TIDMSVS
RNS Number : 4113Y
Savills PLC
12 May 2021
12 MAY 2021
SAVILLS PLC
('the Company')
ANNUAL GENERAL MEETING - 12 MAY 2021: RESOLUTIONS
The Savills plc Annual General Meeting was held on Wednesday 12
May 2021 at Finsbury Circus House, 15 Finsbury Circus, London EC2M
7EB. All resolutions were passed on a poll
An analysis of the proxy votes lodged against each resolution
prior to the AGM is set out below:
Resolution No. of Votes % For No. of % Against Total No. Total No. Poll
For Votes Against of Votes of Votes Yes/No
Cast Withheld/
Abstentions
To receive the 2020
Annual Report
and Accounts, the
Directors' Reports
and the Auditors'
Report on the
2020 Annual Report
1 and Accounts 116,258,719 100.00% 185 0.00% 116,258,904 173,157 Yes
-------------------- ------------- -------- ---------- -------------
To approve the
Directors'
Remuneration
Report contained in
the Annual
Report and Accounts
for the financial
year ended 31
2 December 2020 86,458,864 79.05% 22,920,316 20.95% 109,379,180 7,052,881 Yes
-------------------- ------------- -------- ---------- ------------- --------
To declare a final
dividend of
17.0p per ordinary
3 share 116,427,799 100.00% 0 0.00% 116,427,799 4,262 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-elect
Nicholas Ferguson
4 as a Director 115,413,693 99.14% 998,106 0.86% 116,411,799 20,262 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-elect Mark
Ridley as a
5 Director 111,165,785 95.49% 5,246,014 4.51% 116,411,799 20,262 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-elect Tim
Freshwater as
6 a Director 109,705,281 94.24% 6,706,366 5.76% 116,411,647 20,414 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-elect Simon
7 Shaw as a Director 111,748,467 95.99% 4,663,180 4.01% 116,411,647 20,414 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-elect Stacey
Cartwright
8 as a Director 109,036,778 93.66% 7,374,869 6.34% 116,411,647 20,414 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-elect
Florence
Tondu-Mélique
9 as a Director 109,673,848 94.21% 6,737,951 5.79% 116,411,799 20,262 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-appoint Dana
Roffman as
10 a Director 109,035,181 93.66% 7,376,466 6.34% 116,411,647 20,414 Yes
-------------------- ------------- -------- ---------- ------------- --------
To re-appoint
Philip Lee as a
11 Director 116,261,036 99.87% 150,611 0.13% 116,411,647 20,414
-------------------- ------------- -------- ---------- ------------- --------
To re-appoint
Richard Orders as
12 a Director 116,259,046 99.87% 152,601 0.13% 116,411,647 20,414
-------------------- ------------- -------- ---------- ------------- --------
To appoint Ernst &
Young as the
13 Auditors 116,152,451 99.78% 256,900 0.22% 116,409,351 22,710 Yes
-------------------- ------------- -------- ---------- ------------- --------
To authorise the
Directors to
determine the
Auditors'
14 remuneration 116,408,007 100.00% 3,773 0.00% 116,411,780 20,281 Yes
-------------------- ------------- -------- ---------- ------------- --------
To authorise the
extension of
the Savills plc
Performance Share
15 Plan 115,428,115 99.15% 985,894 0.85% 116,414,009 18,052
-------------------- ------------- -------- ---------- ------------- --------
To renew the
Directors' power
16 to allot shares 110,077,891 94.57% 6,325,330 5.43% 116,403,221 28,840 Yes
-------------------- ------------- -------- ---------- ------------- --------
To authorise a
general
disapplication
of statutory
pre-emption rights
17 (#) 115,903,965 99.57% 498,540 0.43% 116,402,505 29,556 Yes
-------------------- ------------- -------- ---------- ------------- --------
To authorise an
additional
disapplication
of statutory
pre-emption
18 rights(#) 109,322,994 93.92% 7,079,510 6.08% 116,402,504 29,557 Yes
-------------------- ------------- -------- ---------- ------------- --------
To renew the
Company's authority
to purchase its own
19 shares (#) 116,199,774 99.94% 65,665 0.06% 116,265,439 166,622 Yes
-------------------- ------------- -------- ---------- ------------- --------
To authorise the
Directors to
call general
meetings on 14
clear
20 days' notice (#) 103,658,926 89.04% 12,756,333 10.96% 116,415,259 16,802 Yes
-------------------- ------------- -------- ---------- ------------- --------
(#) Passed as a special resolution.
The Board acknowledges the level of votes cast against
Resolution 2, the advisory vote on the implementation of the
Company's 2020 Remuneration Policy, itself approved by 90% of
shareholders at last year's AGM.
In advance of the AGM the Board engaged with both shareholders
and proxy advisors in respect of concerns raised on aspects of the
Directors' Remuneration Report. The Board understands that
shareholders' primary concern was its decision to take into account
a wider number of operational and strategic performance metrics
than the profit targets set prior to the pandemic. The Board
applied discretion to specifically award 21% of the maximum
potential profit related bonus element to the Executive Directors
to recognise the significant operational and strategic progress in
the year, reflected by the impressive market share gains. This
decision resulted in total remuneration of the Executive Directors
being reduced by 45% year-on-year. Some shareholders also felt that
Executive Directors pension provision may not be aligned with the
all-employee rate although this is fully aligned with the rates
available to colleagues with an equivalent level of service.
The Board is satisfied that its recommendation was made in the
best interests of all stakeholders. In light of the voting outcome,
and in any event as part of the planned introduction of the new
Chair of the Remuneration Committee to our leading shareholders, it
will engage with our leading shareholders over the coming months.
In accordance with the UK Corporate Governance Code, the Company
will publish an update on that engagement within six months of the
2021 AGM
NOTES:
All resolutions were passed
1. Votes 'withheld' have not been included in the calculation of
whether a resolution is carried. Percentages have been rounded to
two decimal places.
2. Copies of Resolutions 17 to 20 , will be submitted to the
National Storage Mechanism and in due course will be available to
view at http://data.fca.org.uk/#/nsm/nationalstoragemechanism using
Savills plc's code 'SVS'.
3. Details of the votes received on the resolutions are available on the Company's website: http://ir.savills.com/shareholder-information/agm
4. The issued share capital was 143,073,983 ordinary shares of
2.5 pence each and the total number of voting rights in respect of
these ordinary shares was 143,073,983 each ordinary share having
one vote.
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END
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