REG - IP Group PLC - Result of AGM

IPAnnouncement

14/06/2022 15:45

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RNS Number : 8602O  IP Group PLC  14 June 2022

 FOR RELEASE ON  14 June 2022

 

IP Group plc - Results of Annual General Meeting ("AGM")

 

The Annual General Meeting of IP Group plc was held earlier today. All of the
Resolutions proposed at the AGM were passed by the appropriate majority on a
poll.

 

IP Group plc Annual General Meeting Poll Results

 

     RESOLUTION                                                                       VOTES        %       VOTES        %      VOTES        % of ISC VOTED  VOTES

FOR
AGAINST
TOTAL
WITHHELD
 1   To receive the Directors' Report, the Audited Statement of Accounts and          806,173,634  99.99   53,070       0.01   820,514,461  77.19           14,287,757
     Auditor's Report of the Company for the financial year ended 31 December 2021.
 2   To approve the Directors' Remuneration Report for the year ended 31 December     763,846,946  93.10   56,606,501   6.90   820,514,461  77.19           61,014
     2021.
 3   To approve the Directors' Remuneration Policy                                    654,265,665  80.67   156,765,453  19.33  820,514,461  77.19           9,483,343
 4   To approve the final dividend for the year ended 31 December 2021.               820,488,114  100.00  3,668        0.00   820,514,461  77.19           22,679
 5   To approve the use of treasury shares for the purposes of the Scrip Dividend     820,390,986  99.99   49,983       0.01   820,514,461  77.19           73,492
     Scheme
 6   To re-appoint KPMG LLP as auditor of the Company.                                815,013,477  99.34   5,424,033    0.66   820,514,461  77.19           76,951
 7   To authorise the Directors to fix the remuneration of KPMG LLP as auditor of     820,225,645  99.97   266,088      0.03   820,514,461  77.19           22,728
     the Company.
 8   To re-elect Mr David Baynes as a Director of the Company.                        808,024,548  98.49   12,380,914   1.51   820,514,461  77.19           108,999
 9   To re-elect Dr Caroline Brown as a Director of the Company.                      798,531,126  98.54   11,859,408   1.46   820,514,461  77.19           10,123,927
 10  To re-elect Mr Heejae Chae as Director of the Company.                           813,247,919  99.13   7,162,190    0.87   820,514,461  77.19           104,352
 11  To re-elect Sir Douglas Flint as a Director of the Company.                      809,059,857  99.25   6,086,486    0.75   820,514,461  77.19           5,368,118
 12  To re-elect Ms Aedhmar Hynes as a Director of the Company.                       814,406,811  99.27   6,005,362    0.73   820,514,461  77.19           102,288
 13  To re-elect Mr Greg Smith as a Director of the Company.                          819,426,006  99.88   981,229      0.12   820,514,461  77.19           107,226
 14  To re-elect Dr Elaine Sullivan as a Director of the Company.                     728,160,003  88.76   92,252,870   11.24  820,514,461  77.19           101,588
 15  To authorise the Directors to                                                    815,294,587  99.37   5,150,841    0.63   820,514,461  77.19           69,033

     exercise all the powers of the Company to allot shares and grant rights to
     subscribe for or to convert any security into shares in the Company subject to
     the limits set out in the Annual General Meeting ("AGM") notice.
 16  To empower the Directors to allot equity securities for cash, or sell treasury   820,371,691  99.99   73,065       0.01   820,514,461  77.19           69,705
     shares, dis-applying statutory pre-emption rights subject to the limits set
     out in the AGM notice.
 17  In addition to the authority granted under Resolution 16, to empower the         796,575,071  97.09   23,871,632   2.91   820,514,461  77.19           67,758
     Directors to allot equity securities in connection with an acquisition or
     other capital investment as if section 561(1) of the Companies Act 2006
     ("Act") did not apply to any such allotment, subject to the limits set out in
     the AGM notice.
 18  To authorise the Company and its subsidiaries to incur political expenditure     792,339,024  96.57   28,150,682   3.43   820,514,461  77.19           24,755
     (as defined in section 365 of the Act) not exceeding £50,000 in total.
 19  To authorise the Company to make market purchases (as defined in section         815,103,021  99.35   5,354,215    0.65   820,514,461  77.19           57,225
     693(4) of the Act) of the Company's ordinary shares, subject to the limits set
     out in the AGM notice.
 20  To enable a general meeting other than an Annual General Meeting to be called    812,272,791  99.00   8,221,782    1.00   820,514,461  77.19           19,888
     on not less than 14 clear days' notice.
 21  To approve the rules of the IP Group plc Share Plan                              649,730,269  79.19   170,742,022  20.81  820,514,461  77.19           42,170

 

 

The Company was pleased that, following extensive shareholder engagement over
the months preceding the AGM, Resolution 21 (approval of the IP Group plc
Share Plan) was supported in a vote at today's AGM. The Board welcomes the
majority support but recognises that there were a number of votes opposing the
Resolution.

 

The rules of the IP Group Share Plan align with the Remuneration Policy
(approved under Resolution 3) and, together with the Remuneration Policy, were
developed following extensive consultation by the Remuneration Committee with
major shareholders, proxy agencies, independent advisors and employee
representatives. The Board therefore believes the IP Group Share Plan rules
are aligned with the long-term interests of the Company and its shareholders.
The Board notes that some shareholders do not currently share this view. The
views of all shareholders are important to the Board, and it acknowledges
these concerns. The Board will therefore continue to engage with shareholders
on these issues and will publish an update on that engagement within six
months of the AGM.

 

In accordance with Listing Rule 9.6.1, a copy of the Resolutions has been
submitted to the National Storage Mechanism and will shortly be available for
inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

 

Ends

 

 

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