Last checked at 7 Jul 2022 12:53
LEI: 213800RPBXRETY4A4C59
Severn Trent Plc
(the "Company")
Results of the Annual General Meeting held on 7 July 2022, and PR24 draft methodology
Results of the Annual General Meeting
At the Annual General Meeting of Severn Trent Plc held on 7 July 2022, all the resolutions set out in the Notice of Meeting were approved by the shareholders which were voted by way of a poll. The total number of votes received for each resolution is set out below.
The Directors are pleased to announce that the shareholders of Severn Trent Plc passed all the resolutions that were proposed at this year's Annual General Meeting.
Resolutions 1 to 16 were passed as ordinary resolutions and resolutions 17 to 21 were passed as special resolutions.
In accordance with Listing Rule 9.6.2, a copy of the resolutions passed at the Meeting, other than resolutions concerning ordinary business, will shortly be available for inspection at the National Storage Mechanism, located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
In total, 78.05% of the issued share capital, excluding shares held in treasury, was voted and the percentages shown below are rounded to two decimal places.
PR24 draft methodology
This morning Ofwat, the economic regulator of the water sector in England and Wales, released its draft methodology for the 2024 price review ('PR24').
We are currently reviewing the methodology document and will host a call at 4pm BST on Tuesday 12 July 2022 to share our key takeaways. You can access the call via our website at severntrent.com.
www.severntrent.com
Results of Annual General Meeting
| RESOLUTION | VOTES FOR | % OF VOTES CAST | VOTES AGAINST | % OF VOTES CAST | VOTES CAST IN TOTAL | TOTAL VOTES CAST AS A % OF ISSUED SHARE CAPITAL | VOTES WITHHELD |
1 | Receive the Report and Accounts for the year ended 31 March 2022 | 195,924,201 | 99.97 | 62,447 | 0.03 | 195,986,648 | 78.02% | 116,273 |
2 | Approve the Directors' Remuneration Report | 179,181,598 | 95.06 | 9,316,047 | 4.94 | 188,497,645 | 75.04% | 7,605,276 |
3 | Declare a final ordinary dividend in respect of the year ended 31 March 2022 | 195,600,654 | 99.77 | 454,607 | 0.23 | 196,055,261 | 78.05% | 47,660 |
4 | Reappoint Kevin Beeston | 193,751,191 | 98.85 | 2,247,599 | 1.15 | 195,998,790 | 78.03% | 103,731 |
5 | Reappoint James Bowling | 195,895,801 | 99.95 | 106,017 | 0.05 | 196,001,818 | 78.03% | 100,703 |
6 | Reappoint John Coghlan | 193,752,149 | 98.85 | 2,247,667 | 1.15 | 195,999,816 | 78.03% | 102,705 |
7 | Appoint Tom Delay | 195,925,817 | 99.96 | 70,556 | 0.04 | 195,996,373 | 78.02% | 106,148 |
8 | Reappoint Olivia Garfield | 195,924,445 | 99.96 | 82,463 | 0.04 | 196,006,908 | 78.03% | 95,613 |
9 | Reappoint Christine Hodgson | 193,645,294 | 98.80 | 2,358,611 | 1.20 | 196,003,905 | 78.03% | 98,616 |
10 | Reppoint Sharmila Nebhrajani | 193,739,655 | 98.85 | 2,262,330 | 1.15 | 196,001,985 | 78.03% | 100,536 |
11 | Reappoint Philip Remnant | 193,603,948 | 98.84 | 2,272,334 | 1.16 | 195,876,282 | 77.98% | 226,239 |
12 | Appoint Gillian Sheldon | 195,928,942 | 99.96 | 71,447 | 0.04 | 196,000,389 | 78.03% | 102,132 |
13 | Reappoint Deloitte LLP as Auditor of the Company | 193,672,074 | 98.80 | 2,361,871 | 1.20 | 196,033,945 | 78.04% | 68,976 |
14 | Authorise the Audit and Risk Committee to determine the remuneration of the Auditor | 194,397,305 | 99.17 | 1,626,581 | 0.83 | 196,023,886 | 78.04% | 79,035 |
15 | Authorise political donations and political expenditure | 181,324,666 | 98.33 | 3,087,765 | 1.67 | 184,412,431 | 73.41% | 11,690,490 |
16 | Renew the Company's authority to allot shares | 189,304,071 | 96.57 | 6,716,858 | 3.43 | 196,020,929 | 78.03% | 81,990 |
17 | Disapply pre-emption rights generally, including on up to five per cent of the issued share capital | 193,745,506 | 99.78 | 423,109 | 0.22 | 194,168,615 | 77.30% | 1,934,306 |
18 | Disapply pre-emption rights on up to an additional five per cent of the issued share capital in connection with an acquisition or specified capital investment | 193,542,109 | 99.18 | 1,592,023 | 0.82 | 195,134,132 | 77.68% | 968,789 |
19 | Authorise the Company to make market purchases of its Ordinary Shares | 194,959,688 | 99.50 | 974,471 | 0.50 | 195,934,159 | 78.00% | 168,762 |
20 | Approve proposed amendments to the Articles of Association | 190,821,975 | 97.37 | 5,147,178 | 2.63 | 195,969,153 | 78.01% | 133,768 |
21 | Authorise general meetings of the Company, other than Annual General Meetings, to be called on not less than 14 clear days' notice | 186,960,483 | 95.37 | 9,067,302 | 4.63 | 196,027,785 | 78.04% | 75,136 |
Notes
1. Any proxy appointments which gave discretion to the Chair 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 the votes "for" and "against" a resolution.
3. Issued ordinary share capital (excluding shares held in treasury) at 7 July 2022: 251,196,960 shares.