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Results of AGM/EGM

Drax takes flak over directors pay

13 April 2017 14:01

Drax shareholders appeared to be less than happy with the 2016 Directors' Remuneration Report, presented to them at today's Annual General Meeting.

Only 66.35% voted to approve the annual statement by the Chairman of the Remuneration Committee and the Annual report on remuneration.

The Company said:

"The Remuneration Committee consulted on the Remuneration Policy with a majority of the holders of the issued share capital, most of which were supportive of the approach taken in what was a key year for the Company and in which significant milestones in the delivery of our future strategy were met. Discussions have already taken place with a number of institutional shareholders who did not support the Remuneration Report or Remuneration Policy resolutions. The feedback received will be discussed by the Remuneration Committee in forthcoming meetings and further engagement is expected with shareholders as part of an ongoing programme."

At 2:01pm: (LON:DRX) Drax Group PLC share price was +0.7p at 318.2p

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