14 May 2015 17:39
AGM Results
Balfour Beatty plc (the "Company") announces that, at its Annual General Meeting ("AGM") held earlier today, the resolutions set out in the Notice of AGM dated 14 April 2015 were passed following a poll on each resolution.
The results of the polls were as follows:
For | Against | Votes Withheld | |
Resolution 1: To adopt the Directors' Report and Accounts for the year ended 31 December 2014
| 492,027,435 (99.93%) | 336,078 (0.07%) | 7,977,260
|
Resolution 2: To approve the Directors' Remuneration Report for the year ended 31 December 2014
| 326,935,338 (68.03%) | 153,641,260 (31.97%) | 19,764,175
|
Resolution 3: To elect Mr P S Aiken AM as a Director
| 491,723,287 (98.45%) | 7,739,172 (1.55%) | 878,314
|
Resolution 4: To re-elect Mr R M Amen as a Director
| 492,056,363 (98.46%) | 7,682,033 (1.54%) | 602,138
|
Resolution 5: To elect Mr S J Doughty CMG as a Director
| 496,858,753 (99.43%) | 2,869,248 (0.57%) | 612,533
|
Resolution 6: To re-elect Mr I G T Ferguson CBE as a Director
| 491,216,250 (98.30%) | 8,517,729 (1.70%) | 606,555
|
Resolution 7: To re-elect Mrs V M Kempston Darkes as a Director
| 495,411,465 (99.13%) | 4,327,931 (0.87%) | 601,180
|
Resolution 8: To elect Mr L M Quinn as a Director
| 487,637,129 (97.58%) | 12,114,031 (2.42%) | 587,471
|
Resolution 9: To re-elect Mr G C Roberts as a Director
| 491,487,761 (98.35%) | 8,247,006 (1.65%) | 605,767
|
Resolution 10: To reappoint Deloitte LLP as auditor
| 468,913,236 (99.02%) | 4,621,623 (0.98%) | 26,804,176
|
Resolution 11: To authorise the Directors to determine the remuneration of the auditor
| 471,672,143 (98.92%) | 5,152,972 (1.08%) | 23,515,419
|
Resolution 12: To authorise the Company and its UK subsidiaries to incur political expenditure
| 491,538,820 (98.37%) | 8,161,440 (1.63%) | 640,274
|
Resolution 13: To authorise the Directors to allot shares
| 494,284,582 (98.91%) | 5,460,465 (1.09%) | 595,487
|
Resolution 14: To authorise the Directors to allot shares for cash*
| 499,188,791 (99.89%) | 554,542 (0.11%) | 596,201
|
Resolution 15: To renew the authority for the Company to purchase its own ordinary and preference shares*
| 499,318,983 (99.92%) | 415,736 (0.08%) | 605,815
|
Resolution 16: To authorise the Company to hold on 14 clear days' notice*
| 465,976,950 (93.28%) | 33,546,717 (6.72%) | 816,867
|
* Special resolution
The Company notes the significant number of votes cast against Resolution 2, the advisory vote on the Directors' Remuneration Report. As shareholders are aware, 2014 was a challenging year for the Company and the Remuneration Committee had to deal with a number of non-standard issues. The Board takes its responsibility to engage with investors seriously and, therefore, will conduct a thorough assessment of the feedback received.
Notes:
1 The percentages above are rounded to two decimal places.
2 A vote withheld is not a vote in law and is not counted in the calculation of votes "For" and "Against" a resolution.
3 The total number of Ordinary Shares of 50p each in the Company in issue at 6.00 pm on 12 May 2015 was 689,509,381, each carrying one vote.
4 Resolutions 14 to 16 were each passed as Special Resolutions.
In accordance with Listing Rule 9.6.2R, copies of each of Resolutions 12 to 16 will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
14 May 2015
Balfour Beatty (BBY)