Business
Results of AGM on 13 June 2024 – Update Statement
Results of AGM on 13 June 2024 – Update Statement.
About this update from Puretech Health Plc
[{"type":"text","content":"\n\n28 August 2024\nPureTech Health plc\n \nResults of Annual General Meeting on 13 June 2024 - Update Statement\n \nIn accordance with Provision 4 of the UK Corporate Governance Code, PureTech (\"PureTech\" or the \"Company\") today provides an update in respect of the results of its Annual General Meeting (AGM) held on June 13, 2024. While all resolutions were approved by shareholders, more than 20% of votes were cast against Resolutions 2, 3, 4 and 8, relating to the Directors' Remuneration Report, the revised Remuneration Policy, related changes to the Performance Share Plan (\"PSP\"), and the re-election of John LaMattina as a Director, respectively.\n \nConsistent with the Company's commitment to maintaining ongoing, transparent dialogue with its shareholders, the Company has actively engaged with shareholders throughout the year and in the lead up to the AGM, primarily as part of finalizing a revised Remuneration Policy. Since the AGM, the Board has taken further steps to understand the views of shareholders. Specifically, the Company wrote to shareholders representing more than 70% of the Company's issued share capital[1] to offer engagement with the Chair of the Board. Following that initial outreach, meetings were held with shareholders representing more than 50% of issued share capital1 during the months of July and August. While there were a variety of topics discussed during these engagements, there was broad recognition from shareholders regarding the rationale for the changes made to the Remuneration Policy and the implementation of the previous policy, particularly in relation to the challenges the Company faces as a UK-listed business competing for talent in the US where its operations are based.\n \nThe Board would like to thank the shareholders who have engaged with the Company during this process. The Board will continue to engage openly and constructively with shareholders as it continues to develop the Company's approach to governance, remuneration and reporting in the periods ahead.\n \nAbout PureTech Health\nPureTech is a clinical-stage biotherapeutics company dedicated to giving life to new classes of medicine to change the lives of patients with devastating diseases. The Company has created a broad and deep pipeline through its experienced research and development team...