Ireland: DCC plc provides say on pay vote

An entry on the Manifest blog reports: "DCC plc have become the first Irish-incorporated company listed on the Irish Stock Exchange to include an advisory say-on-pay resolution on the agenda for the annual general meeting". The following explanation is provided by the company's chairman in his letter accompanying the AGM notice: 

From 2009, the Directors have decided to put the Report on Directors’ Remuneration and Interests to a shareholder vote. There is no legal obligation on the Company to put such a resolution to shareholders, so it is an ‘advisory’ resolution and is not binding on the Company. The Board believes that such a resolution is good practice and is an acknowledgement of a shareholder’s right to have a ‘say on pay’".