Last checked at 10 May 2017 16:55
AGM RESULTS
ISE: DHG LSE: DAL
Dublin, 10 May 2017 | Dalata Hotel Group plc ("Dalata" or the "Group"), Ireland's largest hotel operator, today announces that all resolutions proposed at the Annual General Meeting of the Company were passed, results of which set out below. The full text of each resolution was included in the notice of the Annual General Meeting of the Company circulated to shareholders on 30 March 2017 and made available on the Company's website www.dalatahotelgroup.com
The Board is pleased with the very high levels of support for our Remuneration Policy with 99% votes in favour and with the 97% votes in support of the Long Term Incentive Plan. However, the Board is mindful of the concerns expressed by a number of shareholders in relation to executive remuneration which is reflected in the 25% vote against the 2016 report on remuneration.
The Company has had extensive dialogue with a significant number of our shareholders leading up to today's AGM which has helped clarify the issues, which primarily relate to percentage increases in salaries for the Chief Executive and two Executive Directors. We value the open dialogue which many of our shareholders had with us and we look forward to continuing this very constructive and open engagement on governance and remuneration matters in the future.
In accordance with the Listing Rules copies of the resolutions passed at the Annual General Meeting of the Company have been forwarded to both the Irish Stock Exchange and the UK National Storage Mechanism and will shortly be available for inspection at the following locations: -
Companies Announcements Office,
Irish Stock Exchange
28 Anglesea Street
Dublin 2
And
http://www.morningstar.co.uk/uk/NSM
The results of the voting, on each resolution, are outlined below. The total votes incudes proxy votes submitted in advance of the meeting and votes cast at the meeting by the directors and company secretary.
Resolution 1:
To receive and consider the accounts for the year ended 31 December 2016 together with the reports of the Directors and Auditors.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
135,254,696 | 100% | 0 | 0% | 135,254,696 | 0 |
135,254,696 |
Resolution 2:
To receive and consider the Director's Report on Remuneration for the year ended 31 December 2016.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
100,403,551 | 75% | 34,258,162 | 25% | 134,661,713 | 592,983 |
135,254,696 |
Resolution 3:
To receive and consider the Company's Remuneration Policy for the year ended 31 December 2016.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
134,056,854 | 99% | 1,197,842 | 1% | 135,254,696 | 0 |
135,254,696 |
Resolution 4 (a):
To re-appoint John Hennessy as a Director
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
135,041,417 | 100% | 213,279 | 0% | 135,254,696 | 0 |
135,254,696 |
Resolution 4 (b):
To re-appoint Pat McCann as a Director
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
133,324,884 | 99% | 1,929,812 | 1% | 135,254,696 | 0 |
135,254,696 |
Resolution 4 (c):
To re-appoint Stephen McNally as a Director.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
133,318,884 | 99% | 1,935,812 | 1% | 135,254,696 | 0 |
135,254,696 |
Resolution 4 (d):
To re-appoint Dermot Crowley as a Director.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
133,324,884 | 99% | 1,929,812 | 1% | 135,254,696 | 0 |
135,254,696 |
Resolution 4 (e):
To re-appoint Robert Dix as a Director.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
131,140,774 | 97% | 4,113,922 | 3% | 135,254,696 | 0 |
135,254,696 |
Resolution 4 (f):
To re-appoint Alf Smiddy as a Director.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
131,715,578 | 97% | 3,539,118 | 3% | 135,254,696 | 0 |
135,254,696 |
Resolution 4 (g):
To re-appoint Margaret Sweeney as a Director.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
131,170,416 | 97% | 4,084,280 | 3% | 135,254,696 | 0 |
135,254,696 |
Resolution 5:
To authorise the Directors to determine the remuneration of the Auditors.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
131,362,989 | 97% | 3,884,407 | 3% | 135,247,396 | 0 |
135,247,396 |
Resolution 6:
To approve the Long Term Incentive Plan and authorise the Directors to adopt further plans based on the Long Term Incentive Plan.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
131,791,482 | 97% | 3,463,214 | 3% | 135,254,696 | 0 |
135,254,696 |
Resolution 7:
To authorise the Directors to allot shares.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
134,995,396 | 100% | 259,300 | 0% | 135,254,696 | 0 |
135,254,696 |
Resolution 8:
Special resolution to authorise the Directors to dis-apply statutory
pre-emption rights.
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
134,690,078 | 100% | 564,618 | 0% | 135,254,696 | 0 |
135,254,696 |
Resolution 9:
Special resolution to authorise the Directors to dis-apply statutory
pre-emption rights in additional circumstances
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
124,378,123 | 92% | 10,876,573 | 8% | 135,254,696 | 0 |
135,254,696 |
Resolution 10:
Special resolution to allow the Director's to call a general meeting using the shorter notice period (14 clear days)
Votes For | Votes Against | Total Votes | Votes Withheld | Total including withheld | ||
No. | % | No. | % | Votes | ||
128,417,052 | 95% | 6,837,644 | 5% | 135,254,696 | 0 |
135,254,696 |
The "Vote Withheld" option is provided to enable abstention on any particular resolution. However, it should be noted that a "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" a resolution.
ENDS
Contacts
Dalata Hotel Group plc Sean McKeon, Chief Financial Officer and Company Secretary T: +353 1 206 9400 E: smckeon@dalatahotelgroup.com
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About Dalata
Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 41 hotels with over 8,000 rooms. Dalata successfully operates Ireland's two largest hotel brands, Clayton Hotels and Maldron Hotels across Ireland and the UK, as well as managing a portfolio of partner properties. 24 of the hotels are owned by Dalata, 10 hotels are operated under lease agreements and 7 are operated under management agreements.
For the full year 2016 Dalata reported revenue of €290.5 million. Dalata is listed on the Main Market of the Irish Stock Exchange (DHG) and the London Stock Exchange (DAL).
For further information visit: www.dalatahotelgroup.com