Last checked at 6 Jul 2017 15:35
PENNON GROUP PLC
AGM STATEMENT
Results of the Annual General Meeting held on 6 July 2017 at Sandy Park Conference Centre, Sandy Park Way, Exeter, EX2 7NN
The Directors are pleased to announce that the shareholders of Pennon Group plc at the Company's Annual General Meeting on Thursday 6 July 2017 passed on a show of hands all the resolutions as set out in the Notice of Annual General Meeting dated 23 May 2017.
The following table summarises the proxy voting instructions received from shareholders prior to the meeting. In total, valid proxy instructions were received in respect of 70.32% of the issued share capital, excluding shares held in treasury.
A copy of each of the resolutions passed by the Company, other than resolutions concerning ordinary business, will be submitted and made available for inspection from the National Storage Mechanism at www.morningstar.co.uk
A copy of this announcement has been posted on the Company's website at www.pennon-group.co.uk/investor-information/shareholder-services
RESOLUTION | VOTES FOR | % FOR | VOTES AGAINST | % AGAINST | VOTES WITHHELD |
1. To receive and adopt for the annual reports and accounts for the year ended 31 March 2017.
| 292,818,208
| 99.99% | 19,449 | 0.01% | 27,052 |
2. To declare a final dividend in respect of the year ended 31 March 2017 of 24.87p for each ordinary share for payment on 1 September 2017.
| 292,790,643 | 99.97% | 80,988 | 0.03% | 4,078 |
3. To approve the Directors' remuneration report.
| 289,089,365 | 98.79% | 3,551,749 | 1.21% | 223,594 |
4. To approve the Directors' remuneration policy.
| 286,546,279 | 97.92% | 6,081,275 | 2.08% | 237,155 |
5. To re-elect Sir John Parker as a Director.
| 290,250,366 | 99.12% | 2,574,868 | 0.88% | 39,474 |
6. To re-elect Martin Angle as a Director.
| 289,056,080 | 98.72% | 3,760,798 | 1.28%
| 47,831
|
7. To re-elect Neil Cooper as a Director.
| 291,925,993
| 99.69%
| 895,592
| 0.31%
| 43,124
|
8. To re-elect Susan Davy as a Director.
| 291,337,857
| 99.49%
| 1,493,265
| 0.51%
| 33,587
|
9. To re-elect Christopher Loughlin as a Director.
| 291,606,966
| 99.58%
| 1,226,208
| 0.42%
| 31,535
|
10. To re-elect Gill Rider as a Director.
| 292,038,566
| 99.73%
| 789,665
| 0.27%
| 36,478
|
11. To re-appoint Ernst & Young LLP as auditor of the Company.
| 292,143,100
| 99.77%
| 681,749
| 0.23%
| 39,860
|
12. To authorise the Audit Committee to determine the remuneration of the auditor on behalf of the Board.
| 292,698,009
| 99.96%
| 120,250
| 0.04%
| 46,450
|
13. To authorise the Company and its subsidiaries to make political donations up to a specified limit.
| 290,255,757
| 99.16%
| 2,445,277
| 0.84%
| 163,675
|
14. To grant the Directors authority to allot shares.
| 281,266,420
| 96.34%
| 10,687,105
| 3.66%
| 911,184
|
15. To approve the Pennon Group long-term incentive plan.
| 286,075,486
| 97.74%
| 6,601,858
| 2.26%
| 187,365
|
16. To authorise the partial exclusion of pre-emption rights.
| 291,449,360
| 99.73%
| 777,895
| 0.27%
| 637,454
|
17. To authorise the partial exclusion of pre-emption rights in connection with an acquisition or specified capital investment.
| 277,227,457
| 94.86%
| 15,011,293
| 5.14%
| 625,959
|
18. To authorise the market purchase of the Company's shares.
| 290,210,954
| 99.10%
| 2,623,659
| 0.9%
| 30,096
|
19. To authorise a general meeting other than an AGM to be called on 14 clear days' notice.
| 282,158,650
| 96.35%
| 10,677,588
| 3.65%
| 28,470
|
Notes
i) The total votes cast in favour of each resolution includes those giving the Chairman discretion.
ii) The percentage is rounded to two decimal places.
iii) A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.
iv) Resolutions 16 to 19 are special resolutions.
v) The total number of ordinary shares of 40.7p each in issue at the meeting date, excluding shares held in treasury, was 416,450,997.
6 July 2017
www.pennon-group.co.uk
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