30 Apr 2018 15:00
Old Mutual plc
Ref 203/18
30 April 2018
Results of shareholder voting at tODAY'S Annual General Meeting
At today's Annual General Meeting ("AGM") of Old Mutual plc ("the Company"), all of the resolutions set out in the Notice of Meeting were voted on by a poll and were duly passed. Details of the votes cast were as follows:
ORDINARY RESOLUTIONS
Resolution 1: To receive and adopt the directors' report and audited financial statements of the Group for the year ended 31 December 2017. | ||
Votes in favour | % of votes cast | Votes withheld |
3,682,732,091 | 99.49 | 4,856,212 |
Votes against | % of votes cast | |
18,766,222 | 0.51 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,701,498,313 | 75.04 | |
Resolution 2(i):To re-elect Mr M Arnold as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,668,583,477 | 99.69 | 26,300,804 |
Votes against | % of votes cast | |
11,470,245 | 0.31 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,680,053,722 | 74.60 | |
Resolution 2(ii): To re-elect Ms Z Cruz as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,208,482,368 | 87.18 | 26,237,639 |
Votes against | % of votes cast | |
471,634,518 | 12.82 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,680,116,886 | 74.61 | |
Resolution 2(iii): To re-elect Mr A Gillespie as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,211,091,354 | 87.25 | 26,134,327 |
Votes against | % of votes cast | |
469,128,844 | 12.75 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,680,220,198 | 74.61 | |
Resolution 2(iv): To re-elect Ms D Gray as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,156,866,745 | 85.80 | 27,179,792 |
Votes against | % of votes cast | |
522,307,988 | 14.20 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,679,174,733 | 74.59 | |
Resolution 2(v): To re-elect Mr B Hemphill as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,668,299,787 | 99.64 | 24,788,166 |
Votes against | % of votes cast | |
13,266,573 | 0.36 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,681,566,360 | 74.63 | |
Resolution 2(vi): To re-elect Ms A Ighodaro as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,653,629,195 | 99.28 | 26,387,650 |
Votes against | % of votes cast | |
26,337,680 | 0.72 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,679,966,875 | 74.60 | |
Resolution 2(vii): To re-elect Ms I Johnson as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,664,536,382 | 99.54 | 24,876,453 |
Votes against | % of votes cast | |
16,941,691 | 0.46 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,681,478,073 | 74.63 | |
Resolution 2(viii): To re-elect Mr T Manuel as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,648,945,533 | 99.09 | 24,018,281 |
Votes against | % of votes cast | |
33,390,711 | 0.91 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,682,336,244 | 74.65 | |
Resolution 2(ix): To re-elect Mr R Marshall as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,222,958,831 | 87.54 | 24,636,292 |
Votes against | % of votes cast | |
458,759,402 | 12.46 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,681,718,233 | 74.64 | |
Resolution 2(x): To re-elect Mr V Naidoo as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,028,344,266 | 82.55 | 37,742,248 |
Votes against | % of votes cast | |
640,268,009 | 17.45 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,668,612,275 | 74.37 | |
Resolution 2(xi): To re-elect Mr P O'Sullivan as a director of the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,548,807,838 | 96.41 | 25,211,170 |
Votes against | % of votes cast | |
132,335,517 | 3.59 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,681,143,355 | 74.63 | |
Resolution 3: To re-appoint KPMG LLP as auditors to the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,452,612,032 | 96.31 | 121,433,907 |
Votes against | % of votes cast | |
132,308,586 | 3.69 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,584,920,618 | 72.68 | |
Resolution 4: To authorise the Group Audit Committee to settle the remuneration of the auditors. | ||
Votes in favour | % of votes cast | Votes withheld |
3,679,793,399 | 99.93 | 23,921,511 |
Votes against | % of votes cast | |
2,639,615 | 0.07 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,682,433,014 | 74.65 | |
Resolution 5: To approve the Directors' Remuneration Report, other than the part containing the Directors' Remuneration Policy, for the year ended 31 December 2017. | ||
Votes in favour | % of votes cast | Votes withheld |
2,621,404,529 | 71.39 | 34,267,487 |
Votes against | % of votes cast | |
1,050,682,509 | 28.61 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,672,087,038 | 74.44 | |
Resolution 6: To grant authority to allot shares in the Company | ||
Votes in favour | % of votes cast | Votes withheld |
3,291,764,454 | 88.97 | 6,322,357 |
Votes against | % of votes cast | |
408,267,715 | 11.03 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,700,032,169 | 75.01 | |
SPECIAL RESOLUTIONS
Resolution 7: To grant authority to disapply pre-emption rights in allotting certain equity securities and selling treasury shares | ||
Votes in favour | % of votes cast | Votes withheld |
3,262,644,802 | 88.65 | 25,881,699 |
Votes against | % of votes cast | |
417,828,025 | 11.35 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,680,472,827 | 74.61 | |
Resolution 8: To grant the Board authority to repurchase shares by market purchase on the London Stock Exchange | ||
Votes in favour | % of votes cast | Votes withheld |
3,596,198,414 | 97.69 | 25,102,959 |
Votes against | % of votes cast | |
85,053,152 | 2.31 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,681,251,566 | 74.63 | |
Resolution 9: To approve contingent purchase contracts relating to purchases of shares on the African stock exchanges where the Company's shares are listed | ||
Votes in favour | % of votes cast | Votes withheld |
3,657,233,871 | 99.37 | 25,969,397 |
Votes against | % of votes cast | |
23,151,257 | 0.63 | |
Total votes cast (excluding votes withheld) | % of total shares eligible to vote | |
3,680,385,128 | 74.61 | |
Notes to the above tables:
· Votes in favour include proxy votes where the Chairman was given discretion how to vote.
· Votes withheld are not counted in the calculation of the proportion of votes for or against a resolution.
· The total number of shares eligible to vote was 4,932,791,533, being the total number of shares in issue at the close of business on 26 April 2018.
· In accordance with Listing Rules 9.6.2R and 9.6.3R, the full text of the resolutions passed, other than resolutions concerning ordinary business at the AGM, has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM
· Old Mutual notes the level of votes cast against resolution 5. We engage fully with shareholders and other stakeholders on matters of executive remuneration. Management is paid for performance with outcomes assessed against internal targets, peer group performance and external macro-economic measures, assuring the Remuneration Committee that the outcomes of the plans were appropriate for the performance delivered over the period. This approach is consistent with our commitment to align executive remuneration with stakeholder interests.
Enquiries
External communications | |
Patrick Bowes | +44 20 7002 7440 |
Investor relations | |
Dominic Lagan (Old Mutual plc) | +44 20 7002 7190 |
John-Paul Crutchley (Quilter) | +44 20 7002 7016 |
Nwabisa Piki (Old Mutual Emerging Markets) | +27 11 217 1951 |
Media | |
William Baldwin-Charles | +44 20 7002 7133 +44 7834 524833 |
Notes to Editors
About Old Mutual plc
Old Mutual plc is a holding company for several financial services companies. In March 2016, it announced a new strategy of managed separation entailing the separation of its underlying businesses into independently-listed, standalone entities.
BrightSphere Investment Group, a US based institutional asset manager, which rebranded from OM Asset Management in March 2018, is now independent from Old Mutual. The remaining underlying businesses are:
OML (which includes Old Mutual Emerging Markets): OML has an ambition to become a premium financial services group in sub-Saharan Africa and offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 17 countries.
Nedbank: Nedbank ranks as a top-5 bank by capital on the African continent and Ecobank, in which Nedbank maintains a 21.2% shareholding, ranks within the top-10 banks by assets on the African continent.
Quilter: Quilter (formerly Old Mutual Wealth) is a leader in the UK and in selected offshore markets in wealth management, providing advice-led investment solutions and investment platforms to over 900,000 customers, principally in the affluent market segment.
For the year ended 31 December 2017, Old Mutual reported an adjusted operating profit before tax of £2.0 billion. For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at www.oldmutualplc.com.