28 Sep 2018 13:03
FOR IMMEDIATE RELEASE | 28 september 2018 |
Clipper Logistics plc
Results of AGM
At the Annual General Meeting ("AGM") of Clipper Logistics plc ("Clipper", "the Group", or "the Company"), held on 28 September 2018 all the resolutions put to the meeting were passed, except resolutions 9 and 13 which were withdrawn by the Chairman during the meeting. The details of the votes cast are shown in a table below. The full text of each of the resolutions is shown in the Notice of the AGM, which is available on our website at www.clippergroup.co.uk. The maximum total of votes cast was 87,967,391 representing 86.65% of Clipper's issued share capital.
In accordance with Listing Rule 9.6.3 (1), copies of the resolutions (other than those resolutions comprising ordinary business) will shortly be made available for inspection on the National Storage Mechanism at www.morningstar.co.uk/uk/NSM.
AGM - Poll results
Resolution | Votes For | % For** | Votes Against | % Against** | Votes Total | Votes Withheld | |
1 | Annual Report and Accounts | 87,661,961 | 99.65% | 305,430 | 0.35% | 87,967,391 | 0 |
2 | Directors' Remuneration Report | 87,967,391 | 100.00% | 0 | 0.00% | 87,967,391 | 0 |
3 | Final Dividend | 87,967,191 | 100.00% | 200 | 0.00% | 87,967,391 | 0 |
4 | Re-appoint Auditors | 87,967,391 | 100.00% | 0 | 0.00% | 87,967,391 | 0 |
5 | Remuneration of Auditors | 87,967,391 | 100.00% | 0 | 0.00% | 87,967,391 | 0 |
6 | Re-elect Steven Parkin | 86,560,769 | 98.40% | 1,406,621 | 1.60% | 87,967,390 | 0 |
7 | Re-elect Antony Mannix | 87,943,159 | 99.97% | 24,232 | 0.03% | 87,967,391 | 0 |
8 | Allot shares | 86,462,791 | 98.65% | 1,185,377 | 1.35% | 87,648,168 | 319,221 |
10* | Notice period for general meetings | 87,822,316 | 99.84% | 145,075 | 0.16% | 87,967,391 | 0 |
11* | Allot equity securities for cash | 87,967,191 | 100.00% | 200 | 0.00% | 87,967,391 | 0 |
12* | Allot equity securities for cash - acquisition or capital investment | 86,619,891 | 98.47% | 1,347,499 | 1.53% | 87,967,390 | 0 |
14 | Rule 9 Panel waiver - share awards | 36,496,501 | 75.29% | 11,975,141 | 24.71% | 48,471,642 | 33,800 |
*Special Resolutions
*\* The percentage of votes cast for and against excludes withheld votes.
The Board notes that resolution 14, relating to the approval of the Panel Waiver given in connection with share awards made under the Company's Performance Share Plan to the Company's Chairman and certain other officers of the Company who are regarded as acting in concert, received a vote of 75.29%% in favour and recognises that a significant minority of shareholders have voted against this resolution.
Whilst the Board unanimously believes that the Remuneration Committee made the right decision in aligning executive reward to the shareholder experience, it is clear that there is a divergence of opinion amongst some shareholders as regards awards to the concert party. Looking forward, the Board notes that the Remuneration Committee intends to extend its engagement with the Company's shareholders to fully understand shareholder views and to enable it to better address the reasons behind today's vote result.
ENQUIRIES
Clipper: | +44 (0)113 204 2050 |
Steve Parkin, Executive Chairman | |
David Hodkin, Chief Financial Officer | |
Marianne Hodgkiss, Company Secretary |