Important Notice - COVID-19
Due to the current COVID-19 crisis, AIB has put in place new arrangements: the proceedings will therefore be conducted via a live conference call from the bank's headquarters, No 10 Molesworth Street, Dublin 2. Full details concerning the conference call details can be found on the Company's website, under Shareholder Information, 2020 AGM, or on the following link: ''Important Notice "COVID-19".
Covid-19 and dividend update
On 27 March 2020, the Board announced its decision to withdraw its recommendation to pay the final dividend of €0.08 cent per share. In addition, ECGS recommends to OPPOSE to the authorization to repurchase shares (ITEM 10).
Board Change: the Chairman, Mr Richard Pym, has informed the Board of his intention to resign as Non-Executive Director and Chair on 6 March 2020. The Group is in the process of identifying the next Chair and an announcement will be made in due course.
ITEMS 3 AND 4: To authorize the directors to determine the remuneration of the auditors and to approve the continuation of Deloitte as auditor. The amount of non-audit fees paid by the company to its external auditor on a 3-year aggregate basis (122.7%) does not respect our guidelines of maximum 50%. Accordingly, we recommend to OPPOSE.
The Company is controlled by the Minister for Finance of Ireland who owns 71.12% of Capital and Voting Rights. Furthermore, the bank's IPO was in June 2017.
AIB Group is a financial services group operating predominantly in the Republic of Ireland and the United Kingdom. Co. provides a comprehensive range of services to personal, business and corporate customers. Co.'s operations are organized along three key segments: AIB Ireland (comprises Personal, Business and Corporate Banking); AIB UK (comprising Allied Irish Bank which offers full banking services to predominantly business customers across Great Britain; and First Trust Bank which offers full banking services to business and personal customers across Northern Ireland); and Group & International (syndicated and international lending in the United States of America and Europe).
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