Imperial Brands PLC Withdrawal of AGM resolution (2056V)

TIDMIMB

RNS Number : 2056V

Imperial Brands PLC

26 January 2017

26 January 2017

Imperial Brands PLC Directors' Remuneration Policy

The notice of annual general meeting (AGM) of Imperial Brands PLC (the Company) to be held on Wednesday 1 February 2017 includes at resolution 3 a proposal to adopt a new Directors' Remuneration Policy which amends the existing Directors' Remuneration Policy (the Proposal).

Following consultations with shareholders, the Company announces that it no longer intends to seek shareholders' approval for the Proposal at the AGM and that the Directors' Remuneration Policy and its associated metrics as approved by shareholders at the AGM held in 2015 will continue to apply.

Chairman Mark Williamson said: 'We have been actively engaging with shareholders for some time and while we received considerable support, it is clear that views have changed over that time and that the right course of action now is for the Board to withdraw the resolution.

'The Board continues to believe that revising the policy is necessary for retaining and attracting the right calibre of talent to ensure the continued sustainable growth of the business and we will reengage with shareholders to reach a consensus on this important issue.'

ENDS

Notes to editors

Imperial Brands, a FTSE 100 company headquartered in Bristol in the UK, is the parent company of a dynamic international business specialising in tobacco and non-tobacco brands. Its five distinct entities are Imperial Tobacco, Tabacalera, ITG Brands, Fontem Ventures and Logista.

 
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January 26, 2017 04:17 ET (09:17 GMT)