23rd Apr 2020 14:15
Date: 23 April 2020
Meggitt PLC
("the Company")
Result of AGM
The Board is pleased to announce that all resolutions (except resolution 4) proposed in the Notice of Meeting were put to the Annual General Meeting held earlier today and passed on a poll. As announced on 27 March 2020, the Board decided that it was prudent to withdraw the recommendation to pay the final dividend of 11.95 pence per share and accordingly this resolution was not put to the meeting. The poll results are shown below.
The total number of votes received for each resolution is set out in the voting schedule below. Each shareholder present in person or by proxy was entitled to one vote per share held. Votes withheld are not votes in law and therefore have not been counted in the calculation of the percentage of votes for or against a resolution. The percentages shown below are rounded to 2 decimal places.
Resolutions 17, 18, 20 and 21 were passed as special resolutions; all other resolutions were passed as ordinary resolutions.
Whilst all resolutions were passed with the requisite majority of votes, we acknowledge that a number of our shareholders did not support Resolution 16 (Authority to allot shares). It remains standard market practice for many UK FTSE listed companies to retain this type of authority. The authority sought by the Company is in accordance with the UK Investment Association's share capital management guidelines and prevailing voting guidelines of leading corporate governance agencies applicable to UK listed companies. However, we will continue our ongoing engagement with shareholders to better understand the position of those for which this authority presents concerns and will keep best practice in this area under review.
The total voting rights of the Company on 21 April 2020, the day on which shareholders had to be on the register in order to be eligible to vote, was 780,705,192.
VOTES FOR* | % | VOTES AGAINST | % | VOTES TOTAL | % Issued Share Capital** | VOTES WITHHELD | |
Annual report | 618,692,267 | 100.00 | 2,421 | 0.00 | 618,694,688 | 79.25 | 633,225 |
Remuneration Policy | 582,387,803 | 94.96 | 30,295,843 | 5.04 | 613,313,646 | 78.56 | 6,014,417 |
Remuneration Report | 580,686,499 | 94.65 | 32,817,185 | 5.35 | 613,503,684 | 78.58 | 5,824,350 |
Dividend | RESOLUTION WITHDRAWN | ||||||
Re-elect Sir Nigel Rudd | 523,320,504 | 85.38 | 89,624,788 | 14.62 | 612,945,292 | 78.51 | 6,376,762 |
Re-elect Antony Wood | 618,870,034 | 100.00 | 27,332 | 0.00 | 618,897,366 | 79.27 | 430,698 |
Re-elect Guy Berruyer | 596,122,155 | 96.32 | 22,768,989 | 3.68 | 618,891,144 | 79.27 | 436,921 |
Re-elect Louisa Burdett | 616,955,096 | 99.69 | 1,942,780 | 0.31 | 618,897,876 | 79.27 | 430,189 |
Re-elect Colin Day | 585,953,339 | 94.68 | 32,937,464 | 5.32 | 618,890,803 | 79.27 | 437,262 |
Re-elect Nancy Gioia | 617,679,825 | 99.80 | 1,221,677 | 0.20 | 618,901,502 | 79.27 | 426,563 |
Re-elect Alison Goligher | 591,963,449 | 95.74 | 26,319,733 | 4.26 | 618,283,182 | 79.20 | 1,044,883 |
Re-elect Guy Hachey | 617,680,381 | 99.80 | 1,216,106 | 0.20 | 618,896,487 | 79.27 | 431,578 |
Re-elect Caroline Silver | 544,383,734 | 87.96 | 74,514,665 | 12.04 | 618,898,399 | 79.27 | 429,666 |
Auditors' appointment | 611,257,932 | 98.76 | 7,687,925 | 1.24 | 618,945,857 | 79.28 | 382,206 |
Auditors' fees | 618,559,815 | 99.94 | 381,098 | 0.06 | 618,940,913 | 79.28 | 387,150 |
Allot shares | 497,529,143 | 80.38 | 121,416,273 | 19.62 | 618,945,416 | 79.28 | 382,648 |
Pre-emption rights (5%)*** | 618,842,981 | 99.99 | 86,905 | 0.01 | 618,929,886 | 79.28 | 398,169 |
Pre-emption rights (additional 5%)*** | 614,017,969 | 99.21 | 4,906,146 | 0.79 | 618,924,115 | 79.28 | 403,949 |
Political donations | 605,340,648 | 97.80 | 13,603,009 | 2.20 | 618,943,657 | 79.28 | 384,407 |
Share buy-back*** | 613,972,423 | 99.20 | 4,929,794 | 0.80 | 618,902,217 | 79.27 | 425,847 |
14 days' notice GMs*** | 592,622,229 | 95.74 | 26,342,988 | 4.26 | 618,965,217 | 79.28 | 362,847 |
*Includes discretionary votes
** Excluding the 9,859 shares held in treasury on 21 April 2020
*** Special resolution requiring 75% of votes in favour to be passed
Two copies of resolutions passed as special business at today's Annual General Meeting will, in accordance with Listing Rule 9.6.2, be submitted to the National Storage Mechanism as soon as practicable and will be available for inspection at www.morningstar.co.uk/uk/nsm.
Meggitt PLC
Marina Thomas, Group Company Secretary ([email protected])
Katie Lewis, Senior Assistant Company Secretary ([email protected])
Simon Grant, Assistant Company Secretary ([email protected])
Related Shares:
MGGT.L