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REG - Weir Group PLC - Result of AGM 2019





 




RNS Number : 6389X
Weir Group PLC
30 April 2019
 

THE WEIR GROUP PLC

30 April 2019

 

 

AGM Voting Results 2019

 

The Annual General Meeting of The Weir Group PLC was held on Tuesday 30 April 2019 at 2.30 pm. 

All resolutions were passed on a poll. Resolutions 19 to 22 were passed as special resolutions.

 

The table below sets out the proxy voting results.

 



VOTES
FOR

%

VOTES
AGAINST

%

VOTES
TOTAL

% of ISC VOTED

VOTES
WITHHELD*

Resolution 1

To receive and adopt the report and financial statements.

212,560,343

99.98%

33,619

0.02%

212,593,962

81.89%

2,698,070

Resolution 2

To declare a final dividend.

215,180,419

100%

1,482

0%

215,181,901

82.89%

110,131

Resolution 3

To approve the Directors' Remuneration Report (excluding the Directors' Remuneration Policy).

198,708,685

93.09%

14,750,923

6.91%

213,459,608

82.23%

1,833,024

Resolution 4

To approve the amendments to the Company's Share Reward Plan and All-Employee Share Ownership Plan.

213,636,608

99.25%

1,606,731

0.75%

215,243,339

82.91%

48,693

Resolution 5

To elect Engelbert Haan as a Director of the Company.

214,724,091

99.81%

408,415

0.19%

215,132,506

82.87%

159,526

Resolution 6

To elect Cal Collins as a Director of the Company.

213,326,599

99.16%

1,803,263

0.84%

215,129,862

82.87%

162,170

Resolution 7

To re-elect Clare Chapman as a Director of the Company.

205,571,610

95.55%

9,567,380

4.45%

215,138,990

82.87%

153,042

Resolution 8

To re-elect Barbara Jeremiah as a Director of the Company.

212,427,119

98.74%

2,707,782

1.26%

215,134,901

82.87%

157,131

Resolution 9

To re-elect Stephen Young as a Director of the Company.

210,170,543

97.69%

4,971,007

2.31%

215,141,550

82.87%

150,482

Resolution 10

To re-elect Charles Berry as a Director of the Company.

211,696,771

98.40%

3,438,990

1.60%

215,135,761

82.87%

152,271

Resolution 11

To re-elect Jon Stanton as a Director of the Company.

213,601,682

99.29%

1,537,678

0.71%

215,139,360

82.87%

149,672

Resolution 12

To re-elect John Heasley as a Director of the Company.

211,978,705

98.53%

3,156,123

1.47%

215,134,828

82.87%

154,204

Resolution 13

To re-elect Mary Jo Jacobi as a Director of the Company.

213,118,813

99.06%

2,011,923

0.94%

215,130,736

82.87%

158,296

Resolution 14

To re-elect Sir Jim McDonald as a Director of the Company.

212,982,575

99%

2,152,103

1%

215,134,678

82.87%

154,354

Resolution 15

To re-elect Rick Menell as a Director of the Company.

156,112,165

75.19%

51,509,215

24.81%

207,621,380

79.98%

7,667,652

Resolution 16

To re-appoint PricewaterhouseCoopers LLP as Auditors of the Company.

215,123,753

99.98%

41,279

0.02%

215,165,032

82.88%

127,000

Resolution 17

That the Company's Audit Committee be authorised to determine the remuneration of the Auditors.

215,147,974

99.99%

29,306

0.01%

215,177,280

82.89%

114,752

Resolution 18

To renew the Directors' general power to allot shares.

201,400,404

93.56%

13,856,963

6.44%

215,257,367

82.92%

34,665

Resolution 19

To partially disapply the statutory pre-emption provisions.

214,710,088

99.75%

545,868

0.25%

215,255,956

82.92%

35,176

Resolution 20

To partially disapply the statutory pre-emption provisions in connection with an acquisition or specified capital investment.

202,177,019

93.92%

13,081,997

6.08%

215,259,016

82.92%

33,016

Resolution 21

To renew the Company's authority to purchase its own shares.

213,792,498

99.48%

1,127,623

0.52%

214,920,121

82.79%

371,018

Resolution 22

To reduce the notice period for general meetings.

204,779,358

95.53%

9,590,320

4.47%

214,369,678

82.58%

922,354

 

* A vote withheld is not a vote in law and is not counted in the calculation of proportion of votes For and Against a resolution.

 

With regard to the re-election of Rick Menell, we are pleased that he received votes in favour of over 75%, but note that support for his re-election was not as strong as that shown for other Directors. The context to Rick's extension is set in our Annual Report and this highlights the benefits of his continued service at a time of recent change in both Board composition and portfolio transformation.  

                                                                                                      

As required by the Corporate Governance Code, the Board thought very carefully about Rick's independence when assessing whether to propose he serve a further year and specifically considered the matter of Rick's tenure in considering the extension of his appointment as senior independent director. As set out in the Annual Report, the Nomination Committee were satisfied that Rick's tenure had not compromised his independence in any way and he is and remains independent in character and judgement notwithstanding the fact that he has served on the Board for more than nine years. As such, having made that determination of independence, this would naturally flow through to Committees on which Rick sits.

 

We maintain a programme of active engagement with our shareholders and will continue to take their views into account. Following election of directors at the AGM, committee composition and succession planning for the role of SID was already on the agenda to be discussed at the June Nomination Committee meeting.  

 

 

a)   Any votes that give discretion to the Chairman have been included in the "For" total.

b)   At close of business on 29 April 2019 there were 259,602,052 Ordinary Shares in issue (excluding treasury shares). 

 

 

A copy of the resolutions passed concerning special business has been submitted and will shortly be available for inspection at the National Storage Mechanism which is located at https://www.morningstar.co.uk/uk/NSM.

 

For further information, please contact:

 

 

Graham Vanhegan

Company Secretary

Telephone: 0141 308 3771


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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