Results of 2018 Annual General Meeting

RNS Number : 7333N
Clarkson PLC
10 May 2018
 

 

                                                                                   

10 May 2018

 

CLARKSON PLC

("the Company")

 

 

Results of 2018 Annual General Meeting

 

 

 

At the Annual General Meeting (AGM) of the Company held at 12 noon today at Commodity Quay, St Katharine Docks, E1W 1BF, all resolutions were passed on a poll. The total number of votes received on each resolution was as follows:

 

Description

Votes for

% of votes cast

Votes against

% of votes cast

Votes cast as

% of issued share capital

Votes

withheld

1

Report & Accounts

21,829,448

99.62

83,930

0.38

72.48%

8,992

2

Remuneration Report

10,773,329

57.24

8,049,314

42.76

62.26%

3,097,728

3

Final dividend

21,921,171

100

0

0.00

72.51%

1,200

4

Re-elect  Mr J Hughes-Hallett

20,659,184

96.13

830,918

3.87

71.08%

432,268

 

5

Re-elect  Mr A Case

21,839,579

99.64

78,137

0.36

72.50%

1,218

6

Re-elect Mr P Anker

21,842,140

99.64

77,890

0.36

72.50%

2,341

7

Re-elect Mr J D Woyda

21,432,166

97.77

488,986

2.23

72.51%

1,218

8

Re-elect Mr P Backhouse

21,045,366

96.15

842,128

3.85

72.40%

34,877

9

Re-elect Mr B Nergaard

21,035,923

96.12

849,589

3.88

72.39%

36,859

10

Re-elect Ms ML Clayton

21,029,508

96.09

856,003

3.91

72.39%

36,859

11

Re-elect Mr E Warner

17,850,660

83.34

3,567,420

16.66

70.84%

504,290

12

Re-appoint auditor

21,812,333

99.98

5,306

0.02

72.16%

104,731

13

Auditor's remuneration

21,823,029

99.99

1,253

0.01

72.19%

34,859

14

Authority to allot shares

20,300,262

92.75

1,587,007

7.25

72.39%

35,102

15

Authority for political donations

21,078,825

96.35

797,909

3.65

72.36%

11,978

16

Disapply pre-emption rights*

21,807,512

99.65

77,077

0.35

72.39%

4,123

17

Purchase own shares*

21,831,679

99.60

86,793

0.40

72.50%

3,898

18

Notice for general meetings*

21,359,060

97.44

561,913

2.56

72.51%

1,398

* Special resolution requiring 75% majority.

 

Notes:

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

2.   The total number of shares in issue is 30,233,179.

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

 

Statement regarding voting result

The Board notes the significant vote against Resolution 2 to approve the Directors' Remuneration Report. The principal area of concern relates to the Executive Directors' bonus scheme which is structured as a profit sharing arrangement. This scheme is contractual for the CEO and CFO/COO and the Remuneration Committee believes that it would be counter to the interests of shareholders to enter into a renegotiation of contractual arrangements.

During 2017 we engaged with our largest shareholders and the major proxy voting agencies and provided certain undertakings (set out in the Remuneration Report) which include a different remuneration structure for new directors. Notwithstanding this, the Remuneration Committee notes the concerns raised by shareholders and we will reflect on feedback received, whilst continuing to ensure that we maintain our focus on the best interests of the business and our ongoing strategy and values that we hold.

Availability of documents

In accordance with Listing Rule 9.6.2R, copies of the resolutions (other than those comprising ordinary business) passed at the AGM have been submitted to the UK Listing Authority and are available for inspection at the UKLA's Document Viewing Facility located at www.morningstar.co.uk

                                                                                                                                   

 

Enquiries:

 

Clarkson PLC

Rachel Spencer - Group Company Secretary, Clarkson PLC               Tel:  +44(0) 20 7334 3476

                                                                                               

Camarco                                                                                         

Billy Clegg                                                                                        Tel:   020 3757 4983/ 020 3757 4994

Jennifer Renwick           


This information is provided by RNS
The company news service from the London Stock Exchange
 
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