Last checked at 17 May 2022 11:00
17 May 2022
Mears Group PLC
("Mears")
Result of AGM
Mears Group PLC held its Annual General Meeting ("AGM") earlier today.
In summary, all resolutions were duly passed on a poll. The results of each resolution are as follows:
Resolution | Votes For | Votes Against | Votes withheld | Total votes cast | Percentage of issued share capital voted (%) |
1 To receive and adopt the Directors' and Auditor's Reports and Audited Accounts for the year ended 31 December 2021 | 90,854,578 | 21,581 | 406,223 | 90,876,159 | 81.9% |
2 To approve the Remuneration report | 84,282,609 | 6,989,739 | 10,034 | 91,272,348 | 82.3% |
3 To re-appoint Ernst & Young LLP as auditor of the Company | 90,856,691 | 425,181 | 510 | 91,281,872 | 82.3% |
4 To authorise the Directors to fix the remuneration of the auditor | 91,255,707 | 26,307 | 368 | 91,282,014 | 82.3% |
5 To approve a final dividend of 5.5p per ordinary share | 91,277,097 | 5,134 | 151 | 91,282,231 | 82.3% |
6 To re-elect Kieran Murphy | 80,410,552 | 10,870,601 | 1,229 | 91,281,153 | 82.3% |
7 To re-elect David Miles | 90,871,410 | 409,743 | 1,229 | 91,281,153 | 82.3% |
8 To re-elect Andrew Smith | 83,061,020 | 8,220,133 | 1,229 | 91,281,153 | 82.3% |
9 To re-elect Alan Long | 81,152,394 | 10,128,759 | 1,229 | 91,281,153 | 82.3% |
10 To re-elect Julia Unwin | 80,739,473 | 10,541,874 | 1,035 | 91,281,347 | 82.3% |
11 To re-elect Jim Clarke | 81,116,332 | 10,164,821 | 1,229 | 91,281,153 | 82.3% |
12 To re-elect Chris Loughlin | 90,459,572 | 821,581 | 1,229 | 91,281,153 | 82.3% |
13 To re-elect Claire Gibbard | 81,144,512 | 10,136,835 | 1,035 | 91,281,347 | 82.3% |
14 To elect Angela Lockwood | 91,233,955 | 47,392 | 1,035 | 91,281,347 | 82.3% |
15 To authorise the Directors to allot relevant securities generally pursuant to Section 551 of the Companies Act 2006 | 84,697,957 | 6,584,425 | - | 91,282,382 | 82.3% |
16 To authorise the Directors to allot relevant securities pursuant to Section 570 of the Companies Act 2006 in connection with a rights issue, open offer or other offer of securities | 91,243,914 | 37,282 | 1,186 | 91,281,196 | 82.3% |
17 To authorise the Company to make market purchases of its ordinary shares | 90,743,364 | 398,304 | 140,714 | 91,141,668 | 82.1% |
18 To authorise the holding of general meetings on 14 clear days' notice | 84,384,235 | 6,895,996 | 2,151 | 91,280,231 | 82.3% |
Notes:
(i) Votes 'For' include those votes giving the Chairman discretion.
(ii) The number of ordinary shares in issue on 17 May 2022 was 110,953,774. Shareholders are entitled to one vote per share.
(iii) A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes validly cast.
Full details of the resolutions are set out in the Notice of Annual General Meeting dated 13 April 2022, which is available on the Company's website at https://www.mearsgroup.co.uk/meetings-voting/2022-notice-of-annual-general-meeting.
Resolutions 1 to 15 were ordinary resolutions, requiring more than 50% of shareholders' votes to be cast in favour of the resolutions. Resolutions 16 to 18 were special resolutions, requiring at least 75% of shareholders' votes to be cast in favour of the resolutions.
The Board is pleased that all resolutions have been approved by shareholders at the 2022 AGM.
A copy of all the resolutions passed at the Annual General Meeting has been submitted to the Financial Conduct Authority via the National Storage Mechanism and will shortly be available for inspection.
For further information, contact:
Mears Group PLC
Ben Westran, Company Secretary Tel: +44(0)1452 634600
Andrew Smith, Finance Director Tel: +44(0)7712 866 461
www.mearsgroup.co.uk
Notes for editors
Mears is the leading provider of services to the Affordable Housing sector in the UK: responsible for the maintenance of c.10% of the UK's social housing stock; and managing over 10,000 homes for local and central government.
Mears currently employs around 5,500 people and provides services in every region of the UK. In partnership with our Housing clients, we maintain, repair and upgrade the homes of hundreds of thousands of people in communities from remote rural villages to large inner-city estates. Mears has extended its activities to provide broader housing solutions to solve the challenge posed by the lack of affordable housing and to provide accommodation and support for the most vulnerable.
We focus on long-term outcomes for people rather than short-term solutions and invest in innovations that have a positive impact on people's quality of life and on their communities' social, economic and environmental wellbeing. Our innovative approaches and market leading positions are intended to create value for our customers and the people they serve while also driving sustainable financial returns for our providers of capital, especially our shareholders.