TIDMPA.
RNS Number : 6817N
Partnership Assurance Group PLC
19 May 2015
PARTNERSHIP ASSURANCE GROUP PLC
19 May 2015
RESULTS OF ANNUAL GENERAL MEETING
The following amendment has been made to the announcement
released on 19 May 2015 at 15:28 under RNS No 6770N.
Votes (including votes withheld) were cast for a total of
326,417,015 ordinary shares of the Company, representing 81.60% per
cent of the total number of votes capable of being cast at the
meeting. Full details of the results of the poll are set out
below.
All other details remain unchanged.
Partnership Assurance Group plc ('Partnership') announces the
results of the poll taken at the Annual General Meeting of the
Company held earlier today.
Votes (including votes withheld) were cast for a total of
326,417,015 ordinary shares of the Company, representing 81.60% per
cent of the total number of votes capable of being cast at the
meeting. Full details of the results of the poll are set out
below.
Resolutions For(2)(3) Against(2)(3) Withheld(4) Total votes
cast
------------------------------ --------------------- -------------------- ------------ ------------
# of shares % # of shares % # of shares # of shares
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Receive 2014
Annual Report
1 and Accounts 326,417,015 100.00 0 0.00 0 326,417,015
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Receive and approve
the Remuneration
2 report 277,867,732 86.03 45,111,015 13.97 3,438,268 322,978,747
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Receive and approve
the report on
Remuneration
3 policy 264,093,029 80.91 62,323,986 19.09 0 326,417,015
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Amend rules of
4 LTIP 268,562,547 82.28 57,854,468 17.72 0 326,417,015
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Declare final
dividend of 1
pence per ordinary
5 share 326,416,723 100.00 292 0.00 0 326,417,015
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Chris
6 Gibson-Smith 322,589,056 98.83 3,827,689 1.17 273 326,416,745
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
7 Elect Paul Bishop 324,623,352 99.45 1,792,856 0.55 807 326,416,208
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Peter
8 Catterall 326,257,979 99.95 158,229 0.05 807 326,416,208
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Ian
9 Cormack 325,929,232 99.85 486,709 0.15 1,074 326,415,941
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Douglas
10 Ferrans 326,153,278 99.92 262,930 0.08 807 326,416,208
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Steve
11 Groves 325,938,136 99.90 311,889 0.10 166,990 326,250,025
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Ian
12 Owen 324,709,331 99.48 1,707,144 0.52 540 326,416,475
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect David
13 Richardson 325,937,863 99.90 311,889 0.10 167,263 326,249,752
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
14 Elect Clare Spottiswoode 319,540,371 99.27 2,364,013 0.73 4,512,631 321,904,384
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Richard
15 Ward 317,509,064 97.32 8,740,154 2.68 167,797 326,249,218
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-elect Simon
16 Waugh 306,166,492 93.80 20,249,716 6.20 807 326,416,208
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Re-appoint Deloitte
17 as auditors 323,365,490 99.07 3,050,991 0.93 534 326,416,481
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Authorise Directors
to agree auditors'
18 remuneration 326,155,812 99.92 260,930 0.08 273 326,416,742
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Authorise allotment
19 of shares 326,244,094 99.95 172,654 0.05 267 326,416,748
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Authorise the
Company, and
its subsidiaries,
to make political
20 donations 321,875,274 98.61 4,541,474 1.39 267 326,416,748
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Disapply pre-emption
21 rights * 326,414,892 100.00 1,322 0.00 801 326,416,214
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Authorise purchase
of own shares
22 * 326,416,723 100.00 292 0.00 0 326,417,015
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
Call general
meetings on 14
days' notice
23 * 324,236,509 99.33 2,179,705 0.67 801 326,416,214
--- ------------------------- ------------ ------- ------------ ------ ------------ ------------
* Special Resolution
VOTES OF INDEPENDENT SHAREHOLDERS ON THE RESOLUTIONS CONCERNING
THE ELECTION AND RE-ELECTION OF THE INDEPENDENT NON-EXECUTIVE DIRECTORS
------------------------------------------------------------------------------------------------
For(2)(3) Against(2)(3) Withheld(4) Total votes
cast
------------------------ -------------------- -------------------- ------------ ------------
Resolutions # of shares % # of shares % # of shares # of shares
------------------------ ------------ ------ ------------ ------ ------------ ------------
Re-elect Chris
6. Gibson-Smith 114,995,489 96.78 3,827,689 3.22 273 118,823,178
---- ------------------ ------------ ------ ------------ ------ ------------ ------------
7. Elect Paul Bishop 117,029,785 98.49 1,792,856 1.51 807 118,822,641
---- ------------------ ------------ ------ ------------ ------ ------------ ------------
Re-elect Ian
9. Cormack 118,335,665 99.59 486,709 0.41 1,074 118,822,374
---- ------------------ ------------ ------ ------------ ------ ------------ ------------
Re-elect Douglas
10. Ferrans 118,559,711 99.78 262,930 0.22 807 118,822,641
---- ------------------ ------------ ------ ------------ ------ ------------ ------------
Elect Clare
14. Spottiswoode 111,946,804 97.93 2,364,013 2.07 4,512,631 114,310,817
---- ------------------ ------------ ------ ------------ ------ ------------ ------------
Re-elect Richard
15. Ward 109,915,497 92.63 8,740,154 7.37 167,797 118,655,651
---- ------------------ ------------ ------ ------------ ------ ------------ ------------
Re-elect Simon
16. Waugh 98,572,925 82.96 20,249,716 17.04 807 118,822,641
---- ------------------ ------------ ------ ------------ ------ ------------ ------------
The Board is pleased to announce that all resolutions presented
at today's AGM were passed with a significant majority but notes
the votes cast against Resolutions 2, 3, 4 which relate to the
Company's executive remuneration structure and Resolution 16 which
relates to the re-election of one of the Company's Non-Executive
Directors.
The past year has been one of unprecedented change for
Partnership and, in response, the Remuneration Committee has
proposed a number of changes to the LTIP rules and Remuneration
Policy which the Board believes more closely align executive
remuneration with the interests of all shareholders. In advance of
the AGM, the Remuneration Committee sought to consult with
institutional shareholders and investor representative bodies on
the proposed changes. Prior to implementing the proposed changes to
the LTIP rules or making any awards, the Remuneration Committee
will seek further engagement with shareholders to discuss their
concerns and is committed to understanding any issues as part of an
ongoing dialogue.
The Board acknowledges that concerns regarding Board Committee
meeting attendance resulted in a number of votes against Resolution
16. During 2014 it was not possible to reschedule meetings to
accommodate the long-standing commitments of Directors who were
appointed part way through the year.
Full details of the resolutions were set out in the Notice of
Annual General Meeting, dated 13 March 2015.
Resolutions 1 to 20 were ordinary resolutions, requiring more
than 50% of shareholders' votes to be cast for the resolutions.
Resolutions 21 to 23 were special resolutions, requiring more
than 75% of shareholders' votes to be cast for the resolutions.
Copies of the resolutions dealing with special business passed
at the Annual General Meeting have been sent to the National
Storage Mechanism and will shortly be available for inspection at
www.hemson.com/nsm.do
NOTES:
1. All resolutions were passed.
2. Votes "For" and "Against" are expressed as a percentage of votes received.
3. Votes "For" include those votes giving Chairman discretion
4. A "Vote withheld" is not a vote in law and is not counted in
the calculation of the votes "For" or "Against" a resolution.
5. The issued share capital on 18 May 2015 was 399,999,971
ordinary shares of 10 pence each.
Enquiries
Investors:
-----------------------------------------------------------------------
Katherine Jones Mark Devin
Director of Investor Relations Interim Deputy Company Secretary
+44 (0) 207 444 8040 +44 (0) 207 444 8084
katherine.jones@partnership.co.uk mark.devin@partnership.co.uk
----------------------------------- ----------------------------------
Media
----------------------------------------------------------------
Jim Boyd Citigate Dewe Rogerson
Director of Corporate Affairs Grant Ringshaw, Shelly Chadda
+44 (0) 207 618 2744 +44 (0) 207 638 9571
pressoffice@partnership.co.uk
------------------------------- -------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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