19th Jul 2017 14:48
19 July 2107
RPC GROUP PLC
RESOLUTIONS PASSED AT 2017 ANNUAL GENERAL MEETING
Copies of the resolutions put to shareholders of RPC Group Plc ("Company") and passed by a vote on a show of hands by the required majority at the 2017 Annual General Meeting, have today been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.
Details of the number of proxy votes cast for, against and withheld for each resolution will shortly be available on the website www.rpc-group.com.
The Board notes that a notable minority of shareholders failed to support the vote for resolution 2 to approve the Remuneration Report. As in previous years, the Remuneration Committee carried out a full shareholder consultation process during the year and values the feedback provided by shareholders. Some shareholders remained concerned in respect of the second phase of the salary increases for the Executive Directors which were originally disclosed last year.
The Committee was comfortable that the implementation of the second phase of the increases was appropriate in the context of the performance of both the Group and the Executives during the year and the continued increase in the size and scope of the roles.
Other shareholders raised some concerns in respect of the performance measures used for incentive plans and the way in which performance against the targets was calculated. To further align with strategy the Committee will be carrying out a review of the performance measures and targets used under both the annual bonus and long-term incentive plans. This will include further emphasis on returns on capital and cash flow generation. The Committee will continue to consult with shareholders as part of this process.
The total number of shares in issue as at 17 July 2017 was 414,993,427. The total number of votes received at the close of business on 17 July 2017 was 296,042,195 representing 71% of the issued share capital.
Nick Giles
Company Secretary
RPC Group Plc
Tel: +44 (0) 1933 410 064
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Rpc Group