FOXT Foxtons Group Plc

TIDMFOXT

RNS Number : 5255E

Foxtons Group PLC

06 November 2020

Foxtons Group plc

("Foxtons" or the "Company")

Statement on 2020 Annual General Meeting Directors' Remuneration Policy Vote

At the Foxtons Group plc (the 'Company') Annual General Meeting (the 'AGM') held on 13 May 2020, Resolution 2, to approve the Directors' Remuneration Policy (the 'Policy'), was approved by a substantial majority of c.78% of shareholders. Furthermore, following the AGM it came to our attention that one of the Company's largest shareholders had been unable to cast all their votes in favour of Resolution 2 due to operational difficulties resulting from Covid-19. Had this shareholder been able to vote as intended, Resolution 2 would have obtained votes in favour of well over 80%.

In preparing the 2020 Directors' Remuneration Policy, the Remuneration Committee carried out an extensive shareholder consultation exercise with its largest shareholders and their representative bodies, the results of which fully are explained in the 2019 Annual Report. Following the consultation exercise some changes were made to the final Policy to reflect shareholder feedback and the Board has a clear understanding of the reasons why some shareholders were not supportive of the Policy. The Board believes the Policy approved at the 2020 AGM is the best structure to provide strong alignment with shareholders' interests in a highly cyclical business such as Foxtons. We therefore still consider this Policy to be in the best interests of the Company and the shareholders, and do not intend to propose further changes to the Policy at the 2021 AGM.

6 November 2020

For further information please contact:

 
 Foxtons Group plc 
 Chris Hough, Company Secretary 
  Muhammed Patel, Investor Relations    +44 20 7893 6261 
                                       ----------------- 
 

LEI: 5493001HCMG6R1MYKC59

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RAGFSEFSMESSEDF

(END) Dow Jones Newswires

November 06, 2020 05:33 ET (10:33 GMT)

Foxtons (LSE:FOXT)
Historical Stock Chart
From May 2024 to Jun 2024

Foxtons (LSE:FOXT)
Historical Stock Chart
From Jun 2023 to Jun 2024