Steve Baldwin will continue to be the Non-Executive Director and Chair of the ESG Committee.
Although more than 20 percent of shareholders opposed the remuneration proposals, they were approved.
Plus500 (LON: PLUS) released an update today (Thursday) on the results and actions taken after its Annual General Meeting held on May 2, 2023. This meeting approved the re-election of Steve Baldwin as a Non-Executive Director and multiple remuneration-related proposals.
Steve Baldwin Continues to Sit on Plus500's Board
Despite 29.68 percent of the Plus500 shareholders voting against the re-election of Baldwin, the majority favored him. The brokerage highlighted that the votes against the re-election of Baldwin "relates in part to his position as the Chair of the Company's ESG Committee."
Baldwin was added to the board of Plus500 in June 2017. According to his LinkedIn profile, he also holds positions as a Non-Executive Director and Chairman of the Audit Committee at Edinburgh Investment Trust and is the Chair at London-based TruFin. His career in finance was shaped by roles at Coopers & Lybrand, which became PricewaterhouseCoopers in 1998 with a merger, UBS, JP Morgan, and Macquarie Group. He also sat on the board of several other companies.
"Plus500 is dedicated to operating responsibly and sustainably in all aspects of its business, including taking the necessary actions to reduce the relatively minimal impact of its operations on the environment," Plus500 stated. "The Board reaffirms its belief that Mr. Baldwin remains highly suitable in his position as a Non-Executive Director and as Chair of the ESG Committee."
Updates in Remuneration
Apart from Baldwin's re-election, three other proposals faced opposition from over 20 percent of shareholders' all concerning remuneration. These encompassed the allocation of shares to the Chair of the Board, the approval of the remuneration policy for Directors and Executives, and the compensation terms for the CEO, David Zruia.
On a positive note, the Plus500 shareholders overwhelmingly endorsed the remaining 17 resolutions with more than 80 votes in favor.
Share Price Rebound
Meanwhile, there's a bullish sentiment among Plus500 shareholders in recent times. The Plus500 stock prices have rallied 2.6 percent since yesterday's low, steadily approaching August levels. However, it's worth noting that the year-to-date return of the Plus500 stock has declined by more than 20 percent.
As Finance Magnates reported earlier, Plus500 generated $168.1 million as revenue in the third quarter of the ongoing year, 5 percent higher than the previous quarter but 14 percent down year-over-year. Its trading income came in at $153.7 million.
Plus500 (LON: PLUS) released an update today (Thursday) on the results and actions taken after its Annual General Meeting held on May 2, 2023. This meeting approved the re-election of Steve Baldwin as a Non-Executive Director and multiple remuneration-related proposals.
Steve Baldwin Continues to Sit on Plus500's Board
Despite 29.68 percent of the Plus500 shareholders voting against the re-election of Baldwin, the majority favored him. The brokerage highlighted that the votes against the re-election of Baldwin "relates in part to his position as the Chair of the Company's ESG Committee."
Baldwin was added to the board of Plus500 in June 2017. According to his LinkedIn profile, he also holds positions as a Non-Executive Director and Chairman of the Audit Committee at Edinburgh Investment Trust and is the Chair at London-based TruFin. His career in finance was shaped by roles at Coopers & Lybrand, which became PricewaterhouseCoopers in 1998 with a merger, UBS, JP Morgan, and Macquarie Group. He also sat on the board of several other companies.
"Plus500 is dedicated to operating responsibly and sustainably in all aspects of its business, including taking the necessary actions to reduce the relatively minimal impact of its operations on the environment," Plus500 stated. "The Board reaffirms its belief that Mr. Baldwin remains highly suitable in his position as a Non-Executive Director and as Chair of the ESG Committee."
Updates in Remuneration
Apart from Baldwin's re-election, three other proposals faced opposition from over 20 percent of shareholders' all concerning remuneration. These encompassed the allocation of shares to the Chair of the Board, the approval of the remuneration policy for Directors and Executives, and the compensation terms for the CEO, David Zruia.
On a positive note, the Plus500 shareholders overwhelmingly endorsed the remaining 17 resolutions with more than 80 votes in favor.
Share Price Rebound
Meanwhile, there's a bullish sentiment among Plus500 shareholders in recent times. The Plus500 stock prices have rallied 2.6 percent since yesterday's low, steadily approaching August levels. However, it's worth noting that the year-to-date return of the Plus500 stock has declined by more than 20 percent.
As Finance Magnates reported earlier, Plus500 generated $168.1 million as revenue in the third quarter of the ongoing year, 5 percent higher than the previous quarter but 14 percent down year-over-year. Its trading income came in at $153.7 million.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Dutch Neobank Bux Taps 30-Year Financial Veteran as Chairperson
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa