Last checked at 21 May 2019 16:15
Legal Entity Identifier: 213800X5WU57YL9GPK89
METRO BANK PLCResult of AGM
21 May 2019: Metro Bank PLC (the "Company") announces that, at the Annual General Meeting of shareholders held earlier today, all resolutions were passed as follows.
RESOLUTION | VOTESFOR | % | VOTES AGAINST | % | VOTESTOTAL | % of ISC** VOTED | VOTES WITHHELD*** | |
1 | To receive the 2018 Annual Report and Accounts | 69,007,702 | 92.27 | 5,783,553 | 7.73 | 74,791,255 | 76.77% | 11,671 |
2 | To approve the Annual Report on Remuneration section of the Directors Remuneration Report | 58,189,686 | 79.33 | 15,165,144 | 20.67 | 73,354,830 | 75.30% | 1,448,784 |
3 | Re-election of Vernon W. Hill, II | 62,497,410 | 87.70 | 8,763,400 | 12.30 | 71,260,810 | 73.15% | 3,542,958 |
4 | Re-election of Craig Donaldson | 66,555,968 | 89.93 | 7,451,434 | 10.07 | 74,007,402 | 75.97% | 796,367 |
5 | Re-election of David Arden | 66,496,950 | 88.91 | 8,293,786 | 11.09 | 74,790,736 | 76.77% | 13,033 |
6 | Re-election of Alastair Gunn | 64,676,482 | 86.48 | 10,110,954 | 13.52 | 74,787,436 | 76.77% | 16,333 |
7 | Re-election of Stuart Bernau | 53,231,904 | 71.93 | 20,775,088 | 28.07 | 74,006,992 | 75.97% | 796,776 |
8 | Re-election of Eugene Lockhart | 53,321,609 | 71.98 | 20,752,935 | 28.02 | 74,074,544 | 76.04% | 729,224 |
9 | Re-election of Roger Farah | 61,587,202 | 82.33 | 13,214,530 | 17.67 | 74,801,732 | 76.78% | 2,037 |
10 | Re-election of Sir Michael Snyder | 66,363,003 | 88.74 | 8,424,413 | 11.26 | 74,787,416 | 76.77% | 16,353 |
11 | Re-election of Anna Melis | 59,307,751 | 79.29 | 15,494,013 | 20.71 | 74,801,764 | 76.78% | 1,984 |
12 | Election of Catherine Brown | 62,536,936 | 84.90 | 11,119,818 | 15.10 | 73,656,754 | 75.61% | 1,147,016 |
13 | Election of Paul Thandi | 62,476,038 | 84.82 | 11,180,666 | 15.18 | 73,656,704 | 75.61% | 1,147,066 |
14 | Re-appointment of Auditor | 66,834,276 | 91.83 | 5,943,423 | 8.17 | 72,777,699 | 74.70% | 2,026,070 |
15 | Remuneration of Auditor | 68,324,007 | 92.78 | 5,319,100 | 7.22 | 73,643,107 | 75.59% | 1,160,663 |
16 | Maintain current variable reward cap | 68,104,103 | 92.48 | 5,539,048 | 7.52 | 73,643,151 | 75.59% | 1,160,619 |
17 | Authority to allot shares | 67,980,762 | 90.90 | 6,808,272 | 9.10 | 74,789,034 | 76.77% | 14,736 |
18* | Authority to disapply pre-emption rights | 68,120,120 | 91.10 | 6,653,082 | 8.90 | 74,773,202 | 76.75% | 30,568 |
19* | Additional authority to disapply pre-emption rights | 67,642,000 | 90.46 | 7,131,201 | 9.54 | 74,773,201 | 76.75% | 30,517 |
20* | Authorise reduced notice of general meeting other than an AGM | 68,433,430 | 91.50 | 6,355,696 | 8.50 | 74,789,126 | 76.77% | 14,644 |
* Passed as a special resolution.
** Issued Share Capital
*** Votes 'withheld' have not been included in the calculation of whether a resolution is carried. Percentages have been rounded to two decimal places.
A copy of the above results will shortly be available on the investor section of Metro Bank PLC 's website.
Further to today's AGM, in relation to Resolutions 2, 7, 8 and 11, whilst the majority supported we are disappointed that some of our shareholders opposed these resolutions. Shareholder feedback is important to us and we will continue to engage constructively with them over the coming months to fully understand the rationale for the opposition to these resolutions. An update on this consultation process will be made within six months of the AGM, in accordance with the UK Corporate Governance Code. We will acknowledge the feedback raised on our approach to remuneration going forward and will seek shareholder approval for a new Directors' Remuneration Policy at our AGM in 2020 in line with the normal cycle for renewal.
Enquiries
Metro Bank PLC
David Arden
Company Secretary 07814 583 731