23 May 2018 08:15
23 May 2018
LAMPRELL PLC("Lamprell" or the "Company", and with its subsidiaries the "Group")
RESULTS OF 2018 AGM
At the Annual General Meeting of the Company held at 10.00AM (local time) yesterday at 7th Floor, Jumeirah Emirates Tower, Sheikh Zayed Road, Dubai, United Arab Emirates, all the resolutions set out in the Notice of Annual General Meeting ("AGM Notice") published by the Company on 23 April 2018 were duly passed.
Voting on all resolutions was by way of a show of hands. Voting on resolutions 8, 10 and 12 was by Independent Shareholders (as defined in the AGM Notice) only.
FINAL PROXY VOTING TOTALS
Details of the final proxy votes received in respect of the resolutions proposed at the Annual General Meeting are as follows:
Resolution no | Business | TOTAL SHARES VOTED | FOR/ DISCRETION | 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 2017 | 277,563,208 | 277,563,208 | 0 | 1,846,528 | |||||
2 | To approve the Directors' annual report on remuneration for the year ended 31 December 2017 included in the 2017 Annual Report and Accounts | 279,408,478 | 204,758,392 | 74,650,086 | 1,259 | |||||
3 | To elect John Malcolm as a director of the Company | 279,409,073 | 273,475,322 | 5,933,751 | 663 | |||||
4 | To elect Christopher McDonald as a director of the Company | 279,409,336 | 276,366,654 | 3,042,682 | 401 | |||||
5 | To elect Antony Wright as a director of the Company | 279,409,074 | 275,208,489 | 4,200,585 | 663 | |||||
6 | To elect Nicholas Garrett as a director of the Company | 279,409,336 | 274,539,666 | 4,869,670 | 401 | |||||
7 | To elect James Dewar as a director of the Company | 279,409,336 | 279,405,850 | 3,486 | 401 | |||||
8 | To elect James Dewar as a director of the Company (Independent Shareholder vote) | 166,219,945 | 166,216,721 | 3,224 | 401 | |||||
9 | To elect Debra Valentine as a director of the Company | 279,409,073 | 269,239,204 | 10,169,869 | 663 | |||||
10 | To elect Debra Valentine as a director of the Company (Independent Shareholder vote) | 166,227,045 | 164,127,692 | 2,099,353 | 401 | |||||
11 | To elect Mel Fitzgerald as a director of the Company | 279,409,335 | 272,307,560 | 7,101,775 | 401 | |||||
12 | To elect Mel Fitzgerald as a director of the Company (Independent Shareholder vote) | 166,227,044 | 162,246,148 | 3,980,896 | 401 | |||||
13 | To appoint Deloitte LLP, Isle of Man, as auditors of the Company | 279,408,227 | 279,406,659 | 1,568 | 1,510 | |||||
14 | To authorise the directors to fix the auditors' remuneration | 279,407,473 | 279,405,905 | 1,568 | 2,264 | |||||
Special Business |
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15 | To authorise the directors to allot shares pursuant to Article 5.1 of the Company's Articles of Association | 279,408,582 | 279,404,784 | 3,798 | 1,155 | |||||
16 | To disapply the pre-emption rights pursuant to article 5.2 of the Company's Articles of Association | 279,408,582 | 279,396,784 | 11,798 | 1,155 | |||||
17 | To authorise the Company to make market purchases of its ordinary shares | 279,408,982 | 276,729,442 | 2,679,540 | 754 | |||||
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Our 2017 Directors' annual report on remuneration has been approved by shareholders with 73.3% of votes cast in favour of the resolution. While the Board is disappointed not to have received a higher level of support for the resolution given the report's conformity with our existing remuneration policy, we understand the specific concern raised by our shareholders and we will continue to actively engage with them on executive remuneration and other issues.
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: 341,726,570.
4. The Controlling Shareholder (as defined in the AGM Notice) was not eligible to vote on resolutions 8, 10 and 12. The Controlling Shareholder holds a total of 113,182,291 Ordinary Shares, equating to 33.12% of the issued ordinary share capital with voting rights.
** 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 will be submitted to the National Storage Mechanism and will be available for inspection at http://www.morningstar.co.uk/uk/nsm.
- Ends -
Enquiries:
Lamprell plc
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Tulchan Communications, London | |||||||
Martin Robinson | +44 (0) 207 353 4200 | ||||||
Martin Pengelley | |||||||