Playtech Shareholders Oppose Remuneration Report, Object To Chairman

LONDON (Alliance News) - Playtech PLC said that the majority of shareholders opposed the ...

Alliance News 16 May, 2018 | 5:10PM
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LONDON (Alliance News) - Playtech PLC said that the majority of shareholders opposed the remuneration report at the annual general meeting of the gambling software firm on Wednesday as a significant minority voted against the reappointment of the chairman.

59.4% of shareholder votes cast were against the new remuneration report, with just 40.6% in favour. This was after Playtech's remuneration committee revised it in an attempt to balance the policy with "the need to retain and incentivise its leadership team."

At the same meeting, Playtech Chairman Alan Jackson and Remuneration Committee Chair John Jackson were re-elected with a slightly majority.

John Jackson was re-elected after 57.0% of shareholders votes were in favour and Alan Jackson with 64.8% of votes cast.

All the other resolutions - including re-elections - were passed with a majority of at least 93% in favour.

Playtech said on Wednesday it "intends to review the composition of its remuneration committee" and it is looking for potential new candidates to join the board.

"We have listened to our shareholders and we understand their concerns," Chairman Alan Jackson said. "We are committed to working with shareholders to address the issues raised going forward".

At the annual general meeting in 2017, 84% of shareholders voted in favour of a resolution to consider the company's revised remuneration policy.

Playtech shares closed 3.2% lower at 793.80 pence on Wednesday.

By Elena Cherubini; elenacherubini@alliancenews.com.

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Playtech PLC 815.00 GBX 1.82 -
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