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Reach PLC (RCH)

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Thursday 07 May, 2020

Reach PLC

Result of AGM

RNS Number : 3121M
Reach PLC
07 May 2020
 

7 May 2020

  Reach plc

 

 

In accordance with the arrangements announced on 7 April 2020, the AGM of Reach plc (the 'Company') was held today at 10.30 am at Stoke Mill, Woking Road, Guildford GU1 1QA.

 

All valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. Save for resolution 4, which was not put to the meeting, r esolutions 1 to 15 and 19 were passed as ordinary resolutions and resolutions 16 to 18 and 20 were passed as special resolutions. The results of the poll are set out below.

 

 

1

Annual Report and Accounts

252,448,687

99.98%

39,042

0.02%

252,487,729

84.37%

5,240,724

2

Remuneration Policy

244,766,337

96.91%

7,808,500

3.09%

252,574,837

84.40%

5,153,616

3

Remuneration Report

218,662,132

99.63%

819,763

0.37%

219,481,895

73.34%

38,246,558

4

Dividend

 WITHDRAWN

5

Elect Anne Bulford

257,563,346

99.94%

153,738

0.06%

257,717,084

86.12%

11,370

6

Elect Jim Mullen

251,705,903

97.67%

6,007,063

2.33%

257,712,966

86.11%

15,487

7

Re-elect Simon Fuller

256,931,503

99.73%

704,105

0.27%

257,635,608

86.09%

92,846

8

Re-elect Nick Prettejohn

257,534,335

99.93%

184,148

0.07%

257,718,483

86.12%

9,970

9

Re-elect Steve Hatch

172,992,422

67.13%

84,724,322

32.87%

257,716,744

86.12%

11,710

10

Re-elect David Kelly

249,865,515

96.95%

7,851,796

3.05%

257,717,311

86.12%

11,142

11

Re-elect Helen Stevenson

257,564,186

99.94%

155,256

0.06%

257,719,442

86.12%

9,012

12

Re-elect Olivia Streatfeild

252,394,728

97.93%

5,324,798

2.07%

257,719,526

86.12%

8,927

13

Appoint PricewaterhouseCoopers LLP

257,692,075

99.99%

29,384

0.01%

257,721,459

86.12%

6,995

14

Auditors' remuneration

257,697,642

99.99%

21,763

0.01%

257,719,405

86.12%

9,049

15

Allot shares

257,195,878

99.80%

516,538

0.20%

257,712,416

86.11%

16,038

16

Disapplication of pre-emption rights

257,606,658

99.96%

107,953

0.04%

257,714,611

86.11%

13,843

17

Further disapplication of pre-emption rights

252,430,428

97.95%

5,282,422

2.05%

257,712,850

86.11%

15,603

18

Purchase of own shares

252,464,752

97.98%

5,215,370

2.02%

257,680,122

86.10%

48,331

19

Political donations

220,557,951

85.59%

37,147,757

14.41%

257,705,708

86.11%

22,746

20

Notice for General Meetings

256,058,315

99.36%

1,659,072

0.64%

257,717,387

86.12%

11,067

 

Notes:

 

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

2.  The issued share capital figure used to calculate the percentage voted is 299,268,697.  This s the figure as at the close of business on 5 May 2020 and excludes the number of ordinary shares held in treasury at that date.

3.  As announced on 6 April 2020 the Board withdrew its recommendation of the final dividend for the financial year ended 29 December 2019. A confirmatory motion was passed by a simple majority on a show of hands at the Company's AGM earlier today to formally withdraw resolution numbered 4 relating to the approval of the final dividend.

 

 

The Board notes that although resolution 9, to re-elect Steve Hatch, was passed with the necessary majority, 32.87% of votes cast were against. The negative vote is understood to be due to Mr. Hatch's record of attendance at board and committee meetings in 2019. The Board regards Mr. Hatch's contribution as invaluable and benefits greatly from his expertise and strategic insight. Mr. Hatch is involved in all key debates and decisions.

 

The Company will seek to understand shareholders' reasons and concerns as part of its ongoing programme of engagement and will provide an update within 6 months as required by the UK Corporate Governance Code.

 

In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority (FCA), a copy of the resolutions passed as Special Business at the AGM have been submitted to the UK Listing Authority and will be available for public inspection at the National Storage Mechanism (NSM) https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

 

 

Enquiries

 

Reach plc

 

Jim Mullen, Chief Executive

Simon Fuller, Chief Financial Officer

Lorraine Clover, Group Company Secretary

 

020 7293 3000

Tulchan Communications

 

David Allchurch / Giles Kernick

020 7353 4200

 

 

 

 

LEI: 213800GNI5XF3XOATR61

Classification: 3.1 Additional Information

 

       

 


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