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RBC shareholders reject proposal to simplify financial reporting

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RBC shareholders reject proposal to simplify financial reporting

shareholders on April6 voted against a shareholder proposal to simplify the company's financial reporting,according to a Form 6-K filed the same day.

There were 724,243,626votes, or 97.58% of the total, that rejected the proposal, and 17,966,113, or 2.42%,votes were cast in favor of the proposal. Abstentions totaled 4,186,081.

Submitted byshareholder rights group, Mouvement d'éducationet de défense des actionnaires (the Shareholder Education and Advocacy Movement),or MÉDAC, the proposal sought to simplify the financial statements and make themmore accessible, or establish a committee with small shareholders to achieve thesame objective.

The group had submitted the same proposal to different Canadian banks in March.