TIDMKIE
RNS Number : 7395T
Kier Group PLC
16 November 2023
16 November 2023
KIER GROUP PLC
RESULT OF ANNUAL GENERAL MEETING
Kier Group plc (the "Company") announces the results of its
Annual General Meeting held on 16 November 2023. The voting was
held on a poll and the results for each resolution were as
follows:
Resolution Votes % votes Votes % votes Votes Total votes % voted(3)
for for(1) against Against(1) Withheld(2) validly
cast(2)
To receive the Annual
Report
and Accounts for the
year
1 ended 30 June 2023 267,582,970 99.99 17,669 0.01 565,221 267,600,639 59.95
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To approve the
Directors'
2 remuneration policy 158,612,472 61.40 99,696,433 38.60 9,860,396 258,308,905 57.87
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To approve the
Directors'
remuneration report
for
the year ended 30 June
3 2023 267,251,805 99.69 835,349 0.31 82,147 268,087,154 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-elect Mr MJ
Lester
4 as a Director 234,701,884 87.55 33,382,597 12.45 84,820 268,084,481 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-elect Mr AOB
Davies
5 as a Director 261,665,666 97.60 6,439,115 2.40 64,520 268,104,781 60.07
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-elect Mr SJ
Kesterton
6 as a Director 267,101,080 99.63 1,003,701 0.37 64,520 268,104,781 60.07
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-elect Mr JR
Atkinson
7 as a Director 255,425,116 95.28 12,649,628 4.72 94,557 268,074,744 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-elect Ms AJ
Atkinson
8 as a Director 263,589,918 98.33 4,468,524 1.67 103,996 268,058,442 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-elect Ms MC
Browne
9 OBE as a Director 263,333,064 98.24 4,711,339 1.76 124,898 268,044,403 60.05
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To elect Ms MG Hassall
10 as a Director 267,823,677 99.92 207,691 0.08 137,933 268,031,368 60.05
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-elect Mr CG
Watson
11 as a Director 262,060,542 97.76 6,007,222 2.24 101,537 268,067,764 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To re-appoint
PricewaterhouseCoopers
12 LLP as auditor 264,311,222 98.62 3,704,415 1.38 138,540 268,015,637 60.05
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To authorise the Risk
Management
and Audit Committee to
agree the remuneration
13 of the auditor 267,736,509 99.94 166,682 0.06 266,110 267,903,191 60.02
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To authorise pollical
14 donations 267,073,907 99.70 800,162 0.30 295,232 267,874,069 60.01
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To authorise the
Directors
15 to allot shares 258,042,503 96.31 9,873,616 3.69 238,058 267,916,119 60.02
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To authorise the
Directors
to disapply
pre-emption
16 rights (general) 266,059,625 99.24 2,034,322 0.76 75,354 268,093,947 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To authorise the
Directors
to disapply
pre-emption
rights (acquisition or
specified capital
17 investment) 265,341,195 98.97 2,768,710 1.03 59,396 268,109,905 60.07
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To authorise the
Company
to make market
purchases
of the Company's
ordinary
18 shares of 1p each 267,670,222 99.94 156,871 0.06 342,208 267,827,093 60.00
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To approve the
cancellation
of the Company's share
19 premium account 267,866,932 99.93 197,686 0.07 104,683 268,064,618 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To approve the
cancellation
of the Company's
capital
20 redemption reserve 267,936,317 99.95 132,553 0.05 100,431 268,068,870 60.06
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
To authorise the
Company
to call general
meetings,
other than annual
general
meetings, on not less
than
21 14 clear days' notice 263,521,613 98.29 4,595,572 1.71 52,116 268,117,185 60.07
----------------------- ------------ -------- ----------- ----------- ------------ ------------ -----------
Notes :
1. Expressed as a percentage of all votes validly cast (and does not include votes withheld).
2. A vote withheld is not a vote in law and is not counted in
the calculation of the proportion of votes validly cast.
3. Expressed as a percentage of the total issued share capital
on 14 November 2023. The number of ordinary shares in issue on 14
November 2023 was 446,354,414 .
Shareholders are entitled to one vote per share. Resolutions 1
to 15 (inclusive) were passed as ordinary resolutions and
resolutions 16 to 21 (inclusive) were passed as special
resolutions.
The Board notes that Resolution 2 (which related to the binding
vote on the Directors' Remuneration Policy) was passed with 61.4%
of votes in favour. The Chair of the Remuneration Committee
consulted extensively with a wide range of shareholders on the
proposed Directors' Remuneration Policy which was designed to
appropriately incentivise the Chief Executive and Chief Financial
Officer to continue to deliver on the medium-term value creation
plan, the achievement of which will benefit the Company, its
shareholders and other stakeholders. The Board is grateful to
shareholders for their engagement earlier in the year and in the
lead up to the AGM, during which shareholders expressed different
perspectives. The Company remains committed to ongoing shareholder
engagement and will continue to do so to ensure that the Company
understands shareholders' views and is able to consider feedback on
the Company's approach to remuneration going forward. The Company
will provide an update on engagement within six months and in next
year's annual report, in line with the provisions of the UK
Corporate Governance Code.
Following the passing of resolutions 19 and 20, the Company
intends to apply to the High Court of Justice in England and Wales
(the "Court") to approve the cancellation of both the Company's
share premium account and the Company's capital redemption reserve
(collectively, the "Capital Reduction"). The expected timetable of
principal events with respect to the Capital Reduction is as
follows:
Principal event Date
Expected date for the directions 1 December 2023
hearing for the Court to consider
the Capital Reduction application
----------------
Expected date for the hearing by 19 December
Court to confirm the Capital Reduction 2023
----------------
Expected date that the Capital Late December
Reduction becomes effective 2023
----------------
Notes :
1. The dates set out in this timetable are based on the
Company's current expectations and are subject to change. The times
and dates are indicative only and will depend, among other things,
on the date upon which the Court confirms the Capital Reduction.
The provisional final hearing date will be subject to change and
dependent on the Court.
2. All times shown are London times unless otherwise stated.
A copy of all resolutions passed, other than those concerning
ordinary business, will today be submitted to the National Storage
Mechanism in accordance with Listing Rule 9.6.2. These resolutions
will shortly be available for inspection at: https://
data.fca.org.uk/#/nsm/nationalstoragemechanism .
The Kier Group plc Legal Entity Identifier is
2138002RKCU2OM4Y7O48.
For enquiries, please contact:
Kier Group plc
Jaime Tham +44 (0) 7801 975
Company Secretary 672
FTI Consulting
Richard Mountain +44 (0) 20 3727
/ Ben Fletcher 1340
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END
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