Norcros PLC Results of AGM (0026G)

TIDMNXR

RNS Number : 0026G

Norcros PLC

21 July 2021

Norcros plc

("Norcros", the "Group" or the "Company")

Results of AGM

Following the Annual General Meeting held on 21 July 2021, Norcros plc announces the results of the poll vote for each resolution as follows:

 
    Annual General Meeting Resolutions numbered as per Notice of             For*              Against        Withheld 
                               Meeting 
                                                                         Number      %      Number      %      Number 
                        Ordinary Resolutions 
      To receive the audited accounts and the auditor's and 
      Directors' reports for the year ended 
 1    31 March 2021                                                    65,816,219  99.67   216,569     0.33      1,200 
 2    To declare a final dividend of 8.2 pence per ordinary share 
      for the year ended 31 March 2021.                                66,033,988   100       0           0          0 
 3    To approve the Directors' Remuneration Report for the year 
      ended 31 March 2021                                              45,930,648  69.56  20,097,340  30.44      6,000 
 4    To re-elect Alison Littley as a director                         63,304,082  95.87  2,729,905    4.13          1 
 5    To re-elect David McKeith as director                            64,806,982  98.14  1,227,006    1.86          0 
 6    To re-elect Nick Kelsall as a director                           65,935,548  99.85    98,440     0.15          0 
 7    To re-appoint BDO LLP as auditor                                 66,031,805  99.99     683       0.01      1,500 
 8    To authorise the Audit and Risk Committee of the Board to 
      determine the auditor's remuneration                             66,031,805  99.99    1,683      0.01        500 
 9    To authorise the Directors to allot shares up to the specified 
      limit                                                            65,628,196  99.39   400,292     0.61      5,500 
 Special Resolutions 
 10   To empower the Directors to disapply pre-emption rights up to 
      the specified limit.                                             65,679,152  99.46   354,336     0.54        500 
 11   To empower the Directors to disapply pre-emption rights up to 
      the specified limit in relation 
      to an acquisition or other specified capital investment          65,682,737  99.47   350,751     0.53        500 
 12   To grant authority to purchase own shares                        66,017,503  99.99    7,800      0.01      8,685 
 13   To approve calling of general meetings on not less than 14 
      clear days' notice.                                              65,913,054  99.82   120,934     0.18          0

*Votes 'For' include those votes giving the Chairman discretion. The votes withheld are not a vote in law and are not counted in the overall voting figures.

The Company's issued share capital consists of 80,887,039 ordinary 10p shares, each of which carries the right to one vote.

Full details of the resolutions were set out in the Notice of Annual General Meeting which is available on the Company's website at www.norcros.com.

In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Company's Statement Concerning Resolution 3 (Remuneration Report)

The Remuneration Committee and Board are obviously disappointed with the outcome of the voting on the remuneration report. Whilst we believe our executive remuneration arrangements are fully aligned with our Directors' Remuneration Policy, which was approved by a significant majority of our shareholders at our 2020 AGM, we place great value on direct engagement with and feedback from our shareholders. We will continue our active dialogue with shareholders; particularly those who decided to vote against this resolution to understand more fully their views. We will publish an update on that engagement and on any action taken as a result of this within six months of the AGM, in accordance with the UK Corporate Governance Code.

ENQUIRIES:

 
 Norcros plc                             Tel: 01625 547700 
 Nick Kelsall, Chief Executive Officer 
 Shaun Smith, Chief Financial Officer 
 
 Hudson Sandler                          Tel: 020 7796 
                                          4133 
 Nick Lyon

For further information, please visit the Company website: www.norcros.com

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July 21, 2021 06:40 ET (10:40 GMT)

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