Quilter PLC 2023 AGM Update Statement (1027T)
10 November 2023 - 10:00PM
UK Regulatory
TIDMQLT
RNS Number : 1027T
Quilter PLC
10 November 2023
Friday 10 November 2023
Quilter plc
Update Statement with respect to 2023 Annual General Meeting
Resolution Vote
At our AGM held on 18 May 2023, resolution 16, which sought
authorisation for political donations or expenditure, passed with
the requisite majority of votes, however 25% of the votes cast were
against the resolution.
As we reported following the 2022 AGM, there was a significant
difference in voting between the South African and UK share
registers on this resolution with 58.88% and 99.92% support
respectively. In line with provision 4 of the UK Corporate
Governance Code, we have continued to directly engage, as we have
done since Listing in 2018, with our largest South African
shareholders on this resolution to further understand their views.
We do believe our South African shareholders now have a better
understanding of the purpose of this resolution however we continue
to recognise that in a current South African governance context,
any linkage between business and politics is sensitive. Quilter has
no intention of undertaking political donations and has not done so
since Listing but, in line with other listed UK companies, has
sought such authority to avoid any inadvertent breaches of UK
company law given the breadth of the applicable provisions. We
understand the importance of continuing dialogue and effective
communication with our shareholders to ensure that it is clear that
the Board believe that this authority is simply a precautionary
measure to ensure that the Company (and its subsidiaries) does not
inadvertently breach in the UK, South Africa or anywhere else in
the world UK company law. We will also continue to explain clearly
the reasons why the Board believe this resolution is an important
protection for the Company in the 2024 Notice of Annual General
Meeting.
-ends-
Enquiries:
Investor Relations:
John-Paul Crutchley +44 (0) 20 7002 7016
Company Secretary:
Clare Barrett +44 (0) 20 7002 7072
About Quilter plc:
Quilter plc is a leading UK-centric wealth management business,
helping to create prosperity for the generations of today and
tomorrow.
Quilter oversees GBP101.4 billion in customer investments (as at
30 September 2023).
It has an adviser and customer offering spanning financial
advice, investment platforms, multi-asset investment solutions, and
discretionary fund management.
The business is comprised of two segments: Affluent and High Net
Worth.
Affluent encompasses the financial planning businesses, Quilter
Financial Planning, the Quilter Investment Platform and Quilter
Investors, the Multi-asset investment solutions business.
High Net Worth includes the discretionary fund management
business, Quilter Cheviot, together with Quilter Private Client
Advisers.
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