Retail FX and CFD broker Plus500 Ltd (LON:PLUS) has just announced the results of the Annual General Meeting (AGM) held earlier today.

All but one of the resolutions (namely resolution 11, which was an advisory vote) were passed by the requisite majorities.

Resolution 11 – “Advisory vote ‐ Approve the Directors’ Remuneration Report”, was rejected by the majority of the voters. More than 51% (51.36%) of the votes, or 23,220,100 votes, were cast against the proposal.

Plus500 commented on the voting results:

“The Board of Plus500 notes that 20% or more of votes cast were cast against the Board’s recommendation for resolutions 3 and 11, the latter of which is an advisory vote. The Board has noted the outcome of these votes, and it takes such matters seriously. The Board will continue to engage with shareholders and shareholder advisory bodies to ensure their feedback continues to inform the Company’s approach to governance and remuneration, while taking into account the specific needs and profile of the Company”.

Last year, Plus500’s remuneration report also faced significant opposition at the AGM. Back then, 66% of the votes were cast against the resolution.