24th Sep 2015 14:10
Vectura Group plc
Results of the Annual General Meeting held on 24 September 2015 at the offices of Covington & Burling LLP, 265 Strand, London WC2R 1BH.
Chippenham, UK, 24 September 2015: Vectura Group plc (LSE: VEC; "Vectura" or "the Company"), announces that all resolutions proposed to shareholders at its Annual General Meeting held today were duly passed on a poll, the results of which are set out below:
Resolution | Votes for | % of votes cast | Votes against | % of votes cast | Votes withheld* | |
1 | To receive the Annual Report & Accounts to 31 March 2015 | 327,252,289
| 99.97
| 85,876
| 0.03
| 55,410
|
2 | To approve the Directors' Remuneration Report | 196,352,212
| 63.13
| 114,686,619
| 36.87
| 11,682,386
|
3 | To elect Andrew Oakley as a Director | 319,767,882
| 99.76
| 767,667
| 0.24
| 6,856,526
|
4 | To elect Dr Per-Olof Andersson as a Director | 327,124,133
| 100.00
| 369
| 0.00
| 267,573
|
5 | To re-elect Bruno Angelici as a Director | 320,688,701
| 98.03
| 6,437,318
| 1.97
| 267,556
|
6 | To re-elect Dr Trevor Phillips as a Director | 326,950,671
| 99.87
| 441,962
| 0.13
| 942
|
7 | To re-elect Dr John Brown as a Director | 307,136,136
| 94.41
| 18,180,966
| 5.59
| 2,076,473
|
8 | To re-elect Dr Susan Foden as a Director | 319,868,554
| 99.28
| 2,309,043
| 0.72
| 5,215,978
|
9 | To re-elect Neil Warner as a Director | 326,165,311
| 99.71
| 960,708
| 0.29
| 267,556
|
10 | To re-appoint Deloitte LLP as Auditor | 321,096,578
| 98.08
| 6,296,997
| 1.92
| 0
|
11 | To authorise the Directors to set the remuneration of the Auditor | 327,179,346
| 99.93
| 213,995
| 0.07
| 234
|
12 | To grant the Directors authority to allot shares | 326,864,621
| 99.84
| 516,524
| 0.16
| 12,430
|
13 | To grant the Directors authority to disapply pre-emption rights | 300,409,890
| 91.76
| 26,965,094
| 8.24
| 18,591
|
14 | To authorise the calling of General Meetings on 14 days' notice | 322,285,154
| 98.44
| 5,100,908
| 1.56
| 7,512
|
*NB: The percentage of votes cast for and against excludes withheld votes.
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. Whilst most shareholders were comfortable with the decisions made, some were not comfortable with the decision to fulfil the commitment to Chris Blackwell to increase his salary. We will continue to take appropriate steps through our on-going contact with shareholders to ensure that we fully understand their concerns.
The Company confirms that copies of all resolutions proposed at the Annual General Meeting held earlier today, 24 September 2015, will be submitted to the National Storage Mechanism (NSM) at [email protected] and will shortly be available for viewing.
- Ends -
Enquiries:
Vectura Group plc
Andrew J Oakley
Chief Financial Officer and Company Secretary
One Prospect West
Chippenham
Wiltshire
SN14 6FH
Tel: +44 (0)1249 667700
www.vectura.com
Notes for Editors:
About Vectura
Vectura is a product development company that focuses on the development of pharmaceutical therapies for the treatment of airways-related diseases (airways diseases). This growing market includes asthma and chronic obstructive pulmonary disease (COPD) and is estimated to be worth $44 billion worldwide.
Vectura now has eight products marketed by partners with growing global royalty streams and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura currently has disclosed development collaborations and licence agreements with several global pharmaceutical and biotechnology companies, including Novartis, Sandoz, Baxter, GlaxoSmithKline, UCB, Ablynx, Grifols, Janssen Biotech and Tianjin KingYork Group Company.
Vectura develops products for airways diseases and owns formulation and inhalation technologies that are available to other pharmaceutical companies on an out-licensing basis where this complements Vectura's business strategy.
For further information, please visit Vectura's website at www.vectura.com.
[1] Decision Resources 2014 |
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