Last checked at 20 Mar 2018 14:17
FOR IMMEDIATE RELEASE 20 MARCH 2018
CHEMRING GROUP PLC
Result of AGM
At the Annual General Meeting of Chemring Group PLC held on 20 March 2018 all resolutions in the Notice of Meeting were considered by shareholders by means of a poll vote and all resolutions were passed by the necessary majority.
The results of the polls on the resolutions are shown in the table below and will be posted on the Company's website www.chemring.co.uk
RESOLUTION | VOTESFOR | % | VOTES AGAINST | % | VOTESTOTAL | % of ISC VOTED | VOTES WITHHELD |
1 | 245,134,429 | 99.70 | 729,993 | 0.30 | 245,864,422 | 87.85% | 38,849 |
2 | 188,620,861 | 76.71 | 57,273,331 | 23.29 | 245,894,192 | 87.86% | 9,078 |
3 | 245,899,187 | 100.00 | 0 | 0.00 | 245,899,187 | 87.86% | 4,084 |
4 | 219,141,148 | 89.12 | 26,755,350 | 10.88 | 245,896,498 | 87.86% | 6,772 |
5 | 235,923,198 | 95.95 | 9,965,981 | 4.05 | 245,889,179 | 87.85% | 14,092 |
6 | 235,897,488 | 95.94 | 9,991,759 | 4.06 | 245,889,247 | 87.85% | 14,033 |
7 | 245,829,074 | 99.98 | 48,914 | 0.02 | 245,877,988 | 87.85% | 25,283 |
8 | 245,840,060 | 99.98 | 37,994 | 0.02 | 245,878,054 | 87.85% | 24,799 |
9 | 245,830,858 | 99.98 | 47,614 | 0.02 | 245,878,472 | 87.85% | 24,799 |
10 | 201,256,475 | 88.22 | 26,882,703 | 11.78 | 228,139,178 | 81.51% | 17,764,092 |
11 | 227,812,723 | 99.52 | 1,096,545 | 0.48 | 228,909,268 | 81.79% | 16,994,001 |
12 | 245,870,073 | 99.99 | 17,123 | 0.01 | 245,887,196 | 87.85% | 15,657 |
13 | 244,304,329 | 99.35 | 1,589,710 | 0.65 | 245,894,039 | 87.86% | 9,232 |
14 | 245,853,721 | 99.98 | 37,970 | 0.02 | 245,891,691 | 87.85% | 11,580 |
15 | 245,824,330 | 99.97 | 77,341 | 0.03 | 245,901,671 | 87.86% | 1,600 |
16 | 216,739,694 | 88.14 | 29,161,976 | 11.86 | 245,901,670 | 87.86% | 1,600 |
17 | 229,194,335 | 93.21 | 16,694,522 | 6.79 | 245,888,857 | 87.85% | 14,413 |
18 | 221,833,309 | 90.21 | 24,068,004 | 9.79 | 245,901,313 | 87.86% | 1,540 |
* ISC = Issued Share Capital of the Company
The Board is disappointed to note that whilst the resolution to approve the directors' remuneration report was passed with a substantial majority, there were a significant number of votes opposing the resolution. We will engage with shareholders and representative bodies to discuss their concerns relating to our remuneration report as part of the consultation leading up to the normal three-year review of Chemring's directors' remuneration policy. The new policy will be put to shareholders for approval at the 2019 Annual General Meeting.
A copy of the ordinary and special resolutions passed at the meeting will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM
Notes:
(i) Where shareholders appointed the Chairman as their proxy with discretion as to voting, their votes were cast in favour of the resolutions and their shares have been included in the "votes for" column.
(ii) A "vote withheld" is not a vote in law and is not counted in the calculation of the percentages of the votes cast for and against a resolution.
(iii) Resolutions 1 to 14 were passed as ordinary resolutions. Resolutions 15 to 18 were passed as special resolutions.
For further information:
Sarah Ellard | Group Legal Director & Company Secretary, Chemring Group PLC | +44 (0)1794 833901 |
Rupert Pittman | Group Director of Corporate Affairs, Chemring Group PLC | +44 (0)1794 833901 |
James White
| MHP Communications
| +44 (0)203 128 8100 |