Metro Bank Regulatory News (MTRO)

Legal Entity Identifier: 213800X5WU57YL9GPK89

Metro Bank plc (the "Company")

NOTICE OF 2020 ANNUAL GENERAL MEETING

AND UPDATE ON BOARD CHANGES

Today, the Company has published notice of its 2020 Annual General Meeting ('AGM') to Shareholders (the 'Notice') which is available to view in the Investor Relations section of the Company's website at www.metrobankonline.co.uk.

The AGM will be held at First Floor, One Southampton Row, London WC1B 5HA on Tuesday 26 May 2020 at 2.00pm (BST).

Physical Attendance at the AGM

We value the opportunity that the AGM brings to interact with our shareholders. However, in light of the ongoing developments of the COVID-19 virus and in order to comply with the Government's stay at home measures and restrictions on gatherings and non-essential travel, shareholders (other than those required to meet a quorum and conduct the business of the meeting) are not permitted to attend this year's AGM in person.

Audio Access

As physical attendance at this year's AGM is not possible, we invite shareholders to dial in and listen to the AGM, which will be accessible live via listen-only audio on the day by using the following web link: https://secure.emincote.com/client/metrobank/metrobank001/vip_connect. An audio recording of the AGM will also be available on our website for 30 days after the meeting for those who are unable to dial in on the day.

The safety of our colleagues and shareholders is our paramount concern. Prohibiting attendance at this year's AGM is necessary and appropriate in order to comply with government guidelines. Please do not travel to the meeting as you will not be permitted to enter the building.

Shareholder Questions

We value the opportunity to engage with our shareholders. To encourage engagement, shareholders can submit questions to the Company in advance, and by no later than 2:00pm (BST) on 19 May 2020, by emailing companysecretary@metrobank.plc.uk. Where possible, questions received by verified shareholders within the time prescribed will be addressed by the Chair of the meeting after the formal AGM business has ended.

Voting

It is as important as ever that shareholders cast their votes in respect of the business of the AGM. This year, if you want your vote to count, you must vote ahead of the meeting as it will not be possible to do so in person at the AGM. Advance voting must be done by completing a proxy form, submitting proxy instructions electronically or casting your votes through the medium attributable to the way that you hold your shares. Further information on this is included in the Notice of Meeting and on your Form of Proxy. We strongly encourage you to vote as early as possible.

If appointing a proxy, shareholders are also strongly encouraged to appoint the "Chair of the meeting" to ensure their appointed proxy is present and can vote on their behalf.

National Storage Mechanism

In accordance with the Listing Rules, a copy of each of the documents below have been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM:

· Notice of the 2020 AGM

· Proxy Form and combined Notice of Availability of Shareholder Documents

Printed copies of the Notice and associated documents will be dispatched to those shareholders who have elected to receive paper communications.

Update on Board and Committee Changes

Further to previously announced board changes, we confirm that Gene Lockhart stepped down as Non-Executive Director of the Board on 28 April 2020.

We also confirm the following Committee changes:

· Independent Non-Executive Director Ian Henderson will take over as Chair of the Risk Oversight Committee with effect from 1 May 2020, subject to regulatory approval;

· Independent Non-Executive Director Anne Grim will join the Audit Committee membership with effect from 1 May 2020;

· Independent Non-Executive Director Nicholas Winsor will join the Risk Oversight Committee membership with effect from 18 May 2020; and

· As reported in the Annual Report, Sally Clark will take over as Director for Workforce Engagement with effect from 19 May 2020.

Update on Directors' fees and salaries in relation to the COVID-19 pandemic

The Board has agreed the following amendments to fees and salaries effective 1 May 2020:

· Non-Executive Director fees will be reduced by 20% for a period of three months, with a review thereafter; and

· Executive Director salaries will be reduced by 10% with a further 10% deferment for a period of three months, with a review thereafter.

Enquiries

For further information on this announcement, please contact:

Metro Bank PLC

Investor Relations

Jo Roberts

+44 (0)20 3402 8900

IR@metrobank.plc.uk 

Media Relations

Tina Coates / Abigail Whittaker

+44 (0)7811 246016 / +44 (0)7989 876136

pressoffice@metrobank.plc.uk

Teneo

Charles Armitstead / Haya Herbert‐Burns

+44 (0) 7703 330269 / +44 (0) 7342 031051

Metrobank@teneo.com 

About Metro Bank

Metro Bank is celebrated for its exceptional customer experience. Its mobile app and online service achieved the top spot in the Competition and Market Authority's Service Quality Survey among personal and business current account holders in February 2020; the bank also ranked in the top two for overall service and store service for personal and business customers. It was awarded 'Best All Round Personal Finance Provider' at the Moneynet Personal Finance Awards 2019.

Offering retail, business, commercial and private banking services, it prides itself on giving customers the choice to bank however, whenever and wherever they choose. Whether that's through its network of stores open seven days a week, early until late, 362 days a year; on the phone through its UK-based 24/7 contact centres; or online through its internet banking or award-winning mobile app: the bank offers customers real choice.

The bank employs around 3,500 colleagues and is headquartered in Holborn, London.

Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trademark of Metro Bank PLC.

It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk.

All Metro Bank products are subject to status and approval.

Metro Bank PLC is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.