REG - TT Electronics PLC - Result of AGM
RNS Number : 5738YTT Electronics PLC13 May 202113 May 2021
TT Electronics plc
("the Company")
Annual General Meeting Results
The Company is pleased to announce that all resolutions put to the Annual General Meeting of the Company held at 11.30 am on 13 May 2021 were duly passed.
A poll was conducted on resolutions 1- 18, the results of the poll were as follows.
RESOLUTION
VOTES FOR (including discretionary)
VOTES AGAINST
% of issued share capital voted
VOTES WITHHELD*
NUMBER
%
NUMBER
%
1. Receive Annual report and accounts
140,717,610
99.99%
19,221
0.01%
80.49
19,900
2. Remuneration report
101,152,644
77.46%
29,430,685
22.54%
74.68
10,173,399
3. Declare dividend
140,751,383
100.00%
545
0.00%
80.50
4,800
4. Re-elect Warren Tucker
140,591,337
99.97%
45,937
0.03%
80.43
119,454
5. Re-elect Richard Tyson
140,715,865
99.99%
20,588
0.01%
80.49
20,275
6. Re-elect Mark Hoad
140,719,875
99.99%
16,849
0.01%
80.49
20,004
7. Re-elect Jack Boyer
140,722,596
99.99%
14,128
0.01%
80.49
20,004
8. Re-elect Alison Wood
128,032,769
95.08%
6,628,059
4.92%
77.01
6,095,900
9. Re-elect Anne Thorburn
140,714,571
99.99%
19,454
0.01%
80.49
22,703
10. Re-appoint Deloitte LLP as Auditor
140,232,302
99.98%
26,585
0.02%
80.21
497,841
11. Auditors' remuneration
140,734,298
99.99%
18,017
0.01%
80.50
4,413
12. Authority to make political donations
137,746,894
98.29%
2,393,079
1.71%
80.15
616,755
13. Authority to allot shares
139,098,844
98.94%
1,486,134
1.06%
80.40
10,450
14. Authority to disapply pre-emption rights (1)**
140,281,951
99.80%
285,769
0.20%
80.39
27,708
15. Authority to disapply pre-emption rights (2)**
138,624,121
98.62%
1,945,512
1.38%
80.39
25,795
16. Purchase of own shares**
140,124,250
99.67%
466,099
0.33%
80.40
5,079
17. Notice of general meetings**
140,196,001
99.75%
355,006
0.25%
80.38
44,421
18. Adopt Articles of Association**
140,512,487
99.98%
30,854
0.02%
80.38
52,087
* A "vote withheld" is not a vote in law and is not counted in the calculation of the votes "for" and "against" a resolution.
** Special resolution.
The Board notes that, while all of the resolutions at today's Annual General Meeting were passed with the requisite majority, Resolution 2 (Approval of the Remuneration Report) passed with 77% of votes in favour.
Following recent engagement on our Remuneration Report with our major shareholders, we would like to thank those who discussed their views with us. We were reassured that a good majority supported the Remuneration Committee's proposed implementation of the Remuneration Policy for 2020. That said, we acknowledge that some shareholders did not agree.
Following the AGM, the Remuneration Committee will continue to engage with our major shareholders to fully understand their concerns. We will publish an update on our engagement within six months of the AGM, in accordance with the UK Corporate Governance Code.
In accordance with Listing Rule 9.6.2, copies of resolutions (other than the ordinary business resolutions) have been submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
L D Boardman
Group Company Secretary
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