8th May 2015 15:35
8 May 2015
BBA Aviation plc - Results of Annual General Meeting
BBA Aviation plc announces that all resolutions proposed at its Annual General Meeting held earlier today were duly passed by poll vote. The results of the poll are set out below:
Resolution | For (including discretionary votes) | % | Against | % | Withheld | |
Ordinary Resolutions | ||||||
1 | To receive and adopt the 2014 Report and Accounts | 393,608,106 | 100.00 | 4,061 | 0.00 | 418,839 |
2 | To declare a final dividend | 393,630,412 | 100.00 | 3,942 | 0.00 | 396,652 |
3 | To elect Mike Powell as a director | 392,928,228 | 99.82 | 703,543 | 0.18 | 399,235 |
4 | To re-elect Sir Nigel Rudd as a director | 390,430,355 | 99.24 | 2,972,409 | 0.76 | 628,242 |
5 | To re-elect Wayne Edmunds as a director | 392,823,696 | 99.79 | 808,568 | 0.21 | 398,742 |
6 | To re-elect Susan Kilsby as a director | 392,820,885 | 99.79 | 810,886 | 0.21 | 399,235 |
7 | To re-elect Nick Land as a director | 391,850,579 | 99.55 | 1,782,185 | 0.45 | 398,242 |
8 | To re-elect Simon Pryce as a director | 393,128,839 | 99.87 | 503,925 | 0.13 | 398,242 |
9 | To re-elect Peter Ratcliffe as a director | 392,838,466 | 99.80 | 792,559 | 0.20 | 399,981 |
10 | To re-appoint Deloitte LLP as auditors | 390,826,455 | 99.29 | 2,791,548 | 0.71 | 413,003 |
11 | To authorise the directors to determine the auditors' remuneration | 393,604,758 | 100.00 | 17,639 | 0.00 | 408,609 |
12 | To approve the Directors' Remuneration Report | 203,602,175 | 60.37 | 133,671,250 | 39.63 | 56,757,581 |
13 | To approve the Directors' Remuneration Policy | 380,802,264 | 96.77 | 12,715,398 | 3.23 | 513,344 |
14 | To approve the Deferred Stock Plan | 381,009,978 | 99.49 | 1,966,665 | 0.51 | 11,054,363 |
15 | To approve the Long-Term Incentive Plan | 372,180,698 | 96.71 | 12,676,395 | 3.29 | 9,173,913 |
16 | To approve the Executive Share Option Plan | 381,453,233 | 99.58 | 1,623,146 | 0.42 | 10,954,627 |
17 | To grant the directors authority to allot relevant securities | 357,926,922 | 93.13 | 26,399,018 | 6.87 | 9,705,066 |
Special Resolutions | ||||||
18 | To approve the disapplication of pre-emption rights | 375,494,982 | 97.70 | 8,840,469 | 2.30 | 9,695,555 |
19 | To authorise the Company to make market purchases of ordinary shares | 384,331,829 | 99.83 | 650,808 | 0.17 | 9,048,369 |
20 | To approve notice period for certain general meetings | 336,382,307 | 85.46 | 57,241,765 | 14.54 | 406,934 |
An abstention or withheld vote is not a vote in law and is not counted in the calculation of proportion of votes "For" or "Against" a resolution.
As at 8 May 2015, there were 482,161,341 ordinary shares in issue with 13,604,808 shares held in treasury. The total number of voting rights in BBA Aviation plc was 468,555,533.
The Board is disappointed to note that whilst the resolution to approve the Directors' Remuneration Report was passed with the requisite majority, there were a significant number of votes opposing the resolution and a significant number of votes withheld. We have already engaged with certain shareholders to discuss their concerns relating to our Remuneration Report and we will continue to take appropriate steps through our ongoing contact with shareholders to ensure that we fully understand their concerns.
In accordance with Listing Rules 9.6.2R and 9.6.3R, a copy of the resolutions other than resolutions concerning ordinary business has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm.
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