16th Jul 2020 12:30
Biffa plc
Results of the Annual General Meeting
Biffa plc, ("the Company") announces that at its Annual General Meeting ("AGM") today, all resolutions proposed, except resolutions 14 and 15 which are special resolutions, were duly passed by shareholders by the majority required on a poll. The full text of each resolution is contained in the 2020 Notice of AGM which is available on the Biffa website www.biffa.co.uk
Biffa AGM Poll Results
The following table shows the total number of votes cast for each resolution:
Resolution | Total No' and % of Votes cast FOR* | Total No' and % of Votes cast AGAINST | Total Number of Votes Cast | Number of Votes WITHHELD+ | |||
1 | Annual Report and Accounts 2020 | 220,748,631 | 98.59 | 3,168,360 | 1.41 | 223,916,991 | 3,224,317 |
2 | Remuneration Policy | 212,372,302 | 96.97 | 6,639,109 | 3.03 | 219,011,411 | 8,129,897 |
3 | Remuneration Report | 213,108,702 | 98.87 | 2,429,168 | 1.13 | 215,537,870 | 11,603,593 |
4 | Re-election of M Averill | 216,362,488 | 98.79 | 2,657,342 | 1.21 | 219,019,830 | 8,121,479 |
5 | Re-election of G Barbaro | 221,596,955 | 98.81 | 2,666,749 | 1.19 | 224,263,704 | 2,877,605 |
6 | Re-election of C Chesney
| 200,002,174 | 89.18 | 24,261,375 | 10.82 | 224,263,549 | 2,877,760 |
7 | Re-election of K Lever | 146,123,367 | 66.86 | 72,419,720 | 33.14 | 218,543,087 | 8,598,222 |
8 | Re-election of D Martin | 221,606,610 | 98.82 | 2,657,084 | 1.18 | 224,263,694 | 2,877,615 |
9 | Re-election of R Pike | 222,761,231 | 99.33 | 1,502,473 | 0.67 | 224,263,704 | 2,877,605 |
10 | Re-election of M Topham | 224,008,811 | 99.89 | 255,668 | 0.11 | 224,264,479 | 2,876,985 |
11 | Appointment of Auditor | 224,257,342 | 100.00 | 2,930 | 0.00 | 224,260,272 | 2,881,037 |
12 | Remuneration of Auditor | 224,259,020 | 100.00 | 3,943 | 0.00 | 224,262,963 | 2,878,346 |
13 | Allotment of shares | 151,888,064 | 67.11 | 74,450,547 | 32.89 | 226,338,611 | 802,852 |
14 | Pre-emption rights - General^ | 147,338,785 | 65.10 | 78,999,623 | 34.90 | 226,338,408 | 802,900 |
15 | Pre-emption rights - Specific^ | 143,832,405 | 63.55 | 82,502,771 | 36.45 | 226,335,176 | 806,133 |
16 | Notice of general meetings^ | 218,625,548 | 97.49 | 5,634,135 | 2.51 | 224,259,683 | 2,881,626 |
Notes:
* includes discretionary votes
^ special resolution
'+ a vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes counted 'For' or 'Against' a resolution
The total number of shares in issue at the close of business on 15 July 2020 was 303,000,000 ordinary shares of 1 pence each. There are no shares held in Treasury.
The Board would like to thank shareholders for their engagement and support ahead of the AGM and throughout the year. While most of the resolutions were passed with significant majorities, the Board notes that resolutions 7 (re-election of K Lever) and 13 (allotment of shares) were passed with the necessary majority but with less than 80% of support and that resolutions 14 (pre-emption rights - general) and 15 (pre-emption rights - specific), which were special resolutions requiring a 75% majority, did not receive sufficient support to be passed.
In accordance with provision 4 of the 2018 UK Corporate Governance Code (the "Code"), the Board confirms that it will consult and engage with shareholders to understand and discuss their concerns with respect to those resolutions. An update will be provided within six months of the AGM, in accordance with the Code.
These results will shortly be available on the Company's website at www.biffa.co.uk and in accordance with Listing Rule 9.6.2, copies of the resolutions that were passed at the meeting and that do not constitute ordinary business at an annual general meeting will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.data.fca.org.uk
S Parsons
Company Secretary
16 July 2020
Enquiries:
Investors
Michael Topham, Chief Executive Officer
Richard Pike, Chief Financial Officer
Media & Analysts
Houston PR
Registered in England and Wales:
10336040
Registered office at:
Coronation Road,
Cressex,
High Wycombe,
Buckinghamshire
HP12 3TZ
Related Shares:
BIFF.L