Mortgage Advice Bureau (Hldgs) PLC Result of AGM (5492A)

TIDMMAB1

RNS Number : 5492A

Mortgage Advice Bureau (Hldgs) PLC

24 May 2023

24 May 2023

Mortgage Advice Bureau (Holdings) plc ("MAB" or "the Company")

Result of AGM

At the Annual General Meeting ("AGM") of MAB, held earlier today at Capital House, Pride Place, DE24 8QR, all the resolutions put to the meeting were passed.

Summary of AGM Proxy Voting:

For information, the summary of the proxy voting is shown in the table below. The full text of the resolutions is shown in the Notice of the Annual General Meeting, which is available on the MAB website at www.mortgageadvicebureau.com/investor-relations and copies of all special resolutions will be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

 
Resolutions                     For       Against     Votes at     Abstain 
                                                       Chair's 
                                                      Discretion 
1. To receive the 
 annual report and 
 accounts for the 
 year ended 31 December 
 2022.                       51,540,858      0            0        86,520 
2. To approve the 
 final dividend of 
 14.7 pence per ordinary 
 share for the year 
 ended 31 December 
 2022.                       51,625,778      0            0         1,600 
3. To approve the 
 Directors' remuneration 
 report for the year 
 ended 31 December 
 2022.                       26,258,785  21,108,556       0       4,260,037 
4. To re-elect Katherine 
 Innes Ker as a Director 
 of the Company.             49,311,962  2,312,979        0         2,437 
5. To re-elect Peter 
 Brodnicki as a Director 
 of the Company.             50,156,252  1,468,689        0         2,437 
6. To re-elect Ben 
 Thompson as a Director 
 of the Company.             51,484,205   140,736         0         2,437 
7. To re-elect Lucy 
 Tilley as a Director 
 of the Company.             51,427,477   140,464      57,000       2,437 
8. To re-elect Nathan 
 Imlach as a Director 
 of the Company.             51,147,277   477,664         0         2,437 
9. To re-elect David 
 Preece as a Director 
 of the Company.             50,155,586  1,468,961        0         2,831 
10. To re-elect 
 Mike Jones as a 
 Director of the 
 Company.                    51,146,464   477,664         0         3,250 
11. To re-appoint 
 BDO LLP as Auditors 
 of the Company.             51,559,208    64,232         0         3,938 
12. To authorise 
 the Company's Audit 
 Committee to determine 
 the remuneration 
 of the Auditors.            51,622,545    1,289          0         3,544 
13. To authorise 
 the Directors to 
 allot shares in 
 the Company.                51,622,703    1,035          0         3,640 
14. To disapply 
 statutory pre-emption 
 rights.*                    50,806,027   817,327         0         4,024 
15. To disapply 
 statutory pre-emption 
 rights for an acquisition 
 or specified capital 
 investment.*                50,806,027   817,327         0         4,024 
 

The total number of ordinary shares eligible to vote as at 24 May 2023 is 57,127,034.

Board response to Resolution 3 - approval of the Directors' Remuneration Report

While the Board notes that all other resolutions were passed with strong majorities, we acknowledge that the advisory vote on the Directors' Remuneration Report was passed with 55.4%. We have consulted with a number of shareholders and understand that the payment of transaction bonuses was the element of the 2022 remuneration to which a significant number of shareholders objected. We have set out in the 2022 Directors' Remuneration Report the revised remuneration structure adopted from 2023 onwards, with a rebalancing of incentives in favour of longer term objectives, and confirm that in future, transaction bonuses will not be paid.

* indicates a special resolution

Enquiries:

 
Mortgage Advice Bureau (Holdings) plc            [phone] 
Peter Brodnicki, Chief Executive Officer 
 Ben Thompson, Deputy Chief Executive Officer 
 Lucy Tilley, Chief Financial Officer 
Nominated Adviser and Joint Broker: 
 Numis Securities Limited                            [phone] 
 Stephen Westgate / Giles Rolls                                1000 
Joint Broker: 
 Peel Hunt LLP                                      [phone] 
 Andrew Buchanan / Mike Burke                                  8900 
Media Enquiries: 
 [e-mail] 
 

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May 24, 2023 12:16 ET (16:16 GMT)