Result of AGM

RNS Number : 2976M

Weir Group PLC

26 April 2018

 

THE WEIR GROUP PLC

26 April 2018

LEI 549300KDR56WHY9I3D10

AGM Voting Results 2018

The Annual General Meeting of The Weir Group PLC was held on Thursday 26 April 2018 at 2.30 pm.  All resolutions were passed on a poll. Resolutions 19 to 23 were passed as special resolutions.

		VOTES FOR	%	VOTES AGAINST	%	VOTES TOTAL	% of ISC VOTED	VOTES WITHHELD
Resolution 1	To receive and adopt the report and financial statements.	185,051,117	99.94	112,821	0.06	185,163,938	76.77%	1,764,026
Resolution 2	To declare a final dividend.	186,927,118	100.00	0	0.00	186,927,118	77.51%	846
Resolution 3	To approve the Directors' Remuneration Report (excluding the Directors' Remuneration Policy).	182,144,580	97.82	4,067,742	2.18	186,212,322	77.21%	715,642
Resolution 4	To approve the Directors' Remuneration Policy.	172,580,892	92.35	14,286,238	7.65	186,867,130	77.48%	60,833
Resolution 5	To approve the Company's Share Reward Plan.	174,083,050	93.77	11,573,953	6.23	185,657,003	76.98%	1,269,482
Resolution 6	To approve the Company's All-Employee Share Ownership Plan.	186,422,988	99.74	493,689	0.26	186,916,677	77.50%	11,287
Resolution 7	To elect Clare Chapman as a Director of the Company.	184,263,644	98.58	2,645,253	1.42	186,908,897	77.50%	19,066
Resolution 8	To elect Barbara Jeremiah as a Director of the Company.	185,838,396	99.43	1,070,585	0.57	186,908,981	77.50%	18,983
Resolution 9	To elect Stephen Young as a Director of the Company.	186,620,942	99.85	284,800	0.15	186,905,742	77.50%	22,222
Resolution 10	To re-elect Charles Berry as a Director of the Company.	185,467,602	99.29	1,331,123	0.71	186,798,725	77.45%	129,238
Resolution 11	To re-elect Jon Stanton as a Director of the Company.	186,609,961	99.84	299,765	0.16	186,909,726	77.50%	18,238
Resolution 12	To re-elect John Heasley as a Director of the Company.	185,463,643	99.23	1,446,083	0.77	186,909,726	77.50%	18,238
Resolution 13	To re-elect Mary Jo Jaccobi as a Director of the Company.	186,506,199	99.78	406,831	0.22	186,913,030	77.50%	14,934
Resolution 14	To re-elect Sir Jim McDonald as a Director of the Company.	184,282,572	98.60	2,609,251	1.40	186,891,823	77.49%	36,140
Resolution 15	To re-elect Richard Menell as a Director of the Company.	176,149,847	94.24	10,760,378	5.76	186,910,225	77.50%	17,738
Resolution 16	To re-appoint PricewaterhouseCoopers LLP as Auditors of the Company.	186,702,278	99.90	194,872	0.10	186,897,150	77.49%	30,814
Resolution 17	That the Company's Audit Committee be authorised to determine the remuneration of the Auditors.	186,866,877	99.97	51,763	0.03	186,918,640	77.50%	5,052
Resolution 18	To renew the Directors' general power to allot shares.	169,262,431	90.56	17,649,662	9.44	186,912,093	77.50%	15,871
Resolution 19	To partially disapply the statutory pre-emption provisions.	186,820,058	99.96	65,896	0.04	186,885,954	77.49%	42,010
Resolution 20	To partially disapply the statutory pre-emption provisions in connection with an acquisition or specified capital investment.	166,021,503	88.83	20,870,941	11.17	186,892,444	77.49%	35,519
Resolution 21	To renew the Company's authority to purchase its own shares.	184,390,064	98.65	2,525,879	1.35	186,915,943	77.50%	12,020
Resolution 22	To reduce the notice period for general meetings.	177,070,745	95.11	9,112,454	4.89	186,183,199	77.20%	744,765
Resolution 23	To adopt the New Articles of Association of the Company.	186,884,445	99.99	17,837	0.01	186,902,282	77.50%	25,682

a)   Any proxy appointments which give discretion to the Chairman have been included in the "for" total.

b)   At close of business on 25 April 2018 there were 241,179,469 relevant shares in issue (excluding treasury shares). 

The Board is delighted that more than 90% of our investors voted in favour of our new remuneration policy, which reflects the active role they played in the consultation and in setting the proposals.  Based on the insights from our engagement exercise, the Board believes that the small minority who did not feel able to support the policy on this occasion reflects a continued preference for conventional LTI awards among some investors.  We will continue to actively engage with these investors to discuss the merits of our new policy and its appropriateness for Weir.

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:

Christopher Morgan

Company Secretary

Telephone: [phone]

 

END

 

 

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