25th Apr 2019 14:31
Date: 25 April 2019
Meggitt PLC
("the Company")
Result of AGM
A poll was held on each of the resolutions proposed at the Annual General Meeting held earlier today. All resolutions were passed and the results are as follows:
VOTES FOR | % | VOTES AGAINST | % | VOTES TOTAL | % of AVAILABLE VOTING RIGHTS* | VOTES WITHHELD | |
Annual report | 614,491,579 | 99.99 | 1,556 | 0.01 | 614,493,135 | 79.09 | 684,093 |
Remuneration Report | 566,152,657 | 93.25 | 40,976,841 | 6.75 | 607,129,498 | 78.14 | 8,047,728 |
Dividend | 614,625,545 | 99.97 | 197,231 | 0.03 | 614,822,776 | 79.13 | 354,452 |
Re-elect Sir Nigel Rudd** | 376,057,588 | 72.56 | 142,245,993 | 27.44 | 518,303,581 | 66.71 | 96,873,645 |
Re-elect Tony Wood | 612,372,390 | 99.61 | 2,381,194 | 0.39 | 614,753,584 | 79.13 | 423,644 |
Re-elect Guy Berruyer | 574,179,014 | 93.40 | 40,571,138 | 6.60 | 614,750,152 | 79.13 | 425,477 |
Re-elect Colin Day | 574,181,719 | 93.40 | 40,570,983 | 6.60 | 614,752,702 | 79.13 | 424,526 |
Re-elect Nancy Gioia | 574,188,083 | 93.40 | 40,564,747 | 6.60 | 614,752,830 | 79.13 | 424,398 |
Re-elect Alison Goligher | 550,858,117 | 89.64 | 63,656,931 | 10.36 | 614,515,048 | 79.09 | 662,179 |
Re-elect Philip Green | 574,719,203 | 93.49 | 40,033,549 | 6.51 | 614,752,752 | 79.13 | 424,476 |
Elect Louisa Burdett | 569,257,852 | 92.60 | 45,493,518 | 7.40 | 614,751,370 | 79.13 | 425,858 |
Elect Guy Hachey | 577,151,928 | 93.88 | 37,596,208 | 6.12 | 614,748,136 | 79.12 | 429,092 |
Elect Caroline Silver | 577,137,195 | 93.88 | 37,609,746 | 6.12 | 614,746,941 | 79.12 | 430,287 |
Auditors' appointment | 603,489,820 | 98.16 | 11,286,853 | 1.84 | 614,776,673 | 79.13 | 400,554 |
Auditors' fees | 614,399,666 | 99.93 | 405,060 | 0.07 | 614,804,726 | 79.13 | 372,492 |
Allot shares | 576,546,064 | 93.78 | 38,264,210 | 6.22 | 614,810,274 | 79.13 | 366,954 |
Pre-emption rights (5%)*** | 576,998,476 | 93.85 | 37,783,800 | 6.15 | 614,782,276 | 79.13 | 391,415 |
Pre-emption rights (additional 5%)*** | 545,532,395 | 88.74 | 69,241,574 | 11.26 | 614,773,969 | 79.13 | 399,721 |
Political donations | 607,766,327 | 99.27 | 4,462,264 | 0.73 | 612,228,591 | 78.80 | 2,948,637 |
Share buy-back*** | 609,196,685 | 99.13 | 5,363,470 | 0.87 | 614,560,155 | 79.10 | 656,928 |
14 days' notice GMs*** | 577,824,051 | 94.38 | 34,428,059 | 5.62 | 612,252,110 | 78.80 | 2,925,118 |
Approve and adopt new articles*** | 612,223,063 | 99.99 | 25,197 | 0.01 | 612,248,260 | 78.80 | 2,928,968 |
* The number of available voting rights is 776,934,226
** The Board notes the outcome of the shareholder vote on Resolution 4 concerning the re-election of the Chairman, Sir Nigel Rudd, with 73% of shareholders voting for his re-election (compared to 68% in 2018).
Prior to the AGM, ISS proxy advisors recommended that shareholders abstain from voting on this resolution (compared to their 'against' recommendation in 2018 over concerns regarding perceived 'overboarding') in recognition of the reduction in Sir Nigel's competing time commitments following his retirement from the Board of Destiny Pharma in September 2018.
The company has sought to engage with all of our major shareholders over the last few months on this topic. The Board has reviewed Sir Nigel's time commitments, concluding that Sir Nigel has sufficient capacity to dedicate the appropriate amount of time to Meggitt. This was evident to the Board most recently during the seamless transition of Chief Executive in 2018, in which Sir Nigel played a critical role. Many of our major shareholders share the Board's view that Sir Nigel continues to provide excellent leadership of the Board and his skill set, experience and knowledge remain of significant value to the Board.
The Board will continue to engage with shareholders on this subject going forward.
*** Special resolution
The number of shares in issue at the date of this announcement is 776,947,805 which include 9,859 treasury shares.
A copy of the 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.
Enquiries:
Meggitt PLC +44(0)1202 597597
Marina Thomas, Group Company Secretary
Adrian Bunn, VP Strategy & Investor Relations
Related Shares:
MGGT.L