10 Jun 2014 10:04
10 June 2014
LAMPRELL PLC("Lamprell" or the "Company", and with its subsidiaries the "Group")
RESULTS OF 2014 AGM
The Annual General Meeting (the "AGM") of the Company was held today at 10:00 AM (UAE time), at 15th Floor, Rolex Tower, Sheikh Zayed Road, Dubai, United Arab Emirates.
Results of the AGM
All resolutions were passed on a show of hands with the exception of resolution 14 which was passed on a poll taken during the meeting. Resolution 14 is an ordinary resolution relating to proposed changes to the 2008 Performance Share Plan. In light of the vote at the AGM, our Remuneration Committee will re-engage with our shareholders on the Company's remuneration policy. We are committed to ensuring that our remuneration policy (and in particular the long-term incentive plans) takes account of shareholders' views and at the same time enables the Company to implement its strategy through an appropriately-incentivised management team. Once the consultation process has been completed, the Board will determine and announce what further actions it proposes to implement.
FINAL PROXY VOTING TOTALS
Details of the final proxy votes received in respect of the resolutions proposed at the AGM were as follows:
Resolution no | Business | TOTAL SHARES VOTED | FOR | AGAINST | WITHHELD |
Ordinary Business | |||||
1 | To receive and adopt the Company's financial statements together with the reports of the directors and auditors for the period ending 31 December 2013 | 215,435,850 | 213,165,169 | 2,270,681 | 35,522 |
2 | To approve the Directors' remuneration policy included in the Annual Report and Accounts for 2013 | 215,372,691 | 126,520,155 | 88,852,536 | 98,681 |
3 | To approve the Directors' annual report on remuneration for the year ended 31 December 2013 included in the Annual Report and Accounts for 2013 | 208,453,911 | 118,906,818 | 89,547,093 | 7,017,461 |
4 | To elect Peter Whitbread as a director of the Company | 215,470,567 | 212,920,185 | 2,550,382 | 806 |
5 | To elect Joanne Curin as a director of the Company | 215,470,567 | 213,660,597 | 1,809,970 | 806 |
6 | To elect Michael Press as a director of the Company | 215,470,567 | 215,263,663 | 206,904 | 806 |
7 | To elect Ellis Armstrong as a director of the Company | 215,470,566 | 215,238,687 | 231,879 | 806 |
8 | To elect John Malcolm as a director of the Company | 215,470,567 | 214,539,621 | 930,946 | 806 |
9 | To appoint PricewaterhouseCoopers LLC, Isle of Man, as auditor of the Company | 215,436,414 | 206,384,021 | 9,052,393 | 34,958 |
10 | To authorise the directors to fix the auditor's remuneration | 215,436,075 | 214,992,911 | 443,164 | 35,297 |
TOTAL SHARES VOTED | FOR | AGAINST | WITHHELD | ||
Special Business | |||||
11 | To authorise the directors to allot shares pursuant to Article 5.1 of the Company's Articles of Association | 215,4768,522 | 129,231,314 | 86,237,208 | 2,851 |
12 | To disapply the pre-emption rights pursuant to article 5.2 of the Company's Articles of Association | 215,471,067 | 129,197,334 | 86,273,733 | 306 |
13 | To authorise the Company to make market purchases of its ordinary shares | 215,395,952 | 215,392,571 | 3,381 | 75,421 |
14 | To approve changes to the 2008 Performance Share Plan as detailed in the Notice of Annual General Meeting** | 130,842,123 | 80,375,752 | 50,503,318 | 36,947 |
Notes to proxy voting totals table:
1. Any proxy appointments which gave discretion to the Chairman have been included in the 'FOR' total.
2. A 'VOTE WITHHELD' is not a vote in law and is not counted in the calculation of the proportion of votes for or against a resolution and is not included in the total proxy votes received for each resolution.
3. Number of ordinary shares of 5 pence each in issue at meeting date: 260,363,101.
** These votes reflect the results of the poll taken during the meeting, rather than the proxy votes received.
Copies of the resolutions passed as Special Business have been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/nsm.
- Ends -
Enquiries:
Lamprell plc
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Tulchan Communications, London | |||||||
Christian Cowley | +44 (0) 207 353 4200 | ||||||
Martin Robinson | |||||||