27 Apr 2016 15:00
ELEMENTIS PLC - Result of AGMELEMENTIS PLC - Result of AGM
PR Newswire
London, April 27
Elementis plc – Result of 2016 AGM
The Company’s AGM was held today (27 April 2016) at the offices of UBS Investment Bank in London and all resolutions proposed were passed on a poll.
For information, the following table shows the poll results for the Meeting. The total number of shares in issue (ISC) as at 25 April 2016 was 463,166,347. (Total voting rights: 463,166,347). The percentage figure shown after columns 2 and 4 is the percentage of the total number of votes validly cast (under law) for each resolution (i.e. excludes votes withheld).
| Resolution | Votes For | % | Votes Against | % | Votes Total | % of ISC voted | Votes Withheld |
| 1. Receive annual report and accounts 2015 | 365,152,438 | 100.00 | 1,313 | 0.00 | 365,153,751 | 78.83 | 2,503,656 |
| 2. Final dividend | 366,710,973 | 100.00 | 1,349 | 0.00 | 366,712,322 | 79.17 | 948,085 |
| 3. Directors' remuneration report 2015 (excluding Remuneration policy) | 287,022,138 | 78.37 | 79,194,588 | 21.63 | 366,216,726 | 79.06 | 1,405,108 |
| 4. To elect Paul Waterman | 366,154,947 | 99.86 | 497,438 | 0.14 | 366,652,385 | 79.16 | 968,980 |
| 5. To re-elect Andrew Duff | 360,838,400 | 98.41 | 5,817,597 | 1.59 | 366,655,997 | 79.16 | 997,359 |
| 6. To re-elect Brian Taylorson | 366,187,365 | 99.86 | 506,427 | 0.14 | 366,693,792 | 79.17 | 966,615 |
| 7. To re-elect Nick Salmon | 366,149,890 | 99.86 | 505,805 | 0.14 | 366,655,695 | 79.16 | 966,140 |
| 8. To re-elect Andrew Christie | 363,915,924 | 99.25 | 2,742,836 | 0.75 | 366,658,760 | 79.16 | 964,076 |
| 9. To re-elect Steve Good | 366,153,011 | 99.86 | 503,554 | 0.14 | 366,656,565 | 79.16 | 965,270 |
| 10, To re-elect Anne Hyland | 365,439,852 | 99.68 | 1,181,718 | 0.32 | 366,621,570 | 79.15 | 962,693 |
| 11. Appoint Deloitte LLP as Auditors | 366,091,116 | 99.85 | 558,833 | 0.15 | 366,649,949 | 79.16 | 971,886 |
| 12. Auditors' remuneration | 365,875,290 | 99.78 | 789,248 | 0.22 | 366,664,538 | 79.16 | 957,297 |
| 13. Special dividend | 366,671,353 | 100.00 | 2,219 | 0.00 | 366,673,572 | 79.16 | 948,263 |
| 14. Authority to allot shares | 339,398,018 | 92.57 | 27,233,002 | 7.43 | 366,631,020 | 79.15 | 990,815 |
| 15. Authorise political donations | 365,129,578 | 99.59 | 1,503,629 | 0.41 | 366,633,207 | 79.15 | 1,028,200 |
| 16. Hold general meetings at 14 clear days' notice* | 328,291,378 | 89.56 | 38,280,932 | 10.44 | 366,572,310 | 79.14 | 1,050,524 |
| 17. Disapply pre-emption rights* | 334,912,720 | 96.18 | 13,313,599 | 3.82 | 348,226,319 | 75.18 | 19,435,088 |
| 18. Authority to purchase own shares* | 363,294,045 | 99.08 | 3,363,458 | 0.92 | 366,657,503 | 79.16 | 964,332 |
* Resolutions 16 to 18 were passed as special resolutions.
The Board considers that the percentage of votes cast against or withheld in respect of resolution number 3 (to approve the remuneration report, as shown in the above table) to be significant. The Company has written to major shareholders, representing more than two-thirds of its voting capital, to address the main concerns raised. A number of shareholders accepted an offer to meet with the Chairman or Chairman of the Remuneration Committee. The reasons for the result of the vote on resolution number 3 are understood and the Company will reflect on these concerns in future years.
In accordance with Listing Rule 9.6, copies of the resolutions, designated as being special business, passed at the AGM will be submitted to the National Storage Mechanism and will be available shortly for inspection at: www.morningstar.co.uk/uk/NSM
These voting results and the Notice of meeting will also be available on the Company’s website at www.elementisplc.com/investors/agm-information later this afternoon.
Wai WongCompany Secretary0207 067 2999
Elementis (ELM)