Clipper Logistics plc Result of AGM (3700C)
September 28 2018 - 7:03AM
UK Regulatory
TIDMCLG
RNS Number : 3700C
Clipper Logistics plc
28 September 2018
FOR IMMEDIATE RELEASE 28 september 2018
Clipper Logistics plc
Results of AGM
At the Annual General Meeting ("AGM") of Clipper Logistics plc
("Clipper", "the Group", or "the Company"), held on 28 September
2018 all the resolutions put to the meeting were passed, except
resolutions 9 and 13 which were withdrawn by the Chairman during
the meeting. The details of the votes cast are shown in a table
below. The full text of each of the resolutions is shown in the
Notice of the AGM, which is available on our website at
www.clippergroup.co.uk. The maximum total of votes cast was
87,967,391 representing 86.65% of Clipper's issued share
capital.
In accordance with Listing Rule 9.6.3 (1), copies of the
resolutions (other than those resolutions comprising ordinary
business) will shortly be made available for inspection on the
National Storage Mechanism at www.morningstar.co.uk/uk/NSM.
AGM - Poll results
Resolution Votes For % For** Votes Against % Votes Total Votes
Against** Withheld
Annual Report and
1 Accounts 87,661,961 99.65% 305,430 0.35% 87,967,391 0
Directors' Remuneration
2 Report 87,967,391 100.00% 0 0.00% 87,967,391 0
3 Final Dividend 87,967,191 100.00% 200 0.00% 87,967,391 0
4 Re-appoint Auditors 87,967,391 100.00% 0 0.00% 87,967,391 0
5 Remuneration of Auditors 87,967,391 100.00% 0 0.00% 87,967,391 0
6 Re-elect Steven Parkin 86,560,769 98.40% 1,406,621 1.60% 87,967,390 0
7 Re-elect Antony Mannix 87,943,159 99.97% 24,232 0.03% 87,967,391 0
8 Allot shares 86,462,791 98.65% 1,185,377 1.35% 87,648,168 319,221
Notice period for
10* general meetings 87,822,316 99.84% 145,075 0.16% 87,967,391 0
Allot equity securities
11* for cash 87,967,191 100.00% 200 0.00% 87,967,391 0
Allot equity securities
for cash - acquisition
12* or capital investment 86,619,891 98.47% 1,347,499 1.53% 87,967,390 0
Rule 9 Panel waiver
14 - share awards 36,496,501 75.29% 11,975,141 24.71% 48,471,642 33,800
*Special Resolutions
**The percentage of votes cast for and against excludes withheld
votes.
The Board notes that resolution 14, relating to the approval of
the Panel Waiver given in connection with share awards made under
the Company's Performance Share Plan to the Company's Chairman and
certain other officers of the Company who are regarded as acting in
concert, received a vote of 75.29%% in favour and recognises that a
significant minority of shareholders have voted against this
resolution.
Whilst the Board unanimously believes that the Remuneration
Committee made the right decision in aligning executive reward to
the shareholder experience, it is clear that there is a divergence
of opinion amongst some shareholders as regards awards to the
concert party. Looking forward, the Board notes that the
Remuneration Committee intends to extend its engagement with the
Company's shareholders to fully understand shareholder views and to
enable it to better address the reasons behind today's vote
result.
ENQUIRIES
Clipper: +44 (0)113 204 2050
Steve Parkin, Executive Chairman
David Hodkin, Chief Financial
Officer
Marianne Hodgkiss, Company Secretary
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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