Last checked at 21 Jul 2022 15:33
Halma plc Results of Annual General Meeting 2022
At the Annual General Meeting (AGM) of Halma plc held today, all the resolutions contained in the Notice of Meeting and put to the meeting were duly passed. Resolutions 1 to 19 were passed as ordinary resolutions and resolutions 20 to 23 were passed as special resolutions. The results of the poll are set out below.
* Includes discretionary votes. ** A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution. The shareholder vote to approve the Directors' Remuneration Report (Resolution 3) was passed with a majority of 67.14%.
The Board was pleased that the Resolution was approved and that the vast majority of our largest shareholders voted in favour. The Board however recognises that a meaningful proportion of shareholders did not support the Resolution.
The Board also notes that Resolution 10, the re-election of Jo Harlow, was supported by 76.78% of shareholders. We understand that those shareholders that did not support this Resolution did so because of her role as Remuneration Committee Chair.
Halma has a long history of exercising restraint on executive pay and the phased changes made over the last two years are a one-time reset. Recently, Andrew Williams has announced his retirement and current CFO Marc Ronchetti has been named CEO-Designate. The alignment of Halma's executive pay with the market provides the Nomination Committee with the tools it needs to attract the best external talent to the CFO role as quickly as possible.
Through the 2021 and 2022 financial years and prior to the 2022 Annual General Meeting we carried out comprehensive engagement with our largest shareholders and, as a result, modified our original plans. The Board would like to thank all the shareholders that have taken part in the engagement and for the feedback provided. We will continue to review our remuneration practices and engage with shareholders and their representative proxy bodies in the coming months. As part of this consultation, the Board will seek to fully understand the reasons behind these votes against and will provide an update in accordance with the UK Corporate Governance Code within six months of the Annual General Meeting.
A copy of the resolutions passed at the AGM other than resolutions concerning ordinary business will shortly be available for inspection via the National Storage Mechanism at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
About Halma Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day. Its purpose defines the three broad market areas where it operates:
· Safety - Protecting people's safety and the environment as populations grow, and enhancing worker safety · Environment - Addressing the impacts of climate change, pollution and waste, protecting life-critical resources and supporting scientific research · Health - Meeting the increasing demand for better healthcare as chronic illness rises, driving by growing and ageing populations and lifestyle changes.
It employs over 7,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index.
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