TIDMAVON
RNS Number : 3845N
Avon Rubber PLC
29 January 2021
29 January 2021
Avon Rubber p.l.c.
(the 'Company')
Result of AGM
Avon Rubber p.l.c. is pleased to announce that, at its Annual
General Meeting held today, all the resolutions proposed in the
Notice of Meeting were duly passed.
A breakdown of proxy votes lodged prior to the meeting for each
resolution is set out below and will also be made available on the
Company's website: www.avon-rubber.com
For % Against % Withheld
To receive the Report
1 and Accounts 23,732,634 99.99 3,119 0.01 199,790
---------------------------- ----------- ------ ------ ----------
To approve the Directors'
2 Remuneration Report 16,787,428 76.30 5,215,543 23.70 1,932,572
---------------------------- ----------- ------ ------ ----------
To approve the Directors'
3 Remuneration Policy 20,985,904 87.69 2,946,955 12.31 2,684
---------------------------- ----------- ------ ------ ----------
To declare a final
4 dividend 23,934,955 99.99 64 0.01 525
---------------------------- ----------- ------ ------ ----------
To re-elect Chloe
5 Ponsonby as a Director 23,932,175 99.99 1,848 0.01 1,521
---------------------------- ----------- ------ ------ ----------
To re-elect Paul McDonald
6 as a Director 23,754,372 99.99 642 0.01 180,530
---------------------------- ----------- ------ ------ ----------
To re-elect Nicholas
7 Keveth as a Director 23,933,445 99.99 578 0.01 1,521
---------------------------- ----------- ------ ------ ----------
To elect Bruce Thompson
8 as a Director 23,920,671 99.96 10,717 0.04 4,156
---------------------------- ----------- ------ ------ ----------
To elect Bindi Foyle
9 as a Director 23,927,810 99.99 3,578 0.01 4,156
---------------------------- ----------- ------ ------ ----------
To elect Victor Chavez
10 CBE as a Director 23,930,746 99.99 642 0.01 4,156
---------------------------- ----------- ------ ------ ----------
To re-appoint KPMG
LLP as auditor of
11 the Company 23,932,859 99.99 1,553 0.01 1,132
---------------------------- ----------- ------ ------ ----------
To authorise the Directors
to determine the auditors'
12 remuneration 23,934,064 99.99 690 0.01 790
---------------------------- ----------- ------ ------ ----------
To authorise the Company
to make political
donations (as defined
13 in Companies Act 2006) 23,677,259 98.94 253,891 1.06 4,394
---------------------------- ----------- ------ ------ ----------
To amend the Articles
14 of Association 23,931,973 99.99 1,014 0.01 2,557
---------------------------- ----------- ------ ------ ----------
To authorise the Directors
15 to allot shares 22,695,426 94.83 1,238,496 5.17 1,622
---------------------------- ----------- ------ ------ ----------
To disapply pre-emption
16 rights 23,929,214 99.98 4,608 0.02 1,722
---------------------------- ----------- ------ ------ ----------
To disapply pre-emption
rights limited to
a specified capital
17 investment/acquisition 23,688,732 98.97 245,961 1.03 850
---------------------------- ----------- ------ ------ ----------
To authorise the Company
to purchase its own
18 shares 23,726,220 99.17 199,103 0.83 10,220
---------------------------- ----------- ------ ------ ----------
To authorise the Company
to hold General Meetings
19 on short notice 23,604,841 98.62 329,300 1.38 1,403
---------------------------- ----------- ------ ------ ----------
To amend the rules
of the Company's Long-Term
20 Incentive Plan 23,184,365 96.88 747,771 3.12 3,406
---------------------------- ----------- ------ ------ ----------
Notes
1. Any proxy appointments which gave discretion to the Chairman
have been included in the "for" total.
2. A "vote withheld" is not a vote under English law and is not
counted in the calculation of the proportion of the votes "for" and
"against" a resolution.
3. Discretionary proxy votes lodged in favour of a third party
have not been included in the "for", "against" or "total"
figures.
4. At the date of the AGM the issued share capital of the Company is 31,023,292 ordinary shares.
Resolution 2 (Remuneration Report)
The Board notes that while Resolution 2 to approve the
Directors' Remuneration Report was passed, a significant minority
of shareholders voting (23.7%), chose not to support this
resolution.
The Remuneration Committee gave careful consideration to
executive remuneration during 2021 and consulted extensively with
the Company's largest shareholders and the major proxy voting
agencies. The views of all our shareholders are important to us and
we will consult further with those shareholders who voted against
this resolution to better understand their specific concerns.
The Company will provide an update within six months as required
by the Corporate Governance Code 2018.
In accordance with paragraph 9.6.2 of the Listing Rules, a copy
of the resolutions passed as special business along with the new
articles of association will be submitted as soon as practicable to
the National Storage Mechanism and will be available shortly for
inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Miles Ingrey-Counter
Company Secretary
LEI: 213800JM1AN62REBWA71
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END
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