Result of AGM

RNS Number : 7824E

Dalata Hotel Group PLC

10 May 2017

 

     AGM RESULTS

ISE: DHG              LSE: DAL

Dublin, 10 May 2017 | Dalata Hotel Group plc ("Dalata" or the "Group"), Ireland's largest hotel operator, today announces that all resolutions proposed at the Annual General Meeting of the Company were passed, results of which set out below. The full text of each resolution was included in the notice of the Annual General Meeting of the Company circulated to shareholders on 30 March 2017 and made available on the Company's website www.dalatahotelgroup.com 

The Board is pleased with the very high levels of support for our Remuneration Policy with 99% votes in favour and with the 97% votes in support of the Long Term Incentive Plan.  However, the Board is mindful of the concerns expressed by a number of shareholders in relation to executive remuneration which is reflected in the 25% vote against the 2016 report on remuneration.

The Company has had extensive dialogue with a significant number of our shareholders leading up to today's AGM which has helped clarify the issues, which primarily relate to percentage increases in salaries for the Chief Executive and two Executive Directors. We value the open dialogue which many of our shareholders had with us and we look forward to continuing this very constructive and open engagement on governance and remuneration matters in the future.

In accordance with the Listing Rules copies of the resolutions passed at the Annual General Meeting of the Company have been forwarded to both the Irish Stock Exchange and the UK National Storage Mechanism and will shortly be available for inspection at the following locations: -

Companies Announcements Office,

Irish Stock Exchange

28 Anglesea Street

Dublin 2

And

http://www.morningstar.co.uk/uk/NSM

The results of the voting, on each resolution, are outlined below. The total votes incudes proxy votes submitted in advance of the meeting and votes cast at the meeting by the directors and company secretary.

Resolution 1:

To receive and consider the accounts for the year ended 31 December 2016 together with the reports of the Directors and Auditors.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
135,254,696	100%	0	0%	135,254,696	0	135,254,696

Resolution 2:

To receive and consider the Director's Report on Remuneration for the year ended 31 December 2016.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
100,403,551	75%	34,258,162	25%	134,661,713	592,983	135,254,696

Resolution 3:

To receive and consider the Company's Remuneration Policy for the year ended 31 December 2016.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
134,056,854	99%	1,197,842	1%	135,254,696	0	135,254,696

Resolution 4 (a):

To re-appoint John Hennessy as a Director

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
135,041,417	100%	213,279	0%	135,254,696	0	135,254,696

Resolution 4 (b):

To re-appoint Pat McCann as a Director

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
133,324,884	99%	1,929,812	1%	135,254,696	0	135,254,696

Resolution 4 (c):

To re-appoint Stephen McNally as a Director.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
133,318,884	99%	1,935,812	1%	135,254,696	0	135,254,696

Resolution 4 (d):

To re-appoint Dermot Crowley as a Director.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
133,324,884	99%	1,929,812	1%	135,254,696	0	135,254,696

Resolution 4 (e):

To re-appoint Robert Dix as a Director.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
131,140,774	97%	4,113,922	3%	135,254,696	0	135,254,696

Resolution 4 (f):

To re-appoint Alf Smiddy as a Director.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
131,715,578	97%	3,539,118	3%	135,254,696	0	135,254,696

Resolution 4 (g):

To re-appoint Margaret Sweeney as a Director.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
131,170,416	97%	4,084,280	3%	135,254,696	0	135,254,696

Resolution 5:

To authorise the Directors to determine the remuneration of the Auditors.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
131,362,989	97%	3,884,407	3%	135,247,396	0	135,247,396

Resolution 6:

To approve the Long Term Incentive Plan and authorise the Directors to adopt further plans based on the Long Term Incentive Plan.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
131,791,482	97%	3,463,214	3%	135,254,696	0	135,254,696

Resolution 7:

To authorise the Directors to allot shares.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
134,995,396	100%	259,300	0%	135,254,696	0	135,254,696

Resolution 8:

Special resolution to authorise the Directors to dis-apply statutory

pre-emption rights.

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
134,690,078	100%	564,618	0%	135,254,696	0	135,254,696

Resolution 9:

Special resolution to authorise the Directors to dis-apply statutory

pre-emption rights in additional circumstances

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
124,378,123	92%	10,876,573	8%	135,254,696	0	135,254,696

Resolution 10:

Special resolution to allow the Director's to call a general meeting using the shorter notice period (14 clear days)

Votes For		Votes Against		Total        Votes	Votes Withheld	Total including withheld
No.	%	No.	%			Votes
128,417,052	95%	6,837,644	5%	135,254,696	0	135,254,696

The "Vote Withheld" option is provided to enable abstention on any particular resolution. However, it should be noted that a "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" a resolution.

ENDS

  Contacts

Dalata Hotel Group plc Sean McKeon, Chief Financial Officer and Company Secretary T: [phone] E: [e-mail]

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 41 hotels with over 8,000 rooms. Dalata successfully operates Ireland's two largest hotel brands, Clayton Hotels and Maldron Hotels across Ireland and the UK, as well as managing a portfolio of partner properties. 24 of the hotels are owned by Dalata, 10 hotels are operated under lease agreements and 7 are operated under management agreements.

For the full year 2016 Dalata reported revenue of €290.5 million. Dalata is listed on the Main Market of the Irish Stock Exchange (DHG) and the London Stock Exchange (DAL).

For further information visit: www.dalatahotelgroup.com

 

END

 

 

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