Evraz Plc Update on AGM 2021 resolutions (9527W)
December 29 2021 - 8:59AM
UK Regulatory
TIDMEVR
RNS Number : 9527W
Evraz Plc
29 December 2021
Update on AGM 2021 resolutions
29 December 2021 - EVRAZ plc (LSE: EVR) (the "Company")
announces that following the Company's 2021 Annual General Meeting
held on 15 June 2021 (the "AGM"), the Company announced that all of
the resolutions put forward to the meeting were passed with the
requisite majority of votes. However, in accordance with Provision
4 of the UK Corporate Governance Code 2018, the Company provides
this update following the significant vote against the resolution
to reappoint Alexander Izosimov as a director at the AGM
(Resolution 9). Although the resolution was passed at the AGM, the
Company has considered the views of a number of shareholders who
had at that point, advised that due to their concerns over gender
diversity at the Company, had voted against the reappointment of Mr
Izosimov, on the basis that Mr Izosimov is Chair of the Company's
Nominations Committee.
The Board of the Company ("Board"), assisted by its Nominations
Committee, has recently considered diversity across the Company in
detail and has adopted an updated policy with regard to board
diversity, covering both gender and ethnic diversity. The Board
recognises that the business operations of the Company,
predominantly in both the Russian Federation and North America,
have workforces that closely represent the diversity of the
communities where its operational plants are based.
With regard to Board representation, the Board is currently in a
state of transition, as two independent non-executive directors
agreed to remain on the Board after three new independent directors
had been appointed in June 2021. This was to assist with the
induction of the new appointees, against the backdrop of a major
demerger which has been announced to the market but not yet
completed. These two male individuals will step down after the
completion of the demerger. When they do, and additional
appointments are announced to replace another director who is due
to stand down in 2022, then the Company's gender percentage ratio
is anticipated to improve.
The Board has discussed the Parker review and its recommendation
to FTSE 100 boards. The Board will take this, and the
Hampton-Alexander review (predecessor of the FTSE Women Leaders
Review) recommendations, into account when recruiting to the Board.
It is, however, mindful that any appointment needs to be on the
basis of merit, and that with the geographical location of the
Company's operations being outside of the UK, other experiences may
be needed which better reflect a diversity of views for the benefit
of the Board and the Company's stakeholders.
The Nominations Committee chair will consult further with the
Company's shareholders ahead of the 2022 Annual General
Meeting.
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For further information:
Media Relations: Investor Relations:
+7 495 937 6871 +7 495 232 1370
+44 207 290 1096 +44 207 290 1095
media@evraz.com ir@evraz.com
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