GVC Holdings PLC 2018 Annual General Meeting Results (5503Q)

TIDMGVC

RNS Number : 5503Q

GVC Holdings PLC

06 June 2018

6 June 2018

GVC Holdings PLC

("GVC", the "Company")

2018 Annual General Meeting ("AGM") Results

At GVC's AGM held in Gibraltar today, all resolutions as set out in the Company's notice of AGM dated 23 April 2018, were approved.

The proxy votes lodged in respect of the AGM resolutions were as follows:

 
 Ordinary Resolutions    Total         For                     Against                 Withheld 
----------------------  ------------  ----------------------  ----------------------  ---------- 
 Number                  Votes Cast    Number        % of      Number        % of      Number 
                                                      shares                  shares 
                                                      voted                   voted 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 
   1. To receive 
   the Company's 
   annual report 
   and 
   audited accounts 
   for the year 
   ended 31 December 
   2017                  409,252,054   404,493,317     98.84     4,758,737      1.16      11,778 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 2. To approve 
  the Directors' 
  remuneration 
  report for 
  2017                   408,787,238   229,161,012     56.06   179,626,226     43.94     476,595 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 3. To re-appoint 
  the auditor            407,786,751   402,622,632     98.73     5,164,119      1.27   1,477,081 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 4. to authorise 
  the Directors 
  to agree the 
  auditor's 
  remuneration           407,794,695   401,427,941     98.44     6,366,754      1.56   1,469,138 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 
   5. To re-elect 
   Jane Anscombe         409,250,226   362,213,923     88.51    47,036,303     11.49      13,606 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 6. To re-elect 
  Paul Bowtell 
  as a Director          409,246,894   401,332,397     98.07     7,914,497      1.93      16,939 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 7. To re-elect 
  Kenneth Alexander 
  as a Director          409,248,105   406,129,281     99.24     3,118,824      0.76      15,728 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 
   8. To re-elect 
   Karl Diacono 
   as a Director         407,025,396   363,291,106     89.26    43,734,290     10.74   2,238,436 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 9. To re-elect 
  Lee Feldman 
  as a Director          403,869,833   366,258,625     90.69    37,611,208      9.31   5,393,999 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 10. To re-elect 
  Peter Isola 
  as a Director          406,921,232   233,619,521     57.41   173,301,711     42.59   2,342,601 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 11. To re-elect 
  Stephen Morana 
  as a Director          409,165,868   368,397,544     90.04    40,768,324      9.96      97,964 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 12. To re-elect 
  Will Whitehorn 
  as a Director          409,239,365   368,353,062     90.01    40,886,303      9.99      24,468 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 
   13. To approve 
   an update 
   to the share 
   allotment 
   authority             409,228,484   351,235,948     85.83    57,992,536     14.17      35,349 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 Special Resolutions 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 
   14. To approve 
   the disapplication 
   of pre-emption 
   rights                405,874,480   404,810,787     99.74     1,063,693      0.26   3,389,353 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 15. To renew 
  the Company's 
  share buy-back 
  authority              409,196,102   407,276,432     99.53     1,919,670      0.47      67,730 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 16. To approve 
  amendments 
  to the articles 
  of association         409,217,188   408,191,596     99.75     1,025,592      0.25      46,645 
----------------------  ------------  ------------  --------  ------------  --------  ---------- 
 

Note: As at 6 June 2018 GVC has 578,017,139 ordinary shares of EUR0.01 each in issue and the total number of voting rights is 578,017,139.

In response to the number of votes cast against Resolution 2 being defeated, GVC's Remuneration Committee Chair, Jane Anscombe said:

"The Remuneration Committee notes and is of course disappointed by the vote on Resolution 2. We acknowledge this feedback and thank those shareholders who have already spoken with us and explained their reasons for not being able to support this resolution. We have sought to balance the views we have heard from shareholders with the clear need to appropriately reward and retain our successful management team, and we are committed to continuing this dialogue with our shareholders."

In response to the voting result for Resolution 10, GVC's Chairman, Lee Feldman said:

"The Board has been made aware through communications during the voting process of shareholder concerns relating to Peter Isola's perceived independence. To address these concerns Peter will step down with immediate effect from the Remuneration Committee and we will engage with dissenting shareholders on this issue after we have reviewed the voting analysis."

- ends -

LEI: 213800GNI3K45LQR8L28

For further information:

 
GVC Holdings PLC 
Kenneth Alexander, Chief Executive 
Paul Bowtell, Chief Financial Officer 
 
Nick Batram, Director of Investor Relations & External Communications 
Paul Tymms, Head of Investor Relations                                   ([e-mail]) 
 
Media enquiries: 
Buchanan Communications 
David Rydell/Henry Harrison-Topham/Chris Lane                          Tel: [phone] 
 

About GVC

GVC Holdings PLC is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, PartyCasino and partypoker. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is now the UK's largest high street bookmaker, with over 3,500 betting shops. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 20 countries, across five continents.

For more information see the Group's website: www.gvc-plc.com

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June 06, 2018 11:00 ET (15:00 GMT)