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Redrow PLC

Redrow PLC - Result of AGM

RNS Number : 7811O
Redrow PLC
09 November 2016
 

9 November 2016

 

Redrow plc

 

Result of AGM

 

 

Redrow plc (the "Company") is pleased to announce that at its annual general meeting ("AGM") held earlier today all resolutions put to the meeting were passed by way of a poll and the results of the poll are set out below.

 

 

RESOLUTION

VOTES
FOR

%

VOTES AGAINST

%

VOTES
TOTAL

% of ISC VOTED

VOTES WITHHELD

1

322,981,686

100.00

4,740

0.00

322,986,426

87.34%

26,083

2

323,036,399

100.00

612

0.00

323,037,011

87.35%

498

3

319,095,143

99.11

2,851,981

0.89

321,947,124

87.06%

1,090,384

4

322,535,943

99.85

494,888

0.15

323,030,831

87.35%

6,678

5

322,243,639

99.76

787,363

0.24

323,031,002

87.35%

5,907

6

316,371,037

97.94

6,661,957

2.06

323,032,994

87.35%

4,515

6*

166,984,992

96.16

6,661,957

3.84

173,646,949

78.78%

4,515

7

322,852,457

99.94

179,662

0.06

323,032,119

87.35%

5,390

7*

173,466,412

99.90

179,662

0.10

173,646,074

78.78%

5,390

8

322,737,025

99.96

122,470

0.04

322,859,495

87.31%

8,919

8*

173,350,980

99.93

122,470

0.07

173,473,450

78.70%

8,919

9

322,887,028

99.96

128,081

0.04

323,015,109

87.35%

21,436

9*

173,500,983

99.93

128,081

0.07

173,629,064

78.77%

21,436

10

320,332,646

99.17

2,693,549

0.83

323,026,195

87.35%

10,739

11

322,995,896

99.99

27,209

0.01

323,023,105

87.35%

13,970

12

319,777,364

99.78

704,392

0.22

320,481,756

86.66%

2,555,752

13

322,148,972

99.73

866,139

0.27

323,015,111

87.35%

22,398

14**

91,680,018

61.69

56,932,011

38.31

148,612,029

40.19%

25,038,860

15

319,951,192

99.05

3,063,926

0.95

323,015,118

87.35%

22,391

16

317,374,718

98.25

5,641,735

1.75

323,016,453

87.35%

21,055

17

321,308,147

99.47

1,717,973

0.53

323,026,120

87.35%

11,388

18

314,865,962

97.48

8,146,706

2.52

323,012,668

87.35%

24,840

 

N.B         Percentage of Votes cast excludes Withheld Votes and percentages are calculated to two decimal places

               

* Following changes to the Listing Rules which took effect in May 2014, Resolutions 6, 7, 8 and 9 must be approved by a simple majority of all shareholders and by a simple majority of the independent shareholders, 6*, 7*, 8* and 9* above sets out the results of the independent shareholder vote.

 

** Resolution 14 was put to the AGM as a resolution of the independent shareholders of the Company. As a result, 220,413,893 of the ordinary shares in issue were eligible to vote on this Resolution, these shares not being held by Steve Morgan or persons with whom Mr Morgan is acting in concert (as defined in the City Code on Takeovers and Mergers) (the "Significant Shareholders").

 

*** ISC = Issued Share Capital

 

The payment date of the dividend approved by Resolution 2 will be 11 November 2016.

 

The Board notes that Resolution 14 relating to the approval of the terms of the Waiver (as defined in the Notice of AGM), received a vote of 61.69% in favour. The Board values and respects the views of shareholders. The Board has already consulted with a number of shareholders and proxy advisor bodies prior to the AGM to discuss their concerns relating to the Waiver. The Board continues to take its responsibility to engage with shareholders seriously and will assess the feedback it has received to inform future consultations.

 

Assuming: (i) full use by the Company of the authority to buy back ordinary shares granted under Resolution 17; (ii) no participation or other sales of interests in ordinary shares by any Significant Shareholder in connection with any share repurchases or otherwise; and (iii) no other person exercising any options or any other rights to subscribe for ordinary shares, the Significant Shareholders' maximum potential interest in the ordinary shares would be as set out in the following table:

 

Significant Shareholders' interests in ordinary shares on 9 November 2016

Number of ordinary shares in issue on 9 November 2016

Significant Shareholders' maximum potential interests in ordinary shares

149,386,045

(40.40%)

369,799,938

149,386,045

(44.88%)

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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