UK Government Investments (UKGI), which manages the government’s shareholding in NatWest Group plc (NWG), has lodged votes in favour of Resolutions 1 – 25 and resolutions 27 – 28 at the company’s Annual General Meeting (AGM) on 28 April 2022. In line with appropriate and previous practice, UKGI did not register a vote on Resolution 26 (the renewal of the authority for NWG to buyback shares from HM Treasury). These votes were lodged in line with the Financial Reporting Council’s UK Stewardship Code, the government Shareholding Memorandum of Understanding between HM Treasury and UKGI and the UKGI Framework Agreement with HM Treasury.
About UK Government Investments (‘UKGI’)
UKGI is the government’s centre of excellence in corporate governance and corporate finance. It provides expert advice and leading solutions that inform and translate government’s decisions into effective outcomes in the national interest.
UKGI acts as shareholder for, and leads the establishment of, UK government arm’s length bodies; it advises on all major UK government corporate finance matters, including financial interventions into corporate structures and corporate finance negotiations; it analyses and advises on the UK government’s contingent liabilities; and it acquires, manages and executes the sale of all significant UK government corporate assets.
UKGI is owned by HM Treasury and independently managed with a Board comprised predominantly of independent non-executive directors. UKGI works closely with both the private and public sectors, advising and interacting with ministers, Parliament and Whitehall departments.