Result of AGM

RNS Number : 3845N
Avon Rubber PLC
29 January 2021
 

29 January 2021

 

Avon Rubber p.l.c.

(the 'Company')

Result of AGM

Avon Rubber p.l.c. is pleased to announce that, at its Annual General Meeting held today, all the resolutions proposed in the Notice of Meeting were duly passed.

A breakdown of proxy votes lodged prior to the meeting for each resolution is set out below and will also be made available on the Company's website: www.avon-rubber.com



For

%

 

Against

%

 

Withheld

1

To receive the Report and Accounts

23,732,634 

99.99

3,119

0.01

199,790 

2

To approve the Directors' Remuneration Report

16,787,428 

76.30 

5,215,543 

23.70

1,932,572

3

To approve the Directors' Remuneration Policy

20,985,904 

87.69 

2,946,955 

12.31

2,684

4

To declare a final dividend

23,934,955

99.99

64

0.01

525

5

To re-elect Chloe Ponsonby as a Director

23,932,175

99.99

1,848

0.01

1,521

6

To re-elect Paul McDonald as a Director

23,754,372

99.99

642

0.01

180,530

7

To re-elect Nicholas Keveth as a Director

23,933,445

99.99

578

0.01

1,521

8

To elect Bruce Thompson as a Director

23,920,671

99.96

10,717

0.04

4,156

9

To elect Bindi Foyle as a Director

23,927,810

99.99

3,578

0.01

4,156

10

To elect Victor Chavez CBE as a Director

23,930,746

99.99

642

0.01

4,156

11

To re-appoint KPMG LLP as auditor of the Company

23,932,859

99.99

1,553

0.01

1,132

12

To authorise the Directors to determine the auditors' remuneration

23,934,064

99.99

690

0.01

790

13

To authorise the Company to make political donations (as defined in Companies Act 2006)

23,677,259

98.94

253,891

1.06

4,394

14

To amend the Articles of Association

23,931,973

99.99

1,014

0.01

2,557

15

To authorise the Directors to allot shares

22,695,426

94.83

1,238,496

5.17

1,622

16

To disapply pre-emption rights

23,929,214

99.98

4,608

0.02

1,722

17

To disapply pre-emption rights limited to a specified capital investment/acquisition

23,688,732

98.97

245,961

1.03

850

18

To authorise the Company to purchase its own shares

23,726,220

99.17

199,103

0.83

10,220

19

To authorise the Company to hold General Meetings on short notice

23,604,841

98.62

329,300

1.38

1,403

20

To amend the rules of the Company's Long-Term Incentive Plan

23,184,365

96.88

747,771

3.12

3,406

Notes

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

2.  A "vote withheld" is not a vote under English law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.

3.  Discretionary proxy votes lodged in favour of a third party have not been included in the "for", "against" or "total" figures. 

4.  At the date of the AGM the issued share capital of the Company is 31,023,292 ordinary shares.

Resolution 2 (Remuneration Report)

The Board notes that while Resolution 2 to approve the Directors' Remuneration Report was passed, a significant minority of shareholders voting (23.7%), chose not to support this resolution.

The Remuneration Committee gave careful consideration to executive remuneration during 2021 and consulted extensively with the Company's largest shareholders and the major proxy voting agencies. The views of all our shareholders are important to us and we will consult further with those shareholders who voted against this resolution to better understand their specific concerns.

The Company will provide an update within six months as required by the Corporate Governance Code 2018.

In accordance with paragraph 9.6.2 of the Listing Rules, a copy of the resolutions passed as special business along with the new articles of association will be submitted as soon as practicable to the National Storage Mechanism and will be available shortly for inspection at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

Miles Ingrey-Counter

Company Secretary

 

LEI: 213800JM1AN62REBWA71



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