TIDMRCH
RNS Number : 3121M
Reach PLC
07 May 2020
7 May 2020
Reach plc
Results of Annual General Meeting ("AGM")
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.
VOTES % VOTES % VOTES % of ISC VOTED VOTES
FOR AGAINST CAST WITHHELD
Annual Report and
1 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4 Dividend WITHDRAWN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
------------------------ ------------ ------- ----------- ------- --------------- -----------
Re-elect Nick
8 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
------------------------ ------------ ------- ----------- ------- --------------- -----------
Re-elect Helen
11 Stevenson 257,564,186 99.94% 155,256 0.06% 257,719,442 86.12% 9,012
------------------------ ------------ ------- ----------- ------- --------------- -----------
Re-elect Olivia
12 Streatfeild 252,394,728 97.93% 5,324,798 2.07% 257,719,526 86.12% 8,927
------------------------ ------------ ------- ----------- ------- --------------- -----------
Appoint
PricewaterhouseCoopers
13 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
------------------------ ------------ ------- ----------- ------- --------------- -----------
Disapplication of
16 pre-emption rights 257,606,658 99.96% 107,953 0.04% 257,714,611 86.11% 13,843
------------------------ ------------ ------- ----------- ------- --------------- -----------
Further disapplication
17 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
------------------------ ------------ ------- ----------- ------- --------------- -----------
Notice for General
20 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
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END
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