Last checked at 12 Jan 2021 15:34
CARR'S GROUP PLC ("Carr's" or the "Group")
Result of Annual General Meeting
Carr's (CARR.L), the Agriculture and Engineering Group, confirms that all resolutions proposed at its Annual General Meeting ("AGM") held at 11:30am today, 12 January 2021, were passed by shareholders.
Due to Government measures taken in response to the COVID-19 pandemic, the AGM was held as a closed meeting. Shareholders were encouraged to vote by proxy, and to submit any questions in advance of the meeting by email. Copies of the questions received by shareholders, together with responses, will be published in writing on the Company's website. Such questions will also be addressed in the Company's broadcast which is expected to be released on the Company's website later today at https://www.carrsgroup-ir.com/.
All resolutions were put to the meeting and approved on a poll, and the results are set out below. Votes withheld do not count in the number of votes counted for or against a resolution.
Resolution | Number of votes for | % of votes for | Number of votes against | % of votes against | Number of votes withheld | Total votes cast |
1. Receive Annual Report and Accounts | 48,332,849 | 99.97 | 14,694 | 0.03 | 0 | 48,347,543 |
2. Declare final dividend | 48,347,544 | 100.00 | 0 | 0 | 0 | 48,347,544 |
3. Re-elect Peter Page | 47,113,046 | 97.46 | 1,226,513 | 2.54 | 7,984 | 48,347,543 |
4. Elect Hugh Pelham | 48,263,640 | 99.86 | 67,270 | 0.14 | 16,634 | 48,347,544 |
5. Re-elect Neil Austin | 48,303,596 | 99.93 | 35,964 | 0.07 | 7,984 | 48,347,544 |
6. Re-elect Alistair Wannop | 47,016,481 | 97.26 | 1,323,079 | 2.74 | 7,984 | 48,347,544 |
7. Re-elect John Worby | 47,120,347 | 97.48 | 1,219,213 | 2.52 | 7,984 | 48,347,544 |
8. Re-elect Ian Wood | 47,109,473 | 97.46 | 1,230,087 | 2.54 | 7,984 | 48,347,544 |
9. Elect Kristen Eshak Weldon | 48,243,856 | 99.81 | 93,411 | 0.19 | 10,277 | 48,347,544 |
10. Re-appoint KPMG LLP as Auditor | 48,145,735 | 99.62 | 184,688 | 0.38 | 17,121 | 48,347,544 |
11. Authorise remuneration of Auditor | 48,300,748 | 99.92 | 38,339 | 0.08 | 8,457 | 48,347,544 |
12. Approve Remuneration Policy | 48,147,902 | 99.67 | 160,664 | 0.33 | 38,977 | 48,347,543 |
13. Approve Remuneration Report | 26,350,202 | 54.53 | 21,972,845 | 45.47 | 24,496 | 48,347,543 |
14. Authorise allotment of shares | 48,110,157 | 99.63 | 176,747 | 0.37 | 60,640 | 48,347,544 |
15. Disapply pre-emption (general) | 48,038,080 | 99.42 | 277,974 | 0.58 | 31,490 | 48,347,544 |
16. Disapply pre-emption (investments) | 48,050,152 | 99.45 | 265,901 | 0.55 | 31,490 | 48,347,543 |
17. Authorise purchase of own shares | 48,175,303 | 99.67 | 157,483 | 0.33 | 14,757 | 48,347,543 |
18. Meetings on 14 days' notice | 48,202,039 | 99.72 | 133,505 | 0.28 | 12,000 | 48,347,544 |
The Board notes that although resolution 13, to approve the Directors' Remuneration Report, was passed, 45.47% of votes cast were against. During 2020, the Remuneration Committee wrote to the Company's largest shareholders in relation to proposed changes to its Remuneration Policy and a review, supported by benchmarking, of the base salaries of the Company's Executive Directors. The Company also engaged directly with a number of shareholders prior to the AGM. The Company notes that its revised Remuneration Policy has been approved with overwhelming support (resolution 12 above). The Company will consult further with shareholders to better understand their views and provide an update within six months as required by the Corporate Governance Code 2018.
The total number of votes cast was 48,347,544 which represents 52% of the Company's shareholders. The Board is always open to constructive dialogue with shareholders and is grateful to all those who took the time to consider and vote on the resolutions proposed.
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:
Carr's Group plcMatthew Ratcliffe, Company Secretary | Tel: +44 (0) 1228 554 600 |
About Carr's Group plc:
Carr's is an international leader in manufacturing value added products and solutions, with market leading brands and robust market positions in Agriculture and Engineering, supplying customers in over 50 countries around the world.
Its Agriculture division manufactures and supplies feed blocks and supplementation products for livestock, distributes farm machinery and runs a UK network of rural stores, providing a one-stop shop for the farming community. Its Engineering division designs and manufactures bespoke equipment and provides technical engineering services into the nuclear, petrochemical, oil and gas, pharmaceutical, process and renewable energy industries, including robotic and remote handling equipment.