As the eyes of the world turned to Brazil, the pace of DRR and AGM activity for FTSE100 companies slowed. The 2014 FIFA World Cup has got underway (despite local and international protests and corruption allegations), and we find ourselves approaching the end of the current season of FTSE100 DRRs and AGMs.
As noted in the post last week, the March year-end companies have begun to publish their DRRs, and last week saw both SSE Group and the London Stock Exchange release their Annual Reports. This leaves less than 20 of the FTSE100 left to publish their first “binding directors’ remuneration policy” and report, with half of those remaining being March year-end.
The only FTSE100 AGM held last week was that of Kingfisher, which received two of the highest shareholder backings for its two remuneration votes this season. 98.9% of shareholders approved the remuneration policy, with an almost perfect 99.7% voting in favour of the remuneration report.
Whitbread is the sole FTSE100 company to be holding its AGM this week, and then we conclude the AGM season of the 31 December year-end FTSE100 entities the following week (with three companies holding their AGMs on Wednesday 25 June).
The highlight of the week (at least from an interest perspective) was Sports Direct’s latest attempt at getting a share incentive arrangement approved by shareholders (see our blog post for our thoughts on that one).
All of the results of the AGMs, as well as links to the DRRs as they are published, will be maintained on our single source document.