Vistry Group PLC Update Statement (2833T)
14 November 2023 - 3:15AM
UK Regulatory
TIDMVTY
RNS Number : 2833T
Vistry Group PLC
13 November 2023
13 November 2023
Vistry Group PLC ('Company')
Update on Annual General Meeting Remuneration Report vote
At the Company's annual general meeting ('AGM') held on 18 May
2023, 52.92% of votes were received in favour of Resolution 2, the
advisory vote to approve the directors' remuneration report.
The remuneration report is set out on pages 98 to 118 of
Company's 2022 Annual Report & Accounts Vistry Group PLC -
Annual Report & Accounts 2022.
The Board and the Remuneration Committee consulted extensively
with the Company's shareholders, both before and after the AGM, and
the Board understands that the reasons for the number of votes cast
against was primarily concerned with the base pay of the newly
appointed CFO and the upwards discretion applied to the EPS metric
for the vesting of the 2020 LTIP awards.
In response to shareholder concerns, the Board proposed a
revised Directors' Remuneration Policy which was designed following
the significant enlargement of the business to incentivise the
creation of shareholder value over the long-term. This was approved
at a General Meeting of the Company on 30 August 2023.
The Board is grateful to shareholders for their engagement and
acknowledges that through the engagement process shareholders have
expressed different perspectives. The Company remains committed to
ongoing shareholder engagement and will continue to do so to ensure
that the Company understands shareholders' views and is able to
consider feedback, as well as to provide clarity on the Company's
approach to remuneration going forward.
Vistry Group PLC
Clare Bates, General Counsel & Group
Company Secretary 01675 437160
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