Plus500, a contracts-for-differences (CFDs) broker based in London, announced the results of its annual general meeting on Tuesday. The firm stated that all of its resolutions passed, with a large majority of shareholders voting in favor of each.
The majority of the meeting’s resolutions pertained to the board of directors. Five votes were held, regarding five different board members, that decided whether or not they should be able to continue in their roles.
Most notable was the re-election of Penelope Judd to the board. Judd, who was appointed as chairman of the board and a non-executive director in April of last year, will continue in her role after receiving 99.61 percent of the vote in her favor.
Plus500’s CEO, Asaf Elimelech, will also stay on the board of directors. Elimelech was promoted to his current role in 2016, having previously headed up Plus500’s Australian operations. As with Judd, he received a sizeable proportion of ‘yes’ votes, with 98.36 percent of votes in support of his remaining on the board.
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Three other board members, Gal Haber, Elad Even-Chen and Steve Baldwin, were also given the go-ahead by shareholders to remain on the board. All three received close to 100 percent of the votes from shareholders in their favor.
Auditor push back
Of the eight resolutions raised, only two received any sizeable push back. The first of these was regarding the reappointment of auditors. A minority of votes, 26.67 percent, were against this resolution but this still constituted substantially more negative feedback than all of the other resolutions, bar one, that shareholders voted on.
The other resolution that received pushback was regarding the repurchase of shares. Just under a quarter of votes, 23.81 percent, were against this resolution.
Plus500 did not go into detail as to what it would do to ease the nerves of those shareholders who voted against the above two resolutions. Nonetheless, it did state that it would be listening to shareholder feedback regarding them and making further decisions based on that feedback.