Quilter Shareholders Rebel Against Two Resolutions At Meeting

LONDON (Alliance News) - Quilter PLC at its annual general meeting saw shareholders reject the ...

Alliance News 16 May, 2019 | 5:46PM
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LONDON (Alliance News) - Quilter PLC at its annual general meeting saw shareholders reject the dual-listed financial services firm's proposal to authorise directors to allot shares.

Shareholders also considerably disagreed with the proposal to authorise the company to make political donations.

Around 50% of Quilter's shareholders voted against resolution 19, which would allow the authorisation of directors to allot shares, meaning the resolution was rejected.

In addition, 24% of shareholders at the meeting voted against resolution 18, the proposal to make political donations.

Quilter said that it would continue to engage with shareholders to "better understand their concerns on both of these issues and, if possible, allay any such concerns for the future".

Concerning resolution 19, Quilter said: "Given this, the resolution received overwhelming support from our UK investors. However, certain overseas institutional investors, mainly in South Africa, have not supported this resolution and thus the resolution has been narrowly rejected".

Shares in Quilter closed 1.6% higher at 145.62 pence in London, while Johannesburg shares closed 1.1% higher at ZAR26.39 on Thursday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Quilter PLC Ordinary Shares 139.02 -
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