Business
Result of EGM
Result of EGM.
About this update from Entain Plc
[{"type":"text","content":"\n \nRNS Number : 3718Z GVC Holdings PLC 14 December 2017 \n\n14 December 2017\n \nGVC Holdings PLC\n(\"GVC\", the \"Company\")\n \nExtraordinary General Meeting (\"EGM\") Results\n \nAt GVC's EGM held in Gibraltar today, all resolutions as set out in the Company's notice of EGM dated 21 November 2017, were approved. \n \nThe proxy votes lodged in respect of the EGM resolutions were as follows: \n \n\n\n\n\nOrdinary Resolutions \n\n\nTotal \n\n\nFor \n\n\nAgainst \n\n\nWithheld \n\n\n\n\nNumber \n\n\nVotes Cast \n\n\nNumber \n\n\n% of shares voted \n\n\nNumber \n\n\n% of shares voted \n\n\nNumber \n\n\n\n\n \n1. To approve the updated Directors' remuneration policy\n \n\n\n204,181,094\n\n\n148,035,292\n\n\n72.50%\n\n\n56,145,802\n\n\n27.50%\n\n\n11,018\n\n\n\n\n2. To approve the GVC Annual & Deferred Bonus Plan\n\n\n204,181,253\n\n\n150,330,551\n\n\n73.63%\n\n\n53,850,702\n\n\n26.37%\n\n\n10,859\n\n\n\n\n3. To approve the GVC 2017 Long Term Incentive Plan\n\n\n204,179,638\n\n\n179,413,463\n\n\n87.87%\n\n\n24,766,175\n\n\n12.13%\n\n\n12,474\n\n\n\n\nNote: As at 14 December 2017, GVC has 303,726,475 ordinary shares of €0.01 each in issue and the total number of voting rights is 303,726,475.\n \nIn response to the voting results, GVC's Remuneration Committee Chair, Jane Anscombe said:\n \n\"I am pleased shareholders have approved these remuneration resolutions, enabling the Company to move to the next stage of its corporate governance journey, adopting best practice remuneration and incentive practices whilst aiming to retain and incentivise GVC's successful management team. The feedback from the consultation with shareholders prior to the EGM notice being published demonstrated strong support for the direction and structure of the Company's future remuneration practices. The Remuneration Committee, through the extensive shareholder consultation exercise, knows why certain shareholders voted against the resolutions. The principal reason was that some shareholders disagreed with the Remuneration Committee's view that the maximum incentive levels proposed were necessary to incentivise and retain the Company's high performing management team, in a market where experienced and successful management are rare. The Remuneration Committee will re-engage with diss...