Result of AGM

RNS Number : 2874S

Inchcape PLC

14 May 2009

 



14 May 2009

Result of Annual General Meeting

Inchcape plc ('Inchcape' or the 'Company'), a leading independent automotive distributor and retailer, confirms that all resolutions, both ordinary and special, proposed by the Inchcape board (Resolutions 1 to 12) were duly passed at its Annual General Meeting held earlier today.

The number of votes cast on each resolution is as follows:

Resolutions proposed by the Board:

Resolution	Votes For	% For	Votes Against	% Against	Votes Withheld
1. To receive the Accounts and Directors' and Auditors Reports	3,107,372,950	99.88	3,710,808	0.12	467,591,599
2. To approve the Board Report on Remuneration	2,374,141,306	77.03	707,989,332	22.97	495,305,307
3. To re-elect Ken Hanna as a Director	3,567,117,420	99.74	9,321,205	0.26	1,052,321
4. To re-elect Michael Wemms as a Director	3,274,520,746	91.56	301,893,819	8.44	1,076,381
5. To re-elect David Scotland as a Director	3,274,672,730	91.56	301,761,895	8.44	1,056,321
6. To reappoint PricewaterhouseCoopers LLP as Auditors	3,545,694,474	99.75	8,795,885	0.25	23,000,586
7. To authorise the Directors to determine the Auditors' remuneration	3,572,400,942	99.88	4,444,189	0.12	645,815
8. To amend the rules of The Inchcape 1999 Share Option Plan	3,179,187,872	99.79	6,660,757	0.21	391,592,320
9. To authorise the Directors to allot relevant securities pursuant to section 80 of the Companies Act 1985	3,572,523,743	99.89	4,068,715	0.11	898,488
10. To empower the Directors to disapply pre-emption rights pursuant to Section 95 of the Companies Act 1985	3,575,333,298	99.97	1,195,860	0.03	933,015
11. To authorise the Company to make market purchases of its ordinary shares up to 10.0% of its issued share capital	3,575,769,920	99.97	927,648	0.03	743,378
12. Notice of Meetings	3,554,603,090	99.38	22,112,709	0.62	626,374

Inchcape is pleased to confirm that Ken Hanna today became the Company's non executive Chairman, succeeding Peter Johnson who will be leaving the Company after 15 years.  The Company also confirms that Graham Pimlott has been appointed Chairman of the Audit Committee, succeeding Ken Hanna. 

Peter Johnson said:

'I have thoroughly enjoyed my time at Inchcape and leave the Company in extremely capable hands and well positioned for the future in spite of the very difficult market conditions'

Commenting on his new role as Chairman, Ken Hanna said:

'I am delighted to become Chairman of Inchcape and I very much look forward to working with the Board in my new role. Peter Johnson has served the Group as CEO and Chairman for over ten years for which we thank him and wish him well. 

With our presence in 26 markets, our focus on customer service and strengthened financial position, we are well placed to emerge from the economic downturn even stronger.'

Ends

Group Communications, Inchcape plc

[phone]

Investor Relations, Inchcape plc

[phone]

Financial Dynamics (Jonathon Brill/Billy Clegg)

[phone]

www.inchcape.com

Notes to editors

About Inchcape:

Inchcape is a leading, independent international automotive distributor and retailer operating in 26 markets and  has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance, 

Inchcape's vision is to be the world's most customer-centric retailer and represents some of the world's leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people and has scale operations in the UK, Singapore, Australia, Hong Kong, Greece, Belgium and Russia.

 

END

 

 

RAGEZLFFKEBXBBD