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BAT Shareholders Approve Directors Remuneration With Low Numbers at AGM

By Adriano Marchese

 

British American Tobacco PLC said Wednesday that the resolution to approve its directors' remuneration was approved at the annual general meeting, but figures provided by the company showed it passed with a relatively low percentage of votes.

The owner of Camel and Lucky Strike cigarettes said that 1.09 billion votes were cast in favor, which represents just 61.71% of the total votes cast.

The company defended its executive remuneration, saying that the executive remuneration arrangements are "fully aligned" with its directors' remuneration policy, which was approved by a significant majority of shareholders at the company's 2019 annual general meeting.

"We will continue our active dialogue with shareholders, particularly those who decided to vote against this resolution, and intend to further consult with shareholders during 2021," it said.

Additionally, the company also noted that the resolution to renew directors' authority to allot shares received only 72.33% of votes cast in favor.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

April 28, 2021 12:27 ET (16:27 GMT)

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