No drama at RSA AGM

All resolutions were passed at the annual general meeting (AGMs) of the insurance group RSA, including the vote on the remuneration report.

Around 6.4% of the votes cast were opposed to the remuneration report which, in the light of recent protest votes at AGMs, counts as a relatively mild protest. Shareholders representing around 2.6% of RSA's issued share capital abstained from voting on the issue.

Business publisher and exhibitions group UBM was the latest to feel the wrath of angry shareholders on Monday, as 36% of shareholders, representing 55.5m shares, voted against the pay deal for the group's executive team.

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In a further blow to the company, voters representing a 33.3m shares were withheld.

Meanwhile, at car company Pendragon's AGM last week, 67% of shareholders who voted were against the remuneration report.

It was a close run thing at Trinity Mirror where 45.89% voted against the pay deal.

These votes came hot on the heels of Aviva losing the vote, leading to its chief executive, Andrew Moss, resigning. The Sunday Telegraph reported that Moss demanded a 9.5% pay rise in the weeks before his departure, as he felt his pay was not keeping pace with his peers in the insurance business.

JH