8th May 2015 07:00
LADBROKES PLC
Result of Annual General Meeting
Ladbrokes plc (the "Company") announces that the following resolutions were duly passed at the Company's Annual General Meeting which was held today at Deutsche Bank AG. The results of the poll are as follows:
Resolution | Total For | Total Against | Votes Withheld(1) | |||
No. of votes | % of votes | No. of votes | % of votes | No. of votes | ||
1. | To receive and adopt the report and accounts for 2014. | 607,285,836 | 99.98 | 146,346 | 0.02 | 66,566 |
2. | To declare a final dividend.
| 607,428,102 | 99.99 | 56,191 | 0.01 | 11,056 |
3. | To re-appoint P Erskine as a director. | 606,584,963 | 99.87 | 816,907 | 0.13 | 93,556 |
4. | To re-appoint I A Bull as a director. | 607,158,261 | 99.96 | 233,233 | 0.04 | 103,932 |
5. | To re-appoint S Bailey as a director. | 606,934,441 | 99.93 | 455,121 | 0.07 | 105,095 |
6. | To re-appoint C M Hodgson as a director. | 606,216,124 | 99.81 | 1,180,396 | 0.19 | 98,906 |
7. | To re-appoint J M Kelly as a director. | 606,231,259 | 99.81 | 1,167,414 | 0.19 | 102,237 |
8. | To re-appoint D R Martin as a director. | 607,140,588 | 99.96 | 251,439 | 0.04 | 103,399 |
9. | To re-appoint R Moross as a director. | 607,101,311 | 99.95 | 292,156 | 0.05 | 101,959 |
10. | To re-appoint D M Shapland as a director. | 603,912,064 | 99.43 | 3,478,357 | 0.57 | 103,248 |
11. | To re-appoint PricewaterhouseCoopers LLP as auditor. | 599,394,561 | 98.73 | 7,689,148 | 1.27 | 411,466 |
12. | To authorise the directors to agree the auditor's remuneration. | 604,768,202 | 99.62 | 2,300,791 | 0.38 | 424,363 |
13. | To approve the remuneration report. | 365,015,508 | 69.77 | 158,156,158 | 30.23 | 84,319,464 |
14. | To authorise political donations and expenditure. | 579,075,848 | 95.87 | 24,941,043 | 4.13 | 3,443,369 |
15. | To authorise the Company to purchase its own shares. | 585,001,355 | 96.83 | 19,149,068 | 3.17 | 3,342,661 |
16. | To authorise the directors to allot shares. | 549,695,474 | 91.00 | 54,335,350 | 9.00 | 3,464,341 |
17. | To disapply pre-emption rights. | 598,546,577 | 99.10 | 5,423,406 | 0.90 | 3,525,582 |
18. | To authorise the calling of general meetings (excluding annual general meetings) by notice of at least 14 clear days. | 590,319,340 | 97.18 | 17,124,836 | 2.82 | 51,250 |
(1) A 'vote withheld' is not a vote in law and is not counted in the calculation of votes 'For' or 'Against' a resolution.
The Board notes the vote in respect of the Directors Remuneration Report. Ladbrokes has spoken with several shareholders about the termination arrangements for Richard Glynn where his contract required that any settlement had to be determined in line with UK damages principles. The Remuneration Committee confirms that contracts of this type are not appropriate and termination arrangements for the current executive team, including Jim Mullen who was appointed CEO on 1 April 2015, are determined on payment in lieu of notice (PILON) principles in line with best practice. The Remuneration Committee further notes that Jim Mullen was appointed on a lower salary and shorter notice period than the previous CEO.
As at 7 May 2015, the issued share capital of the Company was 923,007,859 ordinary shares of 28⅓ pence each (excluding shares held in treasury).
In accordance with Listing Rule 9.6.2, copies of the resolutions passed as special business will be submitted to the National Storage Mechanism and will be available for viewing at www.Hemscott.com/nsm.do.
The results will also be made available on the Company's website at www.ladbrokesplc.com/agm.
Adrian Bushnell
Company Secretary
Related Shares:
Ladbrokes Coral