Celtic Propose Major Change to Board Re-Election Rules

Celtic plc has proposed new Articles of Association that would alter director re-election rules if approved by shareholders. Currently, one-third of directors retire by rotation at each AGM, but the proposed wording would give the board greater flexibility to determine how many and which directors retire, based on principles of good corporate governance.

Additional proposed updates include removing the cap of ten directors and deleting existing borrowing-limit provisions. The club also proposes formalizing AIM related-party transaction rules, switching general meeting voting from a show of hands to a poll, and allowing hybrid or electronic shareholder meetings.