Over the harrumph

24 November 2008 By Jeffrey Goldfarb Follow @jgfarb

The UK bank s shareholders approved a pricey £5.8bn deal with Abu Dhabi and Qatar. But more than a fifth of them voted against it or registered displeasure by abstaining. Some in favour said OK only through gritted teeth. They ll have the chance to speak up more loudly in April.

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Barclays shareholders approved a capital raising from investors in Abu Dhabi and Qatar.

On question one, to approve an increase in the authorised ordinary share capital, 3.98bn shares voted for; 584m voted against; and 529m withheld their vote.

On question two, to approve an authority for directors to allot securities, 3.91bn shares voted for; 667m voted against; and 518m withheld their vote.

On question three, to approve an authority for directors to allot equity securities for cash other than on a prorata basis to shareholders and to sell treasury shares, 3.96bn shares voted for; 596m voted against; and 532m withheld their vote.

On question four, to grant an authority for directors to allot ordinary shares at a discount, 3.96bn voted for; 598m voted against; and 533m withheld their vote.

There were 8.37bn Barclays share in issue on November 24.

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