AGM

Update statement relating to the voting results of the 2024 Annual General Meeting

As previously announced on 18 September 2024, at Games Workshop Group Plc's AGM held on the same day, resolution 10 (which was an advisory vote to approve the Directors' remuneration report) and resolution 11 (which was a binding vote to approve the Directors' remuneration policy) were passed with 79.08% and 73.24% of votes, respectively.

As these resolutions received more than 20% of votes against, in accordance with the UK Corporate Governance Code (the "Code"), we are now providing an update statement on the actions we have taken and our understanding of shareholders' views in relation to these matters. In accordance with the Code, a final update will be included in the 2025 Annual Report.

We take the outcome of shareholder votes very seriously and since the AGM we have consulted with our major shareholders (who, in aggregate, hold over 56% of the Ordinary Shares in issue) via a series of meetings to understand their views.

Whilst the majority of shareholders were supportive of these resolutions and the Remuneration Policy and Remuneration Report were approved at the AGM, we understand from the consultation process that the principal reasons for certain shareholders voting against resolutions 10 and 11 were the lack of share based compensation and the levels of disclosure in respect of bonus awards.

We are continuing our dialogue with shareholders and will be looking to assess our remuneration policy as an outcome of those discussions, whilst also being mindful of continuing to promote the most appropriate remuneration policy in the long-term interests of the Company, shareholders and all stakeholders.

Further information will be provided in due course.

Previous AGMs

The 2024 AGM was held on on 18 September 2024 and the notice of meeting can be downloaded as a pdf here. The results of the proxy voting can be downloaded as a PDF here.  

The 2023 AGM was held on 20 September 2023 and the notice of meeting and accompanying circular can be downloaded as a PDF here. The results of the proxy voting can be downloaded as a PDF here.

The 2022 AGM was held on 21 September 2022 and the notice of meeting can be downloaded as a pdf here. The results of the proxy voting can be downloaded as a pdf here.

The 2021 AGM was held on 15 September 2021 and the notice of meeting can be downloaded as a pdf here. The results of the proxy voting can be downloaded as a pdf here.

The 2020 AGM was held on 16 September 2020 and the notice of meeting can be downloaded as a PDF here. The results of the proxy voting can be downloaded as a pdf here.

Update statement regarding the 2020 AGM proxy voting.

We are aware that the Corporate Governance Code provides that where any company receives significant opposition against a board recommendation for a resolution, the company should explain what actions it intends to take to consult shareholders about the result, and that an update on the views received from shareholders and actions taken should be published no later than six months after the shareholder meeting.

The resolution which received significant opposition at our 2020 AGM was in respect of the re-election of Nick Donaldson as a director. On the same date, 18 September 2020, we announced that Nick Donaldson would be retiring from the Board of Games Workshop no later than the 2021 AGM, and we have since confirmed that this retirement date will be at the end of May 2021. For this reason, we did not feel it necessary or appropriate to consult with shareholders about this result. On the basis that no consultation has taken place, there is therefore no update on views received or actions taken.

The 2019 AGM was held on 18 September 2019 and the notice of meeting can be downloaded as a pdf here. The results of the proxy voting can be downloaded as a pdf here.

Update statement regarding the 2019 AGM proxy voting

In response to the voting outcome on resolution 4 (re-appointment of Nick Donaldson) at the 2019 AGM, the Board today provides the following information, as an update to the statement made in September 2019 on this matter.

Following the 2019 AGM, we actively engaged with those shareholders holding over 50,000 shares who had voted against these resolutions. The Company had not received any contact from these shareholders in advance of the 2019 AGM nor indications that they were intending to vote against any of the resolutions.

Following our request, three shareholders responded and explained that they had voted against the resolutions due to concerns that Nick Donaldson was overboarded in terms of the call on his time.  Nick’s time commitments were then more fully explained to allay this concern. The Board is confident that Nick discharges effectively his role as Chairman, notwithstanding his other board commitments.

The board of Games Workshop remains fully committed to shareholder engagement and we welcome ongoing dialogue with all of our investors. We will set out further detail of this dialogue and interaction in our next annual report.

The 2018 AGM was held on 19 September 2018 and the notice of meeting can be downloaded as a pdf here. The results of the proxy voting can be found here.

The 2017 AGM was held on 13 September 2017 and the notice of meeting can be downloaded as a pdf here. The results of the proxy voting can be found here.

The 2016 AGM was held on 14 September 2016 and the notice of meeting can be downloaded as a pdf here. The results of the proxy voting can be found here.