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Lloyds: One-third of non-Government shareholders fail to support Blank

The results of the voting at the AGM and GM of Lloyds Banking Group held today have now been released by the Company and show that, after the Government holding of 7,277,204,386 shares is excluded, over a third of the remaining shareholders who cast their votes at the AGM failed to vote in favour of the re-election of Chairman, Victor Blank. Some 14.56% of those shareholders voted against with a further 19.77% submitting abstentions. Of the other directors, Lord Leitch saw the highest levels of dissent with 6.1% of non-Government shareholders voting against, while 5.95% submitted abstentions. AGM turnout was 70.52%  and EGM 70.18%

One other resolution saw significant dissent – with 18.8% of shareholders (excluding Government held shares) expressing dissent on the resolution to approve the remuneration report. These votes break down as 9.75% against with 9.05% submitting abstentions.

The full results of the voting are available on Manifest VoteWatch.

What do you think?