Elementis plc – Result of 2016 AGM
The Company’s AGM was held today (27
April 2016) at the offices of UBS Investment Bank in
London and all resolutions
proposed were passed on a poll.
For information, the following table shows the poll results for
the Meeting. The total number of shares in issue (ISC) as at
25 April 2016 was 463,166,347. (Total
voting rights: 463,166,347). The percentage figure shown after
columns 2 and 4 is the percentage of the total number of votes
validly cast (under law) for each resolution (i.e. excludes votes
withheld).
| Resolution |
Votes
For |
% |
Votes Against |
% |
Votes
Total |
% of
ISC voted |
Votes
Withheld |
| 1. Receive annual
report and accounts 2015 |
365,152,438 |
100.00 |
1,313 |
0.00 |
365,153,751 |
78.83 |
2,503,656 |
| 2. Final dividend |
366,710,973 |
100.00 |
1,349 |
0.00 |
366,712,322 |
79.17 |
948,085 |
| 3. Directors'
remuneration report 2015 (excluding Remuneration policy) |
287,022,138 |
78.37 |
79,194,588 |
21.63 |
366,216,726 |
79.06 |
1,405,108 |
| 4. To elect Paul
Waterman |
366,154,947 |
99.86 |
497,438 |
0.14 |
366,652,385 |
79.16 |
968,980 |
| 5. To re-elect Andrew
Duff |
360,838,400 |
98.41 |
5,817,597 |
1.59 |
366,655,997 |
79.16 |
997,359 |
| 6. To re-elect Brian
Taylorson |
366,187,365 |
99.86 |
506,427 |
0.14 |
366,693,792 |
79.17 |
966,615 |
| 7. To re-elect Nick
Salmon |
366,149,890 |
99.86 |
505,805 |
0.14 |
366,655,695 |
79.16 |
966,140 |
| 8. To re-elect Andrew
Christie |
363,915,924 |
99.25 |
2,742,836 |
0.75 |
366,658,760 |
79.16 |
964,076 |
| 9. To re-elect Steve
Good |
366,153,011 |
99.86 |
503,554 |
0.14 |
366,656,565 |
79.16 |
965,270 |
| 10, To re-elect Anne
Hyland |
365,439,852 |
99.68 |
1,181,718 |
0.32 |
366,621,570 |
79.15 |
962,693 |
| 11. Appoint Deloitte
LLP as Auditors |
366,091,116 |
99.85 |
558,833 |
0.15 |
366,649,949 |
79.16 |
971,886 |
| 12. Auditors'
remuneration |
365,875,290 |
99.78 |
789,248 |
0.22 |
366,664,538 |
79.16 |
957,297 |
| 13. Special
dividend |
366,671,353 |
100.00 |
2,219 |
0.00 |
366,673,572 |
79.16 |
948,263 |
| 14. Authority to allot
shares |
339,398,018 |
92.57 |
27,233,002 |
7.43 |
366,631,020 |
79.15 |
990,815 |
| 15. Authorise
political donations |
365,129,578 |
99.59 |
1,503,629 |
0.41 |
366,633,207 |
79.15 |
1,028,200 |
| 16. Hold general
meetings at 14 clear days' notice* |
328,291,378 |
89.56 |
38,280,932 |
10.44 |
366,572,310 |
79.14 |
1,050,524 |
| 17. Disapply
pre-emption rights* |
334,912,720 |
96.18 |
13,313,599 |
3.82 |
348,226,319 |
75.18 |
19,435,088 |
| 18. Authority to
purchase own shares* |
363,294,045 |
99.08 |
3,363,458 |
0.92 |
366,657,503 |
79.16 |
964,332 |
* Resolutions 16 to 18 were passed as special resolutions.
The Board considers that the percentage of votes cast against or
withheld in respect of resolution number 3 (to approve the
remuneration report, as shown in the above table) to be
significant. The Company has written to major shareholders,
representing more than two-thirds of its voting capital, to address
the main concerns raised. A number of shareholders accepted an
offer to meet with the Chairman or Chairman of the Remuneration
Committee. The reasons for the result of the vote on resolution
number 3 are understood and the Company will reflect on these
concerns in future years.
In accordance with Listing Rule 9.6, copies of the resolutions,
designated as being special business, passed at the AGM will be
submitted to the National Storage Mechanism and will be available
shortly for inspection at: www.morningstar.co.uk/uk/NSM
These voting results and the Notice of meeting will also be
available on the Company’s website at
www.elementisplc.com/investors/agm-information later this
afternoon.
Wai Wong
Company Secretary
0207 067 2999