13th Apr 2017 13:32
13 April 2017
Drax Group plc
(Symbol: DRX)
Poll Results of the Annual General Meeting
Drax Group plc announces the results of the voting by poll on the resolutions put to its Annual General Meeting held today, Thursday 13 April 2017.
No.
| Brief Description | Votes For | % | Votes Against | % | Votes Total | Votes Withheld |
1 | To receive and adopt the Annual report and the audited accounts | 357,749,650 | 99,99 | 19,795 | 0.01 | 357,769,445 | 2,025,361 |
2 | To approve the Directors' Remuneration Policy | 275,998,273 | 77.03 | 82,299,718 | 22.97 | 358,297,991 | 1,496,815 |
3 | To approve the Annual statement to shareholders by the Chairman of the Remuneration Committee and the Annual report on remuneration | 234,597,094 | 66.35 | 118,991,937 | 33.65 | 353,589,031 | 6,205,774 |
4 | To declare the final dividend of 0.4 pence per share | 359,778,695 | 100.00 | 13,393 | 0.00 | 359,792,088 | 2,718 |
5 | To re-elect Tim Cobbold as a director of the Company | 347,036,611 | 96.46 | 12,749,646 | 3.54 | 359,786,257 | 8,549 |
6 | To re-elect Philip Cox as a director of the Company | 341,608,921 | 96.12 | 13,807,914 | 3.88 | 355,416,835 | 4,377,971 |
7 | To re-elect Will Gardiner as a director of the Company | 359,036,120 | 99.79 | 748,987 | 0.21 | 359,785,107 | 9,699 |
8 | To re-elect Andy Koss as a director of the Company | 359,315,277 | 99.87 | 470,980 | 0.13 | 359,786,257 | 8,549 |
9 | To re-elect David Lindsell as a director of the Company | 346,354,049 | 96.27 | 13,431,499 | 3.73 | 359,785,548 | 9,258 |
10 | To re-elect Dorothy Thompson as a director of the Company | 359,314,854 | 99.87 | 471,921 | 0.13 | 359,786,775 | 8,031 |
11 | To re-elect Tony Thorne as a director of the Company | 347,045,202 | 96.46 | 12,739,905 | 3.54 | 359,785,107 | 9,699 |
12 | To re-appoint Deloitte LLP as auditor | 352,594,144 | 98.00 | 7,197,780 | 2.00 | 359,791,924 | 2,882 |
13 | Authority to determine auditor's remuneration | 358,788,281 | 99.72 | 1,003,375 | 0.28 | 359,791,656 | 3,150 |
14 | Authority to make EU political donations to a specified limit | 358,444,925 | 99.63 | 1,345,563 | 0.37 | 359,790,488 | 4,318 |
15 | Authority to allot shares | 358,925,745 | 99.76 | 860,697 | 0.24 | 359,786,442 | 8,364 |
16 | Authority to make non pre-emptive share allotments | 359,746,966 | 99.99 | 38,440 | 0.01 | 359,785,406 | 9,400 |
17 | Authority to purchase own shares | 354,195,152 | 98.46 | 5,539,890 | 1.54 | 359,735,042 | 59,764 |
18 | To approve the Drax Group plc Performance Share Plan (PSP) | 341,470,736 | 94.91 | 18,318,717 | 5.09 | 359,789,453 | 5,353 |
19 | To approve the Drax Group plc Deferred Share Plan (DSP) | 345,479,185 | 96.02 | 14,305,768 | 3.98 | 359,784,953 | 9,853 |
20 | Authority to call a General Meeting on not less than 14 days' notice | 352,796,143 | 98.05 | 6,998,462 | 1.95 | 359,794,605 | 200 |
Resolutions 1 to 20 were carried.
The Board of Directors notes the significant number of votes against the 2016 Directors' Remuneration Report and the Remuneration Policy resolutions. The Remuneration Committee consulted on the Remuneration Policy with a majority of the holders of the issued share capital, most of which were supportive of the approach taken in what was a key year for the Company and in which significant milestones in the delivery of our future strategy were met. Discussions have already taken place with a number of institutional shareholders who did not support the Remuneration Report or Remuneration Policy resolutions. The feedback received will be discussed by the Remuneration Committee in forthcoming meetings and further engagement is expected with shareholders as part of an ongoing programme.
The number of shares in issue is 406,851,207.
David McCallum
Company Secretary
Drax Group plc
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Drax