REG-Bodycote PLC: AGM Voting Update

BodycoteAnnouncement

09/11/2022 16:15

Bodycote plc

AGM Voting Update

9 November 2022

At Bodycote plc’s Annual General Meeting held on 25 May 2022, resolution 14
(Approval of the Remuneration Policy) was supported by a large majority of
shareholders but received less than 80% support. The principal concern of
shareholders was that salary increases and pension contributions for Executive
Directors are determined considering salary increases and pension
contributions for the wider workforce in the country the Executive Director
lives and / or works as well as the wider workforce across Western Europe
including the UK.

Following the 2022 Annual General Meeting, the Committee wrote to the
Company’s largest shareholders and key proxy agencies to confirm that this
is not a change in how we remunerate the Executive Directors and is entirely
consistent with the approach applied for several years. The Committee invited
comments in 2020 and again in 2022 from the Company’s largest shareholders
to ensure the rationale for this approach is fully understood, and how, in
practice, the Committee determines salary increases for the Executive
Directors.

The Committee continues to consider the approach to be appropriate. 

The Committee thanks shareholders who provided comments.

U. Ball, Group Company Secretary, Bodycote plc

Tel:  +44 (0)1625 505300



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