Plus500 is close to approving the Director's Remuneration Report, but it's notable that 54.88% of the vast majority voted no.

Online trading company Plus500 announced the results of the Annual General Meeting (AGM), at which each proposed resolution was voted on by-poll. Most of the resolutions (19 resolutions out of 20) were approved by a majority.

The resolution to "Approve the Directors' Remuneration Report" was turned away, as 54.88% of the total votes rejected the proposal. It should be noted, however, that the vote is only advisory, so the company does not need to take special action in response to shareholder reactions.

Several other resolutions also faced opposition. The proposed share allotment to Jacob A. Frenkel had 25.5% of the vote against it. Sigalia Heifetz's re-election proposal was also not accepted, as 20.68% of the vote refused it. In February 2021 Plus500 announced the appointment of Ms. Heifetz to the Board as Non-Executive Director.

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The company had the following comment:

"The Board of Plus500 notes that more than 20% of votes were cast against three resolutions. The Board takes these votes very seriously and will engage with shareholders and shareholder advisory bodies to ensure their feedback informs the Company’s future approach to governance and remuneration. In accordance with the UK Corporate Governance Code, an update on the feedback received from shareholders will be published by Plus500 during the next six months.

The Board remains fully committed to achieving the highest governance standards while recognizing the importance of providing the appropriate incentives to the Group’s Board and Executive management, who continue to drive the value of Plus500’s business for shareholders."