Result of AGM

RNS Number : 8790W
Kier Group PLC
17 November 2017
 

KIER GROUP PLC

RESULT OF ANNUAL GENERAL MEETING

Kier Group plc (the "Company") is pleased to announce that all the resolutions proposed at its Annual General Meeting on 17 November 2017 were voted on, and passed, by way of a poll.  The results of the poll for each resolution were as follows:

Resolution

Total votes validly cast1

% voted2

Votes for

% votes

for3

Votes

against

% votes against3

Votes withheld1

1

To receive the annual report and accounts for the year ended 30 June 2017

57,335,503

58.83

56,884,975

99.21

450,528

0.79

4,298

2

To approve the directors' remuneration policy

49,993,862

51.30

45,132,928

90.28

4,860,934

9.72

7,311,115

3

To approve the directors' remuneration report for the year ended 30 June 2017

50,805,384

52.13

32,021,380

63.03

18,784,004

36.97

6,534,417

4

To declare a final dividend of 45.0p per share for the year ended 30 June 2017

57,338,801

58.83

57,321,517

99.97

17,284

0.03

1,000

5

To elect Mr P G Cox as a director

57,315,210

58.81

51,900,356

90.55

5,414,854

9.45

24,591

6

To re-elect Mr J R Atkinson as a director

57,314,708

58.81

52,006,810

90.74

5,307,898

9.26

25,093

7

To re-elect Mrs C F Baroudel as a director

57,313,850

58.81

52,022,633

90.77

5,291,217

9.23

25,951

8

To re-elect Mrs A K Bashforth as a director

57,326,745

58.82

51,999,367

90.71

5,327,378

9.29

13,056

9

To re-elect Mr N P Brook as a director

57,319,025

58.81

57,043,700

99.52

275,325

0.48

20,776

10

To re-elect Mr B E J Dew as a director

57,314,607

58.81

56,976,069

99.41

338,538

0.59

25,194

11

To re-elect Mr H J Mursell as a director

57,315,895

58.81

56,995,819

99.44

320,076

0.56

23,906

12

To re-elect Mr N A Turner as a director

57,328,257

58.82

57,067,496

99.55

260,761

0.45

11,544

13

To re-elect Mr C Veritiero as a director

57,328,358

58.82

57,087,156

99.58

241,202

0.42

11,443

14

To re-elect Mr A C Walker as a director

57,312,344

58.81

52,008,437

90.75

5,303,907

9.25

27,457

15

To re-elect Mr N P Winser as a director

57,327,460

58.82

51,988,410

90.69

5,339,050

9.31

12,341

16

To re-appoint PwC LLP as auditor

57,336,239

58.83

57,302,096

99.94

34,143

0.06

3,562

17

To authorise the directors to agree the remuneration of the auditor

57,334,082

58.83

57,304,017

99.95

30,065

0.05

5,719

18

To authorise the directors to allot shares

57,313,939

58.81

57,014,156

99.48

299,783

0.52

25,862

19

To authorise the directors to disapply pre-emption rights

57,307,259

58.80

56,949,012

99.37

358,247

0.63

32,542

20

To authorise the directors to disapply pre-emption rights - limited to an acquisition or specified capital investment

57,302,346

58.80

54,591,389

95.27

2,710,957

4.73

37,455

21

To approve an amendment to the Kier Group plc 2010 Long Term Incentive Plan

57,209,305

58.70

56,267,668

98.35

941,637

1.65

130,496

22

To authorise the Company to call general meetings, other than an annual general meeting, on not less than 14 clear days' notice

57,317,407

58.81

54,430,416

94.96

2,886,991

5.04

22,494

 

 

Notes:

 

1.      A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes validly cast.

2.      Expressed as a percentage of the total issued share capital on 15 November 2017.  The number of ordinary shares in issue on 15 November 2017 was 97,459,951.

3.      Expressed as a percentage of all votes validly cast (and does not include votes withheld). 

 

Shareholders are entitled to one vote per share. Resolutions 1 to 18 (inclusive) were passed as ordinary resolutions and resolutions 19 to 22 (inclusive) were passed as special resolutions. 

 

Resolution 2 (directors' remuneration policy) was passed with 90.28% votes in favour.

Resolution 3 (directors' remuneration report) was passed with 63.03% votes in favour.

 

The Board notes the level of opposition to resolution 3 and understands that a number of shareholders disagreed with the decision of the Remuneration Committee (the 'Committee') to award the Chief Executive an increase of 5% to his base salary from 1 July 2017, noting the pay increases awarded to him in recent years. This year, the Committee reviewed the Chief Executive's base salary in the context of revising the directors' remuneration policy. The Committee is satisfied that the Chief Executive's base salary reflects the progress made against Kier's Vision 2020 strategy and is now competitive. As a result, and having taken into consideration the average increases awarded across the Group, the Committee does not expect to approve significant increases in the base salary of the Chief Executive during the life of the new remuneration policy. If circumstances arise in which the Committee considers such an increase to be appropriate, it will engage with shareholders before making its final decision.

 

A copy of all resolutions passed, other than those concerning ordinary business, will today be submitted to the National Storage Mechanism in accordance with Listing Rule 9.6.2.  These resolutions will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.

 

The Kier Group plc Legal Entity Identifier is 2138002RKCU2OM4Y7O48.

 

For enquiries please contact:

Beth Melges

Deputy Company Secretary

Tel: +44(0)1767 640 111


This information is provided by RNS
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