REG - Carr's Group PLC - Result of AGM

Carr'sAnnouncement

18/01/2022 15:00

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RNS Number : 8590Y  Carr's Group PLC  18 January 2022

 

 

 

CARR'S GROUP PLC ("Carr's" or the "Group")

Result of Annual General Meeting

Carr's (CARR.L), the Agriculture and Engineering Group, confirms that all
resolutions proposed at its Annual General Meeting ("AGM") held at 11:30am
today, 18 January 2022, were passed by shareholders.

The results of the proxy votes cast in advance of the meeting were as set out
below.  Votes withheld do not count in the number of votes counted for or
against a resolution.

 Resolution                                   Number of votes for  % of votes for  Number of votes against  % of votes against  Number of votes withheld  Total votes cast
 1. Approve Annual Report and Accounts        50,953,871           99.98           8,720                    0.02                3,606                     50,966,197
 2. Approve final dividend                    50,966,197           100             0                        0                   0                         50,966,197
 3. Re-elect Peter Page                       39,554,034           77.55           11,452,208               22.45               22,306                    51,028,548
 4. Re-elect Neil Austin                      41,607,339           81.57           9,398,956                18.43               22,253                    51,028,548
 5. Re-elect John Worby                       50,929,362           99.85           76,933                   0.15                22,253                    51,028,548
 6. Re-elect Ian Wood                         49,550,217           97.15           1,454,878                2.85                23,435                    51,028,548
 7. Appoint Grant Thornton UK LLP as Auditor  50,903,628           99.92           41,355                   0.08                21,234                    50,966,197
 8. Authorise remuneration of Auditor         50,930,563           99.96           19,181                   0.04                16,453                    50,966,197
 9. Approve Remuneration Report               46,674,005           96.89           1,500,203                3.11                2,791,989                 50,966,197
 10. Authorise allotment of shares            50,868,412           99.82           90,179                   0.18                7,606                     50,966,197
 11. Disapply pre-emption (general)           50,756,603           99.61           199,926                  0.39                9,671                     50,966,200
 12. Disapply pre-emption (investments)       50,774,503           99.65           180,879                  0.35                10,818                    50,966,200
 13. Authorise purchase of own shares         50,739,195           99.57           218,249                  0.43                8,753                     50,966,197
 14. Meetings on 14 days' notice              50,722,625           99.55           227,819                  0.45                15,753                    50,966,197

 

The total number of votes cast was 51,028,548 which represents 54% of the
Company's shareholders.  The Board is always open to constructive dialogue
with shareholders and is grateful to all those who took the time to consider
and vote on the resolutions proposed.

The Board notes that although resolutions 3 and 4, to re-elect Peter Page and
Neil Austin, were each passed with a significant majority, there were a
material number of votes cast against.  The primary reason for this was the
voting policy of a major shareholder which requires the Board to comprise a
majority of independent Non-Executive Directors and at least one female
member.  Prior to conclusion of the AGM, the Board did satisfy such
requirements although, upon Alistair Wannop and Kristen Eshak Weldon standing
down at the conclusion of AGM, this is currently not the case.  As previously
communicated, a process is underway for the appointment of an independent
Non-Executive Director.  A process is also underway relating to the
appointment of a new CEO for the Group at which point Peter Page will revert
to the position of Non-Executive Chairman.

An update on the position will be provided within six months as required by
the Corporate Governance Code 2018.

In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority
(FCA), a copy of the resolutions passed as Special Business at the AGM have
been submitted to the UK Listing Authority and will be available for public
inspection at the National Storage Mechanism (NSM)
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

 

Enquiries:

 

 Carr's Group plc                       Tel: +44 (0) 1228 554 600

Matthew Ratcliffe, Company Secretary

 

 

 

About Carr's Group plc:

 

Carr's is an international leader in manufacturing value added products and
solutions, with market leading brands and robust market positions in
Agriculture and Engineering, supplying customers in over 50 countries around
the world.  Carr's operates a decentralised business model that empowers
operating subsidiaries enabling them to be competitive, agile, and effective
in their individual markets whilst setting overall standards and goals.

Its Speciality Agriculture division manufactures and supplies feed blocks,
minerals and boluses containing trace metals and minerals for livestock.

Its Agricultural Supplies division manufactures compound animal feed,
distributes farm machinery and runs a UK network of rural stores, providing a
one-stop shop for the farming community.

Its Engineering division designs and manufactures bespoke equipment, including
robotic and remote handling equipment, and provides technical services
primarily into nuclear, oil and gas, and defence industries.

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