WICKES GROUP PLC: Update on Response to Voting Outcome (1243350)
October 26 2021 - 1:15AM
UK Regulatory
WICKES GROUP PLC (WIX) WICKES GROUP PLC: Update on Response to
Voting Outcome 26-Oct-2021 / 07:15 GMT/BST Dissemination of a
Regulatory Announcement, transmitted by EQS Group. The issuer is
solely responsible for the content of this announcement.
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Wickes Group PLC
(the 'Company')
Update on Response to Voting Outcome
At the General Meeting of Travis Perkins plc ("Travis Perkins")
held on 27 April 2021, 3 resolutions were put to shareholders of
Travis Perkins in relation to the proposed demerger of Wickes Group
plc ("Wickes"). In response to the voting outcome on Resolution 3,
approval of Wickes share plans, Wickes is providing an update to
the statement made by Travis Perkins after the vote.
The Wickes Board was naturally disappointed with the overall
voting outcome of 55.27% in favour of the resolution to approve
Wickes share plans. In addition to engaging with shareholders ahead
of the vote, the Chair of the Wickes Group plc Remuneration
Committee invited a number of the Company's larger shareholders
(representing around 60% of the Company's shares) to engage with
him after the vote to fully understand their concerns. These
engagements provided a helpful opportunity to clarify the proposals
with shareholders including the proposals in relation to the
transitional awards and associated performance hurdles.
The Remuneration Committee would like to thank shareholders that
took part in the engagement process and values the feedback and
insights it has gained. In line with best practice, it remains
committed to engaging proactively with shareholders and advisory
bodies on remuneration matters and the Chair of the Remuneration
Committee is currently consulting with shareholders on the
Company's Remuneration Policy which will be put to a binding vote
at the Company's first AGM in 2022.
A further update on this matter will be included in the Wickes
Group plc 2021 Annual Report.
For further information please contact:
Marianne Phillips
Assistant Company Secretary
Tel: (44) 7552 211056
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ISIN: GB00BL6C2002
Category Code: MSCL
TIDM: WIX
LEI Code: 213800IEX9ZXJRAOL133
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 125154
EQS News ID: 1243350
End of Announcement EQS News Service
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