Okay, good morning everyone. It's 9:00 A.M. Mountain Standard Time, and we're going to begin the annual general meeting of shareholders. I'm Mike Fries, CEO and Vice Chairman of the Board of Directors of Liberty Global PLC, and I'd like to welcome you to our 2021 Annual General Meeting of Shareholders. Appreciate you joining us today. Similar to last year, given the continued complexities presented by the COVID-19 pandemic, we are providing a webcast of this year's meeting. We should be able to return to our usual in-person shareholder meetings next year. I certainly look forward to that. With the limitations of webcasting, we're electing again this year to restrict our meeting to the formal business at hand, and there will be no general business presentation afterwards.
That said, I recently discussed our Q1 results with the investment community, and over the last several weeks, we have presented at three different investor conferences hosted by each of JP Morgan, Evercore and Bank of America. Audio replays of these events can be easily found in the Investor Relations section of our website, and I certainly encourage you to review these presentations or listen to them as they are quite informative and will give you a good update on our business. We provided shareholders with the opportunity to submit questions concerning the subject matter of the resolutions to be voted upon today, and we did not receive any questions. Several of our directors are participating in the meeting via the webcast, along with Bryan Hall, our general counsel. As an English company, we generally have relatively more resolutions presented at our annual meetings.
Today, we have 11 proposals to present to our shareholders for a vote, and all of these proposals have been described in detail in our proxy statement. With that, let's begin the meeting. Bryan, please introduce our inspector of election.
Good morning. Margaret Dunn of Computershare has been appointed to serve as the Inspector of Election. I understand that a majority of the aggregate voting power of the Liberty Global Class A and Class B shares entitled to vote at this annual general meeting is represented in person or by proxy. As a result, a quorum is present. Ms. Dunn, can you please confirm?
Yes, I confirm, and I will also confirm in writing in the Certificate of the Inspector of Election, which will be attached to the minutes of this meeting together with my signed notes.
Great, thank you, Ms. Dunn. As reported, a quorum is represented, and I declare this annual general meeting of shareholders open. Now, each of the resolutions is described in the notice of annual general meeting included with the proxy statement. Bryan?
The proxy vote report, the record date shareholder list, the affidavit of mailing, and the oath of the inspector of election were made available for inspection at the registration table. A copy of the record date shareholder list has been on file at the principal offices of the company in London for at least the last 10 days and was available for review by shareholders during that period. A copy of the form of agreement pursuant to which, if authorized under Resolution 11, Liberty Global would affect share buybacks has been on display at the principal offices of the company in London for the last 15 days and has been made available for inspection throughout the meeting at the registration table. Copies of the proxy statement relating to this annual general meeting and the U.K. annual report have been made available at the registration table.
Okay, so there are 11 resolutions to be brought before this meeting. The first order of business relates to the election of board members. We will vote upon Resolutions 1 through 4 to elect myself, Mike Fries, Paul Gould, John Malone, and Larry Romrell as Class II members of the Board of Directors until the 2024 Annual General Meeting of Shareholders or until a successor in interest is appointed. Each of these resolutions must be approved by the affirmative vote of a simple majority of the votes cast on the resolutions. Bryan?
We have already received proxy cards directing the voting on these resolutions, and the appointed proxies will complete the ballot. The polls for voting on these resolutions are now closed.
Okay, the next order of business is to provide the vote on Resolution 5, which is an advisory vote under English law on the implementation of the directors' compensation policy for the 2020 calendar year as described in the proxy statement. This resolution must be approved by the affirmative vote of a simple majority of the votes cast on the resolution. Bryan?
We have already received proxy cards directing the voting on this resolution, and the appointed proxies will complete the ballot. The polls for voting on Resolution 5 are now closed.
All right, the next order of business is to provide a vote upon Resolution 6, 7, and 8 relating to our auditors. First, a vote to ratify the appointment of KPMG U.S. as Liberty Global's independent auditor for the year ending December 31st, 2021. Second, a vote to appoint KPMG U.K. as Liberty Global's U.K. Statutory Auditor until the conclusion of the next annual general meeting. And third, a vote to authorize the audit committee of our board of directors to determine the U.K. statutory auditor's compensation. Each of these resolutions must be approved by the affirmative vote of a simple majority of the votes cast on the resolutions, Mr. Hall.
We have already received proxy cards directing the voting on these resolutions, and the appointed proxies will complete the ballot. Polls for voting on these resolutions are now closed.
Okay, the next order of business is to provide a vote upon Resolution 9 to authorize our board of directors to allot equity shares for cash without the application of preemption rights. Under English law, Resolution 9 must be approved by the affirmative vote of at least 75% of the votes cast on the resolution. Bryan?
We have already received proxy cards directing the voting on these resolutions, and the appointed proxies will complete the ballot. The polls for voting on this resolution are now closed.
Okay, the next order of business is to vote upon Resolution 10 to authorize Liberty Global and its subsidiaries to make up to $1 million of political donations. Now, unlike the U.S., this resolution is required under English law in order for the company and its subsidiaries to make any political contributions if we desire to do so, which at this point we have no intentions, but you never know. Resolution 10 must be approved by the affirmative vote of a simple majority of the votes cast on the resolution.
We have already received proxy cards directing the voting on these resolutions, and the appointed proxies will complete the ballot. The polls for voting on Resolution 10 are now closed.
Okay, the final order of business is to vote upon Resolution 11 to authorize Liberty Global to effect share buybacks. Unlike the U.S., under English law, we must get specific authorization to make share buybacks, and that's been described pretty thoroughly in the proxy statement. Resolution 11 must be approved by the affirmative vote of a simple majority of the votes cast on the resolution.
We have already received proxy cards directing the voting on these resolutions, and the appointed proxies will complete the ballot. Polls for voting on Resolution 11 are now closed. That concludes our voting at the meeting today. Has the inspector of election tabulated the votes represented here and by proxy on the resolutions called here today?
As the inspector of election, I have completed the tabulation of votes, and on Resolutions 1 through 8 and 10 through 11, a majority of votes cast has voted in favor, and on Resolution 9, more than 75% of the votes cast voted in favor.
Thank you. So each of the resolutions has been approved. For all of the resolutions presented at this meeting, the final voting results will be published on our website and filed with the Securities and Exchange Commission on Form 8-K. There being no further business, this concludes the formal business of this meeting, and the shareholders' meeting is now closed. I'm certainly hopeful that next year we'll be able to return to our practice of holding this annual meeting of shareholders in the greater London area, and we look forward to seeing you then. Certainly appreciate you joining us today via this webcast. Stay well, and we'll speak to you soon. Thank you.