Last checked at 4 Jun 2013 11:39
4 June 2013
Vesuvius plc - Result of Annual General Meeting ("AGM")
Vesuvius plc ("the Company") confirms that at its first AGM today, each of the resolutions set out in the Notice of Meeting to Shareholders dated 22 April 2013, was passed by Shareholders.
A poll was conducted on each resolution at the meeting and the results, certified by the scrutineer, Equiniti Limited, were as follows:
RESOLUTIONS | FOR | AGAINST | TOTAL | |||||
No. of votes cast1 | % of votes cast | No. of votes cast | % of votes cast | No. of votes cast | % of Issued Share Capital2 | Votes withheld3 | ||
1 | Receipt of Annual Report and Accounts | 217,355,940 | 98.80 | 2,630,774 | 1.20 | 219,986,714 | 78.99% | 159,660 |
2 | Declaration of Final Dividend | 220,143,452 | 100.00 | 1 | 0.00 | 220,143,453 | 79.05% | 2,921 |
3 | Approval of Directors' Remuneration Report | 212,883,589 | 96.71 | 7,246,669 | 3.29 | 220,130,258 | 79.05% | 16,116 |
4 | Election of N Connors | 217,811,214 | 98.94 | 2,326,580 | 1.06 | 220,137,794 | 79.05% | 8,580 |
5 | Election of C Gardell | 218,160,461 | 99.10 | 1,977,531 | 0.90 | 220,137,992 | 79.05% | 8,382 |
6 | Election of J Hewitt | 217,799,735 | 98.94 | 2,337,765 | 1.06 | 220,137,500 | 79.05% | 8,874 |
7 | Election of J Hinkley | 217,802,257 | 98.94 | 2,335,710 | 1.06 | 220,137,967 | 79.05% | 8,407 |
8 | Election of J McDonough | 216,794,794 | 99.48 | 1,134,615 | 0.52 | 217,929,409 | 78.26% | 2,216,965 |
9 | Election of C O'Shea | 219,370,452 | 99.65 | 767,475 | 0.35 | 220,137,927 | 79.05% | 8,447 |
10 | Election of F Wanecq | 219,368,675 | 99.65 | 769,285 | 0.35 | 220,137,960 | 79.05% | 8,414 |
11 | Re-appointment of Auditor | 215,298,811 | 98.79 | 2,635,121 | 1.21 | 217,933,932 | 78.26% | 2,212,442 |
12 | Remuneration of Auditor | 217,714,330 | 98.90 | 2,427,698 | 1.10 | 220,142,028 | 79.05% | 4,346 |
13 | Authority to Allot Shares | 210,595,665 | 95.67 | 9,540,660 | 4.33 | 220,136,325 | 79.05% | 10,049 |
14 | Special Resolution: Authority to Disapply Pre-emption Rights | 220,072,982 | 99.97 | 63,343 | 0.03 | 220,136,325 | 79.05% | 10,049 |
15 | Special Resolution: Authority to Purchase Own Shares | 220,125,462 | 99.99 | 17,054 | 0.01 | 220,142,516 | 79.05% | 3,858 |
16 | Authority to Incur Political Expenditure | 218,239,857 | 99.14 | 1,896,441 | 0.86 | 220,136,298 | 79.05% | 10,076 |
17 | Special Resolution: Authority to Call a General Meeting on 14 clear days' notice | 202,517,781 | 91.99 | 17,623,785 | 8.01 | 220,141,566 | 79.05% | 4,808 |
Vesuvius issued an Interim Management Statement on 17 May and on 3 June, it announced the completion of the sale of its Precious Metals Processing Division.
At today's AGM, the Chairman John McDonough said: "As previously announced, up to £30M of the disposal proceeds of €56.8m will be returned to shareholders through an on-market repurchase of shares, with the balance of the net disposal proceeds being used to reduce the Company's existing borrowings. This transaction is good news for the Precious Metals Processing businesses which are now part of a group wholly dedicated to that industry, and it is an important strategic step for Vesuvius, leaving us focused on our core competence of molten metal engineering, serving the global steel and foundry industries."
No further comments on trading were made at the meeting.
Notes:
1. Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.
2. The total number of shares in issue is 278,485,071
3. 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.
4. All percentages are shown to two decimal places.
This information will also shortly be available to view on the Company's website at: www.vesuvius.com.
In accordance with Listing Rule 9.6.2 a copy of Resolution 17 (Authority for the Company to call a general meeting on 14 clear days' notice) which was passed as special business at the AGM will be submitted to the Financial Conduct Authority National Storage Mechanism and will be available for inspection at www.hemscott.com/nsm.do. A copy of this resolution is also available from the Company Secretary, Vesuvius plc, 165 Fleet Street, London EC4A 2AE, England. In addition, copies of resolutions 13 to 15 and 17 will be filed with Companies House.
Vesuvius plc
165 Fleet Street
London EC4A 2AE
Tel: +44 (0) 20 7822 0000
Fax: +44 (0) 20 7822 0100
Web: www.vesuvius.com