Last checked at 26 May 2016 17:17
Inchcape plc (the "Company")
26 May 2016
Result of Annual General Meeting
The Company announces that all resolutions proposed at the Annual General Meeting of the Company held earlier today were passed.
Details of the votes cast on all resolutions are set out below and will also be available on the Company's website: www.inchcape.com
In accordance with UK Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.
Resolution | Votes For | % For | Votes Against | % Against | Votes Withheld |
1. To receive the Accounts and Directors' and Auditors Reports | 338,854,279 | 99.94 | 212,922 | 0.06 | 298,370 |
2. To approve the Directors' Report on Remuneration | 213,903,231 | 63.50 | 122,942,981 | 36.50 | 2,519,357 |
3. To approve a final dividend of 14.1p per ordinary share | 339,305,264 | 99.98 | 60,000 | 0.02 | 307 |
4. To re-elect Ken Hanna as a Director | 332,008,618 | 98.48 | 5,129,299 | 1.52 | 2,227,654 |
5. To re-elect Stefan Bomhard as a Director | 338,967,938 | 99.89 | 387,615 | 0.11 | 10,018 |
6. To elect Richard Howes as a Director | 338,965,587 | 99.89 | 383,867 | 0.11 | 16,117 |
7. To re-elect Alison Cooper as a Director | 338,912,593 | 99.87 | 442,017 | 0.13 | 10,961 |
8. To re-elect John Langston as a Director | 338,760,012 | 99.83 | 591,698 | 0.17 | 13,861 |
9. To re-elect Coline McConville as a Director | 335,913,143 | 98.99 | 3,440,601 | 1.01 | 11,827 |
10. To re-elect Nigel Northridge as a Director | 326,934,445 | 96.34 | 12,418,189 | 3.66 | 12,937 |
11. To elect Nigel Stein as a Director | 338,404,609 | 99.72 | 938,675 | 0.28 | 22,287 |
12. To re-elect Till Vestring as a Director | 338,765,910 | 99.83 | 586,734 | 0.17 | 12,927 |
13. To reappoint PricewaterhouseCoopers LLP as Auditors | 333,443,230 | 98.26 | 5,921,114 | 1.74 | 1,227 |
14. To authorise the Directors to determine the Auditors' remuneration | 338,738,287 | 99.82 | 623,809 | 0.18 | 3,475 |
15. To authorise the Directors to allot relevant securities pursuant to section 560(1) of the Companies Act 2006 | 338,991,538 | 99.89 | 356,323 | 0.11 | 17,710 |
16. To empower the Directors to disapply pre-emption rights pursuant to Section 561 of the Companies Act 2006 | 318,891,732 | 95.26 | 15,868,241 | 4.74 | 4,605,598 |
17. To authorise the Company to make market purchases of its ordinary shares up to 10.0% of its issued share capital | 335,934,888 | 98.99 | 3,421,115 | 1.01 | 9,568 |
18. Notice of Meetings | 322,555,874 | 95.05 | 16,804,820 | 4.95 | 4,876 |
The Board notes that, although the resolution to approve the Directors' Report on Remuneration was passed with the requisite majority, some 36.5% of votes were cast against the resolution. We have engaged with the Company's major shareholders in order to fully understand their concerns relating to the Directors' Report on Remuneration and will continue to engage with shareholders throughout the year. Further details will be given in next years' Directors' Report on Remuneration.
Ends
1. Notes to editors
About Inchcape:
Inchcape is a leading global premium automotive group, operating in 26 markets with a portfolio of the world's leading car brands in the fast-growing luxury and premium segments. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.
The Company has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 14,500 people.
www.inchcape.com