Last checked at 12 May 2023 14:00
Balfour Beatty plc (the 'Company')
AGM Results
12 May 2023
Balfour Beatty plc announces that, at its Annual General Meeting ('AGM') held on 12 May 2023, the resolutions set out in the Notice of AGM dated 31 March 2023 were passed following a poll on each resolution.
Resolutions 1 to 17 were passed as Ordinary Resolutions and Resolutions 18 to 20 were passed as Special Resolutions. The table below details votes cast on each resolution.
| Votes For And Discretionary | % | Votes Against | % | Votes Total | Votes Withheld | % of ISC Voted (excluding shares held in Treasury) |
Resolution 1: To adopt the Directors' Report and Accounts for the year ended 31 December 2022 | 449,995,564 | 100.00 | 2,694 | 0.00 | 449,998,258 | 470,355 | 76.60% |
Resolution 2: To approve the Directors' Remuneration Report for the year ended 31 December 2022 | 427,684,140 | 94.95 | 22,735,424 | 5.05 | 450,419,564 | 49,049 | 76.68% |
Resolution 3: To approve the Directors' Remuneration Policy | 364,512,799 | 81.11 | 84,890,014 | 18.89 | 449,402,813 | 1,065,800 | 76.50% |
Resolution 4: To declare a final dividend of 7.0p per ordinary share of the Company | 450,464,495 | 100.00 | 1,680 | 0.00 | 450,466,175 | 2,438 | 76.68% |
Resolution 5: To re-elect Mr C Allen, Lord Allen of Kensington CBE as a Director | 350,875,923 | 83.61 | 68,763,630 | 16.39 | 419,639,553 | 30,829,060 | 71.44% |
Resolution 6: To re-elect Dr S R Billingham CBE as a Director
| 443,008,519 | 98.35 | 7,423,465 | 1.65 | 450,431,984 | 36,629 | 76.68% |
Resolution 7: To re-elect Mr S J Doughty CMG as a Director | 443,029,508 | 98.36 | 7,407,031 | 1.64 | 450,436,539 | 32,074 | 76.68% |
Resolution 8: To re-elect Ms A Drinkwater as a Director | 449,417,489 | 99.77 | 1,019,372 | 0.23 | 450,436,861 | 31,752 | 76.68% |
Resolution 9: To re-elect Ms L J Hardy as a Director | 448,229,061 | 99.51 | 2,194,065 | 0.49 | 450,423,126 | 45,487 | 76.68% |
Resolution 10: To re-elect Mr P J Harrison as a Director | 449,409,626 | 99.77 | 1,024,245 | 0.23 | 450,433,871 | 34,742 | 76.68% |
Resolution 11: To re-elect Mr M A Lucki as a Director | 449,365,735 | 99.76 | 1,071,318 | 0.24 | 450,437,053 | 31,560 | 76.68% |
Resolution 12: To re-elect Ms B J Moorhouse as a Director | 442,137,452 | 98.16 | 8,300,975 | 1.84 | 450,438,427 | 30,186 | 76.68% |
Resolution 13: To re-elect Mr L M Quinn as a Director | 450,293,811 | 99.97 | 147,989 | 0.03 | 450,441,800 | 26,813 | 76.68% |
Resolution 14: To reappoint KPMG LLP as auditor | 435,668,958 | 96.73 | 14,725,397 | 3.27 | 450,394,355 | 71,258 | 76.67% |
Resolution 15: To authorise the Directors to determine the remuneration of the auditor | 449,957,908 | 99.89 | 480,387 | 0.11 | 450,438,295 | 30,318 | 76.68% |
Resolution 16: To authorise the Company and its UK subsidiaries to incur political expenditure | 441,257,674 | 97.97 | 9,156,072 | 2.03 | 450,413,746 | 54,867 | 76.67% |
Resolution 17: To authorise the Directors to allot shares | 428,357,819 | 95.10 | 22,085,796 | 4.90 | 450,443,615 | 24,998 | 76.68% |
Resolution 18: To authorise the Directors to allot shares for cash on a non pre-emptive basis
| 447,876,110 | 99.43 | 2,556,628 | 0.57 | 450,432,738 | 35,875 | 76.68% |
Resolution 19: To renew the authority for the Company to purchase its own ordinary shares | 420,672,366 | 93.46 | 29,424,734 | 6.54 | 450,097,100 | 371,513 | 76.62% |
Resolution 20: To authorise the Company to hold meetings, other than an Annual General Meeting, on 14 clear days' notice | 433,239,347 | 96.18 | 17,220,787 | 3.82 | 450,460,134 | 8,479 | 76.68% |
Notes:
1. The "for" votes include those giving the Chair of the AGM discretion.
2. Votes "for" and "against" are expressed as a percentage of the total votes cast (excluding votes withheld).
3. The percentages above are rounded to two decimal places.
4. A vote withheld is not a vote in law and is not counted in the calculation of votes "for" or "against" a resolution.
5. Votes withheld are included in the percentage of issued share capital ('ISC') voted (excluding shares held in Treasury) calculation.
6. The total number of Ordinary Shares of 50p each in the Company in issue, excluding 19,444,151 treasury shares registered on the share register in the Company's name, at close of business on 10 May 2023 and the number used for the percentage of ISC voted was 587,434,407.
In accordance with Listing Rule 9.6.2R, copies of resolutions other than those concerning ordinary business passed at the Annual General Meeting will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Please do not hesitate to contact companysecretary@balfourbeatty.com should you have any queries regarding this announcement.
Balfour Beatty plc's Legal Entity Identifier is CT4UIJ3TUKGYYHMENQ17.
General enquiries:
Contact and telephone number for queries
Duly authorised officer of issuer responsible for making notification:
Tracey Wood, Group General Counsel and Company Secretary
Tel. +44 (0)20 7216 6800
Investor and analyst enquiries:
Jim Ryan
Tel. +44 (0) 7858 368527
jim.ryan@balfourbeatty.com
Antonia WaltonTel. +44 (0) 7966 929 633 antonia.walton@balfourbeatty.com
Notes to editors:
· Balfour Beatty is a leading international infrastructure group with 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.
· We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
· Over the last 113 years we have created iconic buildings and infrastructure all over the world including: the £1.5 billion A14 improvement scheme - Britain's biggest road project; Hong Kong's HK$5.5 billion world-class harbour theatre project for the West Kowloon Cultural District Authority; and the 12.5 mile $429 million North Metro Commuter Rail line in Colorado, US.