31 May 2019 16:03
31 May 2019
Lookers plc
(the "Company")
Result of Annual General Meeting
The Company is pleased to announce that at the Annual General Meeting held today, Friday 31st May 2019, the Resolutions as set out in the Notice of Meeting were passed.
For information, details of the proxy votes received in respect of the Resolutions are set out below:
Resolution | For | % | Against | % | Votes withheld |
1. Financial Statements | 308,350,356 | 100 | 0 | 0 | 189,804 |
2. Directors' Remuneration Report | 206,812,484 | 67.03 | 101,727,675 | 32.97 | 0 |
3. Final Dividend | 308,539,210 | 99.99 | 950 | 0.01 | 0 |
4. Re-elect Andy Bruce | 307,119,932 | 99.54 | 1,420,228 | 0.46 | 0 |
5. Re-elect Robin Gregson | 306,864,285 | 99.46 | 1,675,875 | 0.54 | 0 |
6. Re-elect Nigel McMinn | 307,119,982 | 99.54 | 1,420,178 | 0.46 | 0 |
7. Re-elect Tony Bramall | 306,867,584 | 99.46 | 1,672,576 | 0.54 | 0 |
8. Re-elect Phil White | 281,141,884 | 91.12 | 27,398,276 | 8.88 | 0 |
9. Re-elect Richard Walker | 298,444,038 | 96.73 | 10,096,122 | 3.27 | 0 |
10. Re-elect Sally Cabrini | 298,218,437 | 96.65 | 10,321,723 | 3.35 | 0 |
11. Re-elect Stuart Counsell | 297,018,766 | 96.31 | 11,380,975 | 3.69 | 140,419 |
12. Re-appoint Auditor | 250,449,778 | 81.17 | 58,090,382 | 18.83 | 0 |
13. Remuneration of Auditors | 308,536,624 | 99.99 | 950 | 0.01 | 2,586 |
14. Authority to Allot | 307,494,032 | 99.66 | 1,043,542 | 0.34 | 2,586 |
15. *Disapplication of Pre-emption Rights | 308,513,255 | 99.98 | 13,586 | 0.01 | 0 |
16. *Disapplication of Pre-emption Rights for Acquisitions and Capital Investments | 308,513,255 | 99.98 | 13,586 | 0.01 | 0 |
17. *Authority to Purchase Own Shares | 308,162,447 | 99.98 | 20,144 | 0.01 | 344,250 |
18. *General Meetings on 14 clear days' notice | 306,373,697 | 99.3 | 2,166,413 | 0.7 | 50 |
* Special Resolution
We have engaged with a large number of our major shareholders over the course of the year and in recent weeks and would like to thank them for giving us the opportunity to speak to them ahead of our AGM. We are disappointed that a number of shareholders who voted in favour of our remuneration policy in 2017 have not supported the advisory vote on the Remuneration Report at this year's AGM.
The Board believed that it was necessary to increase the CEO's base salary to ensure that remuneration remains competitive relative to the market, especially in the current uncertain economic environment. Notwithstanding this, the Remuneration Committee notes the concerns raised by shareholders, and will reflect on the feedback when its puts a new policy to shareholders at the 2020 AGM.
Notes:
i. Where shareholders appointed the Chairman as their proxy with discretion as to voting, their votes were cast in favour of the resolution and their shares have been included within the votes 'FOR' column.
ii. A vote 'WITHHELD' is not a vote in law and is not counted in the calculation of percentages of the votes cast against a resolution.
iii. Prior to the meeting there were 389,077,822 ordinary shares of 5 pence each in issue.
In accordance with the Company's obligations under Listing Rule 9.6.2, full details of the resolutions passed as special business will be submitted to the National Storage Mechanism and will shortly be available for viewing at www.morningstar.co.uk/uk/nsm.
For further information, please contact
Lookers | Tel: 0161 291 0043 |
Andy Bruce, Chief Executive Officer |
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Robin Gregson, Chief Financial Officer |
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Glenda MacGeekie, Company Secretary |
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