4th May 2017 14:40
LADBROKES CORAL GROUP PLC
Result of Annual General Meeting
Ladbrokes Coral Group plc (the "Company") announces that the following resolutions were duly passed at the Company's Annual General Meeting which was held on 4 May 2017 at Etc.venues St. Paul's, 200 Aldersgate, London EC1A 4HD. The results of the poll are as follows:
Resolution | Total For | Total Against | Votes Withheld(1) | |||
No. of votes | % of votes | No. of votes | % of votes | No. of votes | ||
1. | To receive and adopt the report and accounts 2016 | 1,144,060,530 | 99.21 | 9,060,089 | 0.79 | 3,413,392 |
2. | To approve the Directors' remuneration report | 868,839,589 | 75.16 | 287,094,818 | 24.84 | 602,622 |
3. | To approve the Directors' remuneration policy | 1,105,593,903 | 95.91 | 47,092,427 | 4.09 | 3,850,609 |
4. | To declare a final dividend
| 1,146,653,665 | 99.22 | 9,037,260 | 0.78 | 858,589 |
5. | To appoint Paul Bowtell as a director | 1,154,684,507 | 99.92 | 958,448 | 0.08 | 909,473 |
6. | To appoint Mark Clare as a director | 1,151,280,676 | 99.62 | 4,360,204 | 0.38 | 911,548 |
7. | To appoint Annemarie Durbin as a director | 1,136,141,149 | 98.31 | 19,506,229 | 1.69 | 904,396 |
8. | To appoint Carl Leaver as a director | 1,154,673,759 | 99.92 | 954,366 | 0.08 | 924,303 |
9. | To appoint Stevie Spring as a director | 1,153,074,591 | 99.78 | 2,565,524 | 0.22 | 906,013 |
10. | To appoint Rob Templeman as a director | 1,154,870,044 | 99.93 | 768,034 | 0.07 | 914,350 |
11. | To re-appoint John Kelly as a director | 1,121,984,743 | 97.09 | 33,655,337 | 2.91 | 911,580 |
12. | To re-appoint Jim Mullen as a director | 1,154,669,809 | 99.92 | 968,274 | 0.08 | 914,345 |
13. | To re-appoint Mark Pain as a director | 1,133,117,331 | 98.05 | 22,524,603 | 1.95 | 907,494 |
14. | To re-appoint PricewaterhouseCoopers LLP as auditor | 1,137,109,922 | 98.40 | 18,535,750 | 1.60 | 902,976 |
15. | To authorise the directors to agree the auditor's remuneration | 1,140,467,269 | 98.68 | 15,197,807 | 1.32 | 887,123 |
16. | To authorise political donations and expenditure | 1,141,068,573 | 98.74 | 14,528,253 | 1.26 | 952,464 |
17. | To approve amendments to the Performance Share Plan | 1,105,488,985 | 95.91 | 47,156,317 | 4.09 | 3,856,854 |
18. | To authorise the Board to establish plans or schedules to extend the SAYE Plan and/or the OWN Plan to overseas jurisdictions | 1,154,660,673 | 99.93 | 855,013 | 0.07 | 1,036,108 |
19. | To authorise the directors to allot shares | 1,069,008,782 | 92.51 | 86,610,271 | 7.49 | 932,529 |
20. | To disapply pre-emption rights | 1,136,920,129 | 98.39 | 18,661,974 | 1.61 | 969,747 |
21. | To disapply pre-emption rights - limited to an acquisition or specified capital investment | 1,039,391,498 | 89.95 | 116,189,847 | 10.05 | 971,052 |
22. | To authorise the Company to purchase its own shares | 1,152,072,918 | 99.73 | 3,088,107 | 0.27 | 1,391,372 |
23. | To authorise the calling of general meetings (excluding annual general meetings) by notice of at least 14 clear days | 1,137,171,186 | 98.40 | 18,473,048 | 1.60 | 901,766 |
(1) A 'vote withheld' is not a vote in law and is not counted in the calculation of votes 'For' or 'Against' a resolution.
The Company notes that more than 20% of votes cast were against the Directors' Remuneration report and have been advised by some shareholders that this vote against was in respect of the salary increase of Jim Mullen, the Chief Executive Officer, at the time of the merger with Gala Coral, which was undertaken to bring his salary in ratio to the salaries of other executives joining the Board as a result of the merger. This was widely briefed to major shareholders ahead of the increase, with only one major shareholder expressing concern and that was about phasing of the award rather than quantum. Jim Mullen has not received an increase in his salary in the current year.
The Chairman and the Chair of the Remuneration Committee will seek to meet with any significant shareholders who voted against the report to further identify any other issues that arose.
As at 4 May 2017, the issued share capital of the Company was 1,914,605,919 ordinary shares of 28⅓ pence each (excluding shares held in treasury).
In accordance with Listing Rule 9.6.2, copies of the resolutions passed as special business will be submitted to the National Storage Mechanism and will be available for viewing at www.Hemscott.com/nsm.do.
The results will also be made available on the Company's website at www.ladbrokescoralplc.com/agm.
Geoff Mason
Company Secretary
Related Shares:
Ladbrokes Coral