AGM 2017 Result & Statement

RNS Number : 7469D
Rotork PLC
28 April 2017
 

Rotork plc

 

AGM Poll Result and Statement on the result of resolution 11 - Remuneration Report and copies of resolutions sent to National Storage Mechanism

 

 Rotork Plc - AGM - 28 April 2017 - Poll Result

 

Resolution

For 2

Against2

No. of Votes withheld3

Total Capital Instructed

No. of Shares

%

No. of Shares

%

1.   

To receive and adopt the Directors' Report and Accounts and the Auditor's Report

thereon for 2016

660,102,248

99.92

500,000

0.08

1,672,191

660,602,248

2.   

To declare a final dividend

662,149,151

100.00

0

0.00

125,288

662,149,151

3.   

To re-elect GB Bullard as a director

634,870,807

95.91

27,074,215

4.09

176,712

661,945,022

4.   

To re-elect JM Davis as a director

630,167,445

95.17

31,965,222

4.83

141,772

662,132,667

5.   

To re-elect PI France as a director

649,691,509

98.15

12,230,378

1.85

148,772

661,921,887

6.    

To re-elect SA James as a director

634,936,497

95.92

27,020,415

4.08

190,212

661,956,912

7.   

To re-elect MJ Lamb as a director

642,948,063

99.38

4,010,934

0.62

15,188,126

646,958,997

8.   

To re-elect LM Bell as a director

634,973,465

95.91

27,049,057

4.09

175,452

662,022,522

9.   

To re-appoint Deloitte LLP as Auditor of the Company

661,817,449

99.97

165,943

0.03

163,692

661,983,392

10. 

To authorise the directors to fix the remuneration of the Auditor

658,049,701

99.98

124,989

0.02

4,099,749

658,174,690

11. 

To approve the Directors' Remuneration Report

446,432,898

67.83

211,717,952

32.17

4,123,588

658,150,850

12. 

To approve the Directors' Remuneration Policy

656,105,809

99.11

5,910,277

0.89

181,888

662,016,086

13. 

To authorise the directors to allot shares

616,001,492

93.05

45,981,342

6.95

215,140

661,982,834

14. 

To enable the directors to allot shares for cash without first offering them to existing

shareholders for pre-emptive issues and general purposes*

658,755,283

99.53

3,137,016

0.47

294,585

661,892,299

15. 

To enable the directors to allot shares for cash without first offering them to existing

shareholders for acquisitions and other capital investments*

630,427,853

95.22

31,625,051

4.78

221,534

662,052,904

16. 

To authorise the Company to purchase ordinary shares*

654,330,799

98.94

7,043,264

1.06

773,060

661,374,063

17. 

To authorise the Company to purchase preference shares*

661,445,249

99.92

544,163

0.08

148,000

661,989,412

18. 

To fix the notice period for general meetings*

590,243,203

89.16

71,771,381

10.84

132,500

662,014,584

 

*Special Resolution

 

NOTES: 
1   All resolutions were passed.
2   Votes "For" and "Against" are expressed as a percentage of votes received.  
3   A "Vote withheld" is not a vote in law and is not counted in the calculation of the votes "For" or "Against" a resolution.
4   Total number of shares in issue at 6:30pm on 26 April 2017 = 870,115,432 shares. 76.11% of voting capital was instructed.

 

Resolution 11 Remuneration Report

The Board of directors of Rotork plc recognise the level of opposition for resolution 11, which was passed by 67.83% of shareholders voting in support.

 

The Remuneration Committee welcomes open dialogue with its shareholders and the changes to the executive directors' salary levels were made following an extensive consultation process with major shareholders.  The salary changes were made as part of a package along with changes to the remuneration policy and its implementation.  The remainder of the changes, which are set out in the new remuneration policy (for the period 2017-19), were very positively received by shareholders and the Company's new remuneration policy was supported by 99% of shareholders voting.  Under the newly approved remuneration policy, future salary increases for the executive directors during the policy period are limited to no higher than the average increase for other employees.  In consultation, the majority of shareholders were broadly comfortable with the combined impact of the changes.  The new policy has the strong support of shareholders and the Committee will continue to engage with the Company's largest shareholders on matters of significance.

 

Copies of the following:

·     Ordinary resolution to authorise the directors to allot shares

 

·     Special resolutions to:

Empower the directors to allot shares for cash without first offering to existing shareholders for pre-emptive issues for general purposes

Empower the directors to allot shares for cash without first offering to existing shareholders for pre-emptive issues for acquisitions and other capital investments

Authorise the Company to purchase ordinary shares

Authorise the Company to purchase preference shares

Fix the notice period for general meetings

being resolutions (other than resolutions concerning ordinary business) passed by the Company at its AGM on 28 April 2017, have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do.

 

Copies are also available from the Company Secretary, Rotork Plc, Rotork House, Brassmill Lane, Bath, BA1 3JQ

 

Full details of the poll results for all resolutions are detailed below and can be found at:

http://www.rotork.com/investors/index/agm

 

Enquiries:

 

FTI Consulting  

Tel:  + 44 (0)20 3727 1340

Nick Hasell / Susanne Yule

 

Rotork plc

Tel:  +44 (0)1225 733 200

Peter France, Chief Executive

 

Jonathan Davis, Finance Director

 

Sarah Matthews-DeMers, Director of Strategy and Investor Relations

 

 

 

 

28 April 2017


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