TIDMRDW
RNS Number : 0939W
Redrow PLC
09 November 2017
9 November 2017
Redrow plc
Result of AGM
Redrow plc (the "Company") announces that at its annual general
meeting ("AGM") held earlier today all resolutions put to the
meeting, except Resolution 16, were passed by way of a poll and the
results of the poll are set out below. For shareholders'
information, the current issued share capital of the Company is
369,799,938 shares and shareholders are entitled to one vote per
share held.
Votes For Votes Against Votes Total
(inc. discretionary) (exc. Votes
Withheld)
----- ----------------------- --------------------- -------------------- ---------------------- ---------- ------------
Resolution No. % No. % No. % Votes Votes
of shares of shares of of Withheld Total
shares ISC*** (inc.
Voted Withheld)
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To receive
the 2017 Directors'
and Auditors'
reports and
financial
1 statements 296,954,482 99.96 112,428 0.04 297,066,910 80.33 174,827 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To approve
the final
2 dividend 297,203,430 99.99 37,600 0.01 297,241,030 80.38 509 297,241,539
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Steve Morgan
3 as a director 291,592,553 98.77 3,623,086 1.23 295,215,639 79.83 2,026,098 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
John Tutte
4 as a director 295,961,647 99.57 1,278,459 0.43 297,240,106 80.38 1,631 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Barbara Richmond
5 as a director 295,128,771 99.29 2,108,610 0.71 297,237,381 80.38 4,356 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Debbie Hewitt
6 as a director 277,598,398 93.39 19,636,905 6.61 297,235,303 80.38 6,434 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Debbie Hewitt
6* as a director 156,890,020 88.88 19,636,905 11.12 176,526,925 70.90 6,434 176,533,359
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Nick Hewson
7 as a director 292,684,464 98.47 4,554,538 1.53 297,239,002 80.38 2,735 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Nick Hewson
7* as a director 171,976,086 97.42 4,554,538 2.58 176,530,624 70.90 2,735 176,533,359
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Sir Michael
Lyons as a
8 director 293,212,740 98.65 4,025,738 1.35 297,238,478 80.38 3,259 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
Sir Michael
Lyons as a
8* director 172,504,362 97.72 4,025,738 2.28 176,530,100 70.90 3,259 176,533,359
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To appoint
Vanda Murray
9 as a director 296,786,226 99.85 443,351 0.15 297,229,577 80.38 12,160 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To appoint
Vanda Murray
9* as a director 176,077,848 99.75 443,351 0.25 176,521,199 70.89 12,160 176,533,359
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To re-appoint
PricewaterhouseCoopers
10 LLP as Auditors 282,389,430 95.01 14,841,849 4.99 297,231,279 80.38 10,458 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To authorise
the Directors
to determine
the Auditors
11 fees 271,761,284 91.43 25,467,369 8.57 297,228,653 80.38 13,084 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To approve
the Directors'
remuneration
12 report 294,952,301 99.96 115,267 0.04 295,067,568 79.79 2,174,169 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To approve
the Directors'
remuneration
13 policy 295,928,671 99.97 88,112 0.03 296,016,783 80.05 1,224,954 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To increase
the cap on
the level
of ordinary
remuneration
of the Non-Executive
14 Directors 294,942,698 99.61 1,167,393 0.39 296,110,091 80.07 1,129,991 297,240,082
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To give the
Directors
authority
to allot shares
15 in the Company 294,319,154 99.03 2,892,378 0.97 297,211,532 80.37 25,103 297,236,635
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To approve
the Rule 9
obligation
waiver granted
16** by the Panel 72,542,553 41.32 103,031,845 58.68 175,574,398 47.48 958,961 176,533,359
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To dis-apply
pre-emption
rights (general
17 power) 297,115,755 99.97 103,375 0.03 297,219,130 80.37 22,607 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To dis-apply
pre-emption
rights (additional
power for
financing
18 specific transactions) 293,480,511 98.74 3,736,924 1.26 297,217,435 80.37 24,302 297,241,737
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To authorise
the Company
to purchase
19 its own shares 289,039,518 97.46 7,522,630 2.54 296,562,148 80.20 671,389 297,233,537
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
To approve
the calling
of general
meetings on
20 14 days' notice 290,391,672 97.71 6,808,378 2.29 297,200,050 80.37 22,521 297,222,571
----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
N.B. A 'vote withheld' is not a vote in law and is not counted
in the proportion of votes 'for' or 'against' a resolution. All
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 16 was put to the AGM as a resolution of the
independent shareholders of the Company. As a result, 248,991,560
of the ordinary shares in issue were eligible to vote on this
Resolution, these shares not being held by the Concert Party (as
defined in the notice of AGM).
*** ISC = Issued Share Capital
The payment date of the dividend approved by Resolution 2 will
be 14 November 2017.
The Board notes that a majority of independent shareholders have
voted against Resolution 16, which sought approval of the terms of
the Waiver (as defined in the Notice of AGM). The Waiver would have
permitted the Concert Party's percentage interest in the Company's
shares to increase from 32.67% to a maximum of 36.30% (in each case
representing 120,808,378 ordinary shares) as a result of share buy
backs authorised by Resolution 19 without requiring the Concert
Party to make a mandatory offer for other shareholders' shares. The
Board respects and values the views of shareholders and will assess
the feedback it has received to inform future consultations,
including ahead of future AGMs.
In compliance with Listing Rule 9.6.2R, copies of Resolutions
14, 15, 17, 18, 19 and 20 have been forwarded to the UK Listing
Authority for publication through the National Storage Mechanism
where they will shortly be available for inspection at
www.morningstar.co.uk/uk/NSM.
Results of the poll can also be viewed on the Company's website
at http://investors.redrowplc.co.uk/shareholder-information.
Graham Cope
Company Secretary
01244 520044
This information is provided by RNS
The company news service from the London Stock Exchange
END
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