Last checked at 22 Jul 2021 15:00
Halma plcResults of Annual General Meeting 2021
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 17 were passed as ordinary resolutions and resolutions 18 to 21 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. During 2020/21, the Remuneration Committee consulted extensively with Halma's largest shareholders, proxy advisors and shareholder representative organisations on the proposed Directors' Remuneration Report (Resolution 3) and the proposed Directors' Remuneration Policy (Resolution 4).
The Board was pleased to note that 92.88% of shareholders voted in support of the proposed Directors' Remuneration Report. Accordingly, the fiscal year 2022 salary change noted in the report will be implemented by the Remuneration Committee with effect from 1 June 2021.
The Board was also pleased to note that 60.18% of shareholders voted in support of the proposed Directors' Remuneration Policy, the first substantial change for six years. Accordingly, the Policy will take effect for three years from fiscal year 2022 and will be implemented by the Remuneration Committee.
The Board acknowledges that some shareholders did not support the Policy, in part due to the impact of concurrent increases in Executive Director salaries, the potential Bonus maximum award and the potential Long Term Incentive Plan (LTIP) maximum award, with 39.82% of shareholders voting against Resolution 4.
The Board will engage with shareholders in relation to these matters 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 and healthier future for people worldwide. Our innovative products and solutions address many of the key issues facing the world today. We operate in three sectors: Safety, Medical and Environmental & Analysis. We employ over 7,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia-Pacific. We target global niche markets where sustainable growth and high returns are supported by long-term drivers. Halma is listed on the London Stock Exchange and has been a member of the FTSE 100 index since December 2017.
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