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27 Nov 2009 16:14
Chairman's Statement: Associated British Engineering plc
27th November 2009
The adjourned Annual General Meeting of the Company has been held today following the Chairman's decision to call a poll on the Special Resolutions set out in the Notice of Meeting.
At the poll held today, the results of the poll on the Special Resolutions were:
1; granting the directors the authority to allot unissued share capital (resolution 5)
total votes cast; 145,261,092
total votes for; 97,172,560 (66.90%)
total votes against; 48,088,532 (33.10%)
Result; NOT CARRIED
2; permitting the limited dis-application of pre-emption rights on the issue of new shares (resolution 6)
total votes cast; 145,248,092
total votes for; 97,111,210 (66.86%)
total votes against; 48,136,882 (33.14%)
Result; NOT CARRIED
3; approving the adoption of new articles of association (resolution 7)
total votes cast; 145,289,292
total votes for; 121,411,692 (83.57%)
total votes against; 23,877,600 (16.43%)
Result; CARRIED
4; permitting general meetings to be called on 14 clear days' notice (resolution 8)
total votes cast; 145,308,492
total votes for; 97,259,492 (66.93%)
total votes against; 48,049,000 (33.07%)
Result; NOT CARRIED
The Board recommended these Special Resolutions on the basis of outside legal advice, and understands that these are quite commonplace in public companies. The Board is therefore disappointed in the results, but is pleased to note that the overwhelming majority of the votes cast were in favour, but not enough to satisfy the required level of 75%.
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