Wizz Air Holdings PLC - Budapest-based budget airline - Says all resolutions were passed at its annual general meeting on Wednesday. But resolutions 2, 3 and 4 passed by a smaller margin, of 63% votes for, 74% and 74% respectively. Resolutions 2 and 3 related to approving the directors' remuneration report for the financial year that ended March 31 and to approve the policy set out in its financial 2023 annual report respectively. Resolution 4 was on approving certain amendments to the rules of the Wizz Air 'valuation creation plan'.
Says: "In respect of resolutions 3 and 4, the company notes that the chair of the remuneration committee held numerous meetings and calls throughout the year on the directors' remuneration policy and has engaged with key shareholders to understand their sentiment to the proposed directors' remuneration policy changes, specifically the extension of the value creation plan. The board remains of the view that the leadership of the company's [chief executive officer], Jozsef Varadi, is central to delivering Wizz Air's recovery in the coming years and these changes are in the best interests of the company, its shareholders and other stakeholders."
Current stock price: 2,373.43 pence, down 0.3%
12-month change: up 1.8%
By Greg Rosenvinge, Alliance News reporter
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Wizz Air (WIZZ)