Last checked at 18 May 2017 17:10
AGM Results
Balfour Beatty plc (the "Company") announces that, at its Annual General Meeting ("AGM") held earlier today, the resolutions set out in the Notice of AGM dated 11 April 2017 were passed following a poll on each resolution.
The results of the polls were as follows:
For | Against | Votes Withheld | |
Resolution 1: To adopt the Directors' Report and Accounts for the year ended 31 December 2016
| 515,578,458 (99.94%) | 328,378 (0.06%) | 10,912,986 |
Resolution 2: To approve the Directors' Remuneration Report for the year ended 31 December 2016 | 509,605,262 (96.74%) | 17,155,440 (3.26%) | 59,119 |
Resolution 3: To approve the Directors' Remuneration Policy | 407,216,825 (77.18%) | 120,392,331 (22.82%) | 81,587 |
Resolution 4: To declare a final dividend on the ordinary shares of the Company | 526,815,105 (100.00%) | 3,018 (0.00%) | 1,699 |
Resolution 5: To re-elect Mr P S Aiken AM as a Director | 510,242,287 (98.67%) | 6,880,522 (1.33%) | 9,697,012 |
Resolution 6: To re-elect Dr S R Billingham as a Director | 516,541,658 (98.06%) | 10,209,617 (1.94%) | 68,547 |
Resolution 7: To re-elect Mr S J Doughty CMG as a Director | 525,078,920 (99.68%) | 1,668,277 (0.32%) | 72,625 |
Resolution 8: To re-elect Mr I G T Ferguson CBE as a Director | 517,424,417 (99.53%) | 2,417,558 (0.47%) | 6,977,847 |
Resolution 9: To re-elect Mr P J Harrison as a Director
| 525,213,571 (99.71%) | 1,537,853 (0.29%) | 68,070 |
Resolution 10: To re-elect Mr L M Quinn as a Director
| 520,135,803 (98.74%) | 6,612,733 (1.26%) | 71,286 |
Resolution 11: To reappoint KPMG LLP as auditor
| 524,988,434 (99.67%) | 1,758,919 (0.33%) | 72,469 |
Resolution 12: To authorise the Audit and Risk Committee of the Board to determine the remuneration of the auditor | 525,614,171 (99.78%) | 1,184,316 (0.22%) | 21,335 |
Resolution 13: To authorise the Company and its UK subsidiaries to incur political expenditure | 515,210,148 (97.81%) | 11,561,763 (2.19%) | 47,911 |
Resolution 14: To authorise the Directors to allot shares | 510,483,612 (96.91%) | 16,300,906 (3.09%) | 35,304 |
Resolution 15: To authorise the Directors to allot shares for cash on a non pre-emptive basis* | 517,676,594 (98.28%) | 9,083,349 (1.72%) | 59,879 |
Resolution 16: To renew the authority for the Company to purchase its own ordinary and preference shares* | 518,903,315 (99.16%) | 4,384,013 (0.84 %) | 3,532,493 |
Resolution 17: To authorise the Company to hold meetings, other than an Annual General Meeting, on 14 clear days' notice* | 498,168,262 (94.57%) | 28,624,762 (5.43%) | 26,797 |
* Special resolution
The Remuneration Committee notes the voting on Resolution 3, the binding vote on the Directors' Remuneration Policy.
The Group actively engages with its shareholders and believes that the Remuneration Policy changes are necessary, appropriate and in their best interests. Phase One of the Build to Last transformation programme has created a solid foundation for Balfour Beatty's future profitable growth, but there remains much to be done to achieve the Group's full potential value and the new Policy aligns with that goal. The Committee will ensure that implementation of the Policy, from target-setting to incentive awards, focuses on that objective and will continue to listen carefully to shareholders' views and consult on any material changes.
Notes:
1. The percentages above are rounded to two decimal places.
2. A vote withheld is not a vote in law and is not counted in the calculation of votes "For" and
"Against" a resolution.
3. The total number of Ordinary Shares of 50p each in the Company in issue at 6.00 pm on 16 May
2017 was 689,739,619, each carrying one vote.
4. Resolutions 15 to 17 were each passed as Special Resolutions.
In accordance with Listing Rule 9.6.2R, copies of each of Resolutions 13 to 17 will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
18 May 2017