Online trading company Plus500 Ltd (LON:PLUS) has just announced the results of today’s Annual General Meeting (AGM).

Each of the resolutions proposed were voted on by way of a poll. All but one of the resolutions (namely resolution 22, which was an advisory vote) were passed by the requisite majorities.

Nearly 75% of all votes were cast against the resolution to approve the directors’ remuneration report. Last year, the same resolution was also rejected by the majority of shareholders. The vote, however, is merely advisory.

The other resolutions that faced significant opposition include:

• the re-election of Steve Baldwin;
• the allotment of shares to Jacob Frenkel;
• the approval of the new remuneration policy for Directors and Executives;
• the approval remuneration terms for David Zruia.

The Board of Plus500 notes that 20% or more of votes were cast against the Board’s recommendation for the above-listed resolutions.

The Board says it takes these votes very seriously and will continue to engage with shareholders and shareholder advisory bodies to ensure their feedback informs the company’s future approach to governance and remuneration.

In accordance with the UK Corporate Governance Code, an update on the views received from shareholders and the actions taken will be published by Plus500 during the next six months. The Board of Plus500 says it remains fully committed to achieving high governance standards, while recognising the importance of providing the appropriate incentives to the Group’s Board and Executive management, who continue to drive the value of Plus500’s business for shareholders.