20 Jul 2017 11:49
Electrocomponents Plc
(the Company)
Results of Annual General Meeting
Electrocomponents Plc announces that all of the resolutions set out in the Notice of Meeting dated 30 May 2017 were passed by conducting a Poll at today's Annual General Meeting. Resolutions 15, 16, 17, 18 and 19 were passed as Special Resolutions.
Details of the proxy votes received in advance of the meeting are set out below and can be found on the Company's website at www.electrocomponents.com/investor-centre/corporate-governance/agm-information
Resolution |
Votes For (incl. Chairman's discretion) | % For (incl. Chairman's discretion) | Votes Against | % Against | Total votes validly cast |
Votes Withheld* | |
1. | To receive Report & Accounts for 2017 | 371,211,019 | 100.00 | 3,268 | 0.00 | 371,214,287 | 93,090 |
2. | To approve the Directors' remuneration report | 363,592,062 | 98.52 | 5,471,293 | 1.48 | 369,063,355 | 2,244,022 |
3. | To declare a final Dividend for 2017 | 371,256,607 | 99.99 | 50,770 | 0.01 | 371,307,377 | 0 |
4. | To elect Louisa Burdett | 371,030,443 | 99.98 | 64,704 | 0.02 | 371,095,147 | 212,230 |
5. | To elect Simon Pryce | 368,325,572 | 99.25 | 2,767,552 | 0.75 | 371,093,124 | 214,253 |
6. | To re-elect Bertrand Bodson | 370,469,999 | 99.83 | 624,086 | 0.17 | 371,094,085 | 213,292 |
7. | To re-elect David Egan | 370,423,389 | 99.82 | 671,076 | 0.18 | 371,094,465 | 212,912 |
8. | To re-elect Karen Guerra | 366,318,668 | 98.71 | 4,774,072 | 1.29 | 371,092,740 | 214,637 |
9. | To re-elect Peter Johnson | 369,674,339 | 99.62 | 1,419,357 | 0.38 | 371,093,696 | 213,681 |
10. | To re-elect John Pattullo | 370,503,229 | 99.84 | 589,511 | 0.16 | 371,092,740 | 214,637 |
11. | To re-elect Lindsley Ruth | 370,413,769 | 99.82 | 681,311 | 0.18 | 371,095,080 | 212,297 |
12. | To re-appoint PricewaterhouseCoopers LLP as auditor | 371,058,407 | 100.00 | 14,397 | 0.00 | 371,072,804 | 234,573 |
13. | To authorise Directors to agree remuneration of the auditor | 371,284,514 | 100.00 | 13,408 | 0.00 | 371,297,922 | 8,655 |
14. | To authorise Directors' authority to allot shares | 307,824,246 | 82.95 | 63,272,136 | 17.05 | 371,096,382 | 210,995 |
15. | To authorise Directors' authority to disapply pre‑emption rights up to 5% | 321,717,882 | 86.65 | 49,556,381 | 13.35 | 371,274,263 | 33,114 |
16. | To authorise Directors' authority to disapply pre‑emption rights for additional 5% | 291,311,952 | 78.46 | 79,955,311 | 21.54 | 371,267,263 | 40,114 |
17. | Renewal of the Directors' authority for purchase by Company of own shares | 368,298,473 | 99.31 | 2,562,186 | 0.69 | 370,860,659 | 446,718 |
18. | Notice Period for General Meetings | 352,540,081 | 94.95 | 18,765,699 | 5.05 | 371,305,780 | 1,596 |
19. | Adoption of amended Articles of Association | 368,202,106 | 99.22 | 2,880,900 | 0.78 | 371,083,006 | 224,371 |
* A "vote withheld" is not a vote in law and will not be counted in the calculation of the proportion of votes "for" or "against" a resolution, the total votes validly cast or the calculation of the proportion of issued share capital voted.
The Company has noted that the Resolutions are duly passed under the Companies Act 2006.
Although Resolution 14 (to authorise the directors to allot), Resolution 15 (to dis-apply pre-emption rights) and Resolution 16 (additional pre-emption rights) were passed with the requisite majority, 17%, 13% and 22% of the votes respectively were cast against each of these resolutions. The Board will continue its ongoing dialogue with its shareholders to understand any concerns regarding today's vote.
In accordance with Listing Rule 9.6.2., a copy of the Resolutions relating to Special Business has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.
Full details of all the Resolutions passed, together with explanatory notes, are set out in the Notice of AGM previously submitted to the National Storage Mechanism at http://www.morningstar.co.uk/uk/NSM and on the Company's website at http://www.electrocomponents.com/investor-centre/annual-reports.
The total number of shares in issue at 6pm on Wednesday, 19 July 2017 was 441,557,515 ordinary shares in the Company. A total of 84.09% of the share capital was voted.
IAN HASLEGRAVE
Company Secretary
20 July 2017
Registered office:
International Management Centre, 8050 Oxford Business Park North, Oxford OX4 2HWtel: +44 (0) 1865 204000
fax: +44 (0) 1865 207400
www.electrocomponents.com
LEI: 549300KVXDURRKVW7R37