REG - Future PLC - Result of AGM

FutureAnnouncement

03/02/2022 13:40

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RNS Number : 6455A  Future PLC  03 February 2022

3 February 2022

FUTURE PLC

 

Result of Annual General Meeting

 

The Board of Future plc would like to thank all shareholders for casting their
votes at this year's AGM following a year of exceptional performance by the
Company.

The Board notes that Resolutions 1,2 and 4-19 were passed with the requisite
majority in favour. Resolution 3, the Approval of the Directors' Report on
Remuneration, did not pass. As a result, the Board will initiate a new
consultation process with shareholders regarding the matter.

The Board remains of the view that the all-employee Value Creation Plan, which
was approved by shareholders at the 2021 AGM, incentivises and rewards the
whole Future workforce and supports the long-term success of the business, and
the continued creation of sustainable long-term shareholder value. The plan is
directly aligned to shareholder interests and will only vest if the Company
delivers exceptional performance.

The Board also acknowledges certain votes against Resolution 3 were based on
the discretion exercised by the Remuneration Committee in respect of the
leaving provisions of former CFO Rachel Addison. The Board believes that the
leaving provisions were in the best interests of shareholders and that the
value of downwards discretion applied significantly more than offset the value
of upwards discretion.

 

Future has a longstanding policy of keeping remuneration under review and of
constructive engagement to ensure it is aligned with the shareholder and
employee experience.

 

The Board is grateful for the time and feedback provided by shareholders on
these matters and will continue to engage constructively with shareholders in
relation to them. In accordance with the UK Corporate Governance Code, the
Company will publish an update on ongoing engagement within six months of the
AGM.

 

The results of votes cast by proxy for each resolution were as follows:

 Resolution  Votes for    %       Votes against  %      Total votes  % of ISC* voted  Votes withheld
 1           104,421,629  99.95   50,114         0.05   104,471,743  86.49            296,055
 2           104,765,631  100.00  36             0.00   104,765,667  86.73            2,166
 3           44,450,501   44.56   55,313,381     55.44  99,763,882   82.59            5,003,951
 4           101,532,007  98.84   1,187,813      1.16   102,719,820  85.04            2,048,013
 5           95,351,464   91.01   9,413,630      8.99   104,765,094  86.73            2,739
 6           103,854,148  99.13   910,942        0.87   104,765,090  86.73            2,743
 7           64,060,547   61.18   40,654,552     38.82  104,715,099  86.69            52,734
 8           93,062,081   88.92   11,599,019     11.08  104,661,100  86.65            106,733
 9           68,377,406   65.30   36,337,694     34.70  104,715,100  86.69            52,733
 10          99,005,065   94.50   5,760,107      5.50   104,765,172  86.73            2,661
 11          103,694,100  98.98   1,070,990      1.02   104,765,090  86.73            2,743
 12          98,622,264   94.14   6,142,909      5.86   104,765,173  86.73            2,660
 13          104,758,464  99.99   5,336          0.01   104,763,800  86.73            4,033
 14          104,760,204  100.00  5,101          0.00   104,765,305  86.73            2,528
 15          95,260,623   90.93   9,506,742      9.07   104,767,365  86.74            468
 16          99,216,961   94.86   5,379,752      5.14   104,596,713  86.59            171,120
 17          100,091,366  95.54   4,674,589      4.46   104,765,955  86.73            1,878
 18          98,248,003   93.78   6,515,957      6.22   104,763,960  86.73            3,873
 19          102,458,799  97.80   2,306,580      2.20   104,765,379  86.73            2,454

* Issued share capital

 

Notes:

1.     As at the date of the AGM, the Company had 120,788,965 ordinary
shares in issue. The Company did not hold any shares in treasury and therefore
the number of total voting rights as at the date of the AGM was 120,788,965.

2.     The full text of the resolutions is set out in the notice of annual
general meeting, which can be found on pages 174 to 175 of the 2021 Annual
Report.

3.     Percentages are expressed as a proportion of the total votes cast.

4.     A vote withheld is not a vote in law and is not included in the
calculation of the votes "For" or "Against" the resolution.

5.     Any proxy appointments which gave discretion to the Chairman have
been included in the "For" total.

 

 

 Future plc

 Anne Steele, Company Secretary                                           Tel: +44 (0)1225 442244

 Marion Le Bot, Head of Investor Relations
 Media enquiries

 Stephen Malthouse / Rob Walker / Charlie Twigg                           Tel: +44 (0) 203 805 4822
 future@headlandconsultancy.com (mailto:future@headlandconsultancy.com)

 

Legal Entity Identifier (LEI): 213800K2581YRLEXV353

 

About Future

Future is a global platform business for specialist media with diversified
revenue streams. Its content reaches 1 in 2 adults online in the UK and 1 in 3
in the US.

 

The Media division is high-growth with complementary revenue streams including
eCommerce for products and services, events, and digital advertising
(including advertising within newsletters and video). It operates in a number
of sectors including technology, games & entertainment, music, home &
gardens, sports, TV & film, real life, knowledge, wealth & savings,
women's lifestyle and B2B. Its brands include TechRadar, PC Gamer, Tom's
Guide, Android Central, Truly, The Week, Kiplinger, GoCompare, Digital Camera
World, Homebuilding & Renovating Show, GamesRadar+, The Photography Show,
Top Ten Reviews, Marie Claire, Live Science, Guitar World, MusicRadar,
Space.com, What to Watch, Gardening Etc, Adventure and Tom's Hardware.

 

The Magazine division focuses on publishing specialist content, with a
combined global circulation of over 3 million delivered through more than 131
magazines, and 735 bookazines published a year. The portfolio spans
technology, knowledge, games & entertainment, sports, music, photography
& design, homes & garden, country lifestyle, TV & film and B2B.
Its titles include Country Life, Wallpaper*, Woman & Home, The Week,
Classic Rock, Decanter, Guitar Player, FourFourTwo, Homebuilding &
Renovating, Digital Camera, Guitarist, How It Works, Total Film, What Hi-Fi?
and Music Week.

 

 

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