Committee to determine the remuneration of the Auditors. | 51,622,545 | 1,289 | 0 | 3,544 |
13. To authorise the Directors to allot shares in the Company. | 51,622,703 | 1,035 | 0 | 3,640 |
14. To disapply statutory pre-emption rights.* | 50,806,027 | 817,327 | 0 | 4,024 |
15. To disapply statutory pre-emption rights for an acquisition or specified capital investment.* | 50,806,027 | 817,327 | 0 | 4,024 |
The total number of ordinary shares eligible to vote as at 24 May 2023 is 57,127,034.
Board response to Resolution 3 - approval of the Directors' Remuneration Report
While the Board notes that all other resolutions were passed with strong majorities, we acknowledge that the advisory vote on the Directors' Remuneration Report was passed with 55.4%. We have consulted with a number of shareholders and understand that the payment of transaction bonuses was the element of the 2022 remuneration to which a significant number of shareholders objected. We have set out in the 2022 Directors' Remuneration Report the revised remuneration structure adopted from 2023 onwards, with a rebalancing of incentives in favour of longer term objectives, and confirm that in future, transaction bonuses will not be paid.
* indicates a special resolution
Enquiries:
Mortgage Advice Bureau (Holdings) plc | +44 (0)1332 525007 |
Peter Brodnicki, Chief Executive Officer Ben Thompson, Deputy Chief Executive Officer Lucy Tilley, Chief Financial Officer
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Nominated Adviser and Joint Broker: Numis Securities Limited Stephen Westgate / Giles Rolls
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+44 (0)20 7260 1000 |
Joint Broker: Peel Hunt LLP Andrew Buchanan / Mike Burke |
+44 (0) 20 7418 8900 |
Media Enquiries: investorrelations@mab.org.uk |
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