REG - Reach PLC - Result of AGM
RNS Number : 3121MReach PLC07 May 20207 May 2020
Reach plc
Results of Annual General Meeting ("AGM")
In accordance with the arrangements announced on 7 April 2020, the AGM of Reach plc (the 'Company') was held today at 10.30 am at Stoke Mill, Woking Road, Guildford GU1 1QA.
All valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. Save for resolution 4, which was not put to the meeting, resolutions 1 to 15 and 19 were passed as ordinary resolutions and resolutions 16 to 18 and 20 were passed as special resolutions. The results of the poll are set out below.
VOTES
FOR%
VOTES
AGAINST%
VOTES
CAST% of ISC VOTED
VOTES
WITHHELD1
Annual Report and Accounts
252,448,687
99.98%
39,042
0.02%
252,487,729
84.37%
5,240,724
2
Remuneration Policy
244,766,337
96.91%
7,808,500
3.09%
252,574,837
84.40%
5,153,616
3
Remuneration Report
218,662,132
99.63%
819,763
0.37%
219,481,895
73.34%
38,246,558
4
Dividend
WITHDRAWN
5
Elect Anne Bulford
257,563,346
99.94%
153,738
0.06%
257,717,084
86.12%
11,370
6
Elect Jim Mullen
251,705,903
97.67%
6,007,063
2.33%
257,712,966
86.11%
15,487
7
Re-elect Simon Fuller
256,931,503
99.73%
704,105
0.27%
257,635,608
86.09%
92,846
8
Re-elect Nick Prettejohn
257,534,335
99.93%
184,148
0.07%
257,718,483
86.12%
9,970
9
Re-elect Steve Hatch
172,992,422
67.13%
84,724,322
32.87%
257,716,744
86.12%
11,710
10
Re-elect David Kelly
249,865,515
96.95%
7,851,796
3.05%
257,717,311
86.12%
11,142
11
Re-elect Helen Stevenson
257,564,186
99.94%
155,256
0.06%
257,719,442
86.12%
9,012
12
Re-elect Olivia Streatfeild
252,394,728
97.93%
5,324,798
2.07%
257,719,526
86.12%
8,927
13
Appoint PricewaterhouseCoopers LLP
257,692,075
99.99%
29,384
0.01%
257,721,459
86.12%
6,995
14
Auditors' remuneration
257,697,642
99.99%
21,763
0.01%
257,719,405
86.12%
9,049
15
Allot shares
257,195,878
99.80%
516,538
0.20%
257,712,416
86.11%
16,038
16
Disapplication of pre-emption rights
257,606,658
99.96%
107,953
0.04%
257,714,611
86.11%
13,843
17
Further disapplication of pre-emption rights
252,430,428
97.95%
5,282,422
2.05%
257,712,850
86.11%
15,603
18
Purchase of own shares
252,464,752
97.98%
5,215,370
2.02%
257,680,122
86.10%
48,331
19
Political donations
220,557,951
85.59%
37,147,757
14.41%
257,705,708
86.11%
22,746
20
Notice for General Meetings
256,058,315
99.36%
1,659,072
0.64%
257,717,387
86.12%
11,067
Notes:
1. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.
2. The issued share capital figure used to calculate the percentage voted is 299,268,697. This s the figure as at the close of business on 5 May 2020 and excludes the number of ordinary shares held in treasury at that date.
3. As announced on 6 April 2020 the Board withdrew its recommendation of the final dividend for the financial year ended 29 December 2019. A confirmatory motion was passed by a simple majority on a show of hands at the Company's AGM earlier today to formally withdraw resolution numbered 4 relating to the approval of the final dividend.
The Board notes that although resolution 9, to re-elect Steve Hatch, was passed with the necessary majority, 32.87% of votes cast were against. The negative vote is understood to be due to Mr. Hatch's record of attendance at board and committee meetings in 2019. The Board regards Mr. Hatch's contribution as invaluable and benefits greatly from his expertise and strategic insight. Mr. Hatch is involved in all key debates and decisions.
The Company will seek to understand shareholders' reasons and concerns as part of its ongoing programme of engagement and will provide an update within 6 months as required by the UK Corporate Governance Code.
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
Reach plc
Jim Mullen, Chief Executive
Simon Fuller, Chief Financial Officer
Lorraine Clover, Group Company Secretary
020 7293 3000
Tulchan Communications
David Allchurch / Giles Kernick
020 7353 4200
LEI: 213800GNI5XF3XOATR61
Classification: 3.1 Additional Information
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