Plus500 Ltd (LON:PLUS) today held its Annual General Meeting (AGM) and has confirmed that the shareholders and parties present approved the following motions:
1. To re-elect Alastair Gordon, who retires by rotation pursuant to Article 42 of the company’s Articles of Association, as a director (if re-elected, Mr. Gordon shall continue to serve as Chairman of the Company’s Board of Directors following the Annual General Meeting).
2. To re-elect Gal Haber, who retires by rotation pursuant to Article 42 of the Company’s Articles of Association, as a director.
3. To re-elect Alon Gonen, who retires by rotation pursuant to Article 42 of the Company’s Articles of Association, as a director.
4. To re-elect Inbal Esther Marom, who retires by rotation pursuant to Article 42 of the Company’s Articles of Association, as a director.
5. To re-elect Paul Boyle, who retires by rotation pursuant to Article 42 of the Company’s Articles of Association, as a director.
6. To re-appoint Kesselman & Kesselman, a member firm of PricewaterhouseCoopers International Limited, as the Company’s independent external auditor for 2015 and to authorize the Company’s Board of Directors (or, the Audit Committee, if authorized by the Board of Directors to fix their remuneration. As special business to consider, and, if thought fit, pass Resolutions 7 to 15 inclusive below:
7. To approve an increase to the service contract fee payable to Wavesoft Ltd. (a company controlled by Gal Haber, the Chief Executive Officer and Director of the Company) for Mr. Haber’s services as Chief Executive Officer and Director from NIS 900,000 (plus VAT) per annum to NIS 1,200,000 (plus VAT) per annum, effective 1 March 2015.
8. To approve an increase to the service contract fee payable to Sparta24t Ltd. (a company controlled by Alon Gonen, the Managing Director and Director of the Company), for his Mr. Gonen’s services as Managing Director and Director from NIS 900,000 (plus VAT) per annum to NIS 1,200,000 (plus VAT) per annum, effective 1 March 2015.
9. To approve an increase to the base salary payable to Ms. Inbal Marom, a Director of the Company, for her services as the Chief Financial Officer of the Company from NIS 480,000 gross per annum to NIS 576,000 per annum effective 1 March 2015.
10. To approve an increase to the fees payable to Mr. Alastair Gordon, for his services as the Chairman of the Company’s Board of Directors from £55,000 gross per annum to £60,500 gross per annum effective 1 March 2015. 11. To approve, an increase to the fees payable to Mr. Charles Fairbairn for his services as senior Non-Executive Director from £45,000 gross per annum to £49,500 gross per annum effective 1 March 2015.
12. To approve the fees payable to Mr. Paul Boyle for his services as Non-Executive Director of £49,500 gross per annum effective 1 January 2015.
13. To approve an increase to the fees payable to Mr. Daniel King for his services as Non-Executive Director from £30,000 gross per annum to £33,000 gross per annum effective 1 March 2015.
14. To approve the grant to Inbal Esther Marom, the Company’s Chief Financial Officer and Director, of a share appreciation right in the amount of NIS 250,000 vesting after two years, with a maximum payout amount of NIS 1,000,000.
15. To authorize the Directors pursuant to Article 10(c) of the Company’s Articles of Association to allot and issue up to 5,744,419 Ordinary Shares (representing approximately 5 per cent. of the Company’s issued share capital) for cash as if Article 10(b) of the Articles of Association did not apply to such allotment and issue, provided that this power shall expire on the conclusion of the Company’s 2016 Annual General Meeting (save that the Company may before such expiry make an offer or agreement which would or might require ordinary shares to be issued after such expiry and the Directors may issue ordinary shares in pursuance of such an offer or agreement as if the power had not expired).
For the official announcement from Plus500, click here, and for confirmation of the passed resolutions from the London Stock Exchange, click here.