Result of AGM

RNS Number : 4461Y

National Express Group PLC

12 May 2021

 

NATIONAL EXPRESS GROUP PLC

Result of AGM - 12 May 2021

National Express Group PLC (the "Company") held its Annual General Meeting ("AGM") today at 2.00pm. All resolutions at the AGM were put to the meeting on a poll and were passed with the requisite majority. The full results are detailed below. 

As at 6.30pm on Monday 10 May 2021, the time by which shareholders who wanted to vote at the AGM must have been entered on the Company's register of members, there were 614,086,377 ordinary shares of 5 pence each in issue.  Shareholders are entitled to one vote per share on a poll.

Resolution		VOTES FOR		VOTES AGAINST		% of ISC voted	Number of votes withheld
		No. of shares	%	No. of shares	%
1	To receive and adopt the accounts of the Company for the year ended 31 December 2020 and the Directors' and Auditors' Reports thereon	494,939,220	99.99	35,546	0.01	80.60%	397,226
2	To approve the Annual Report on Remuneration (advisory vote only)	278,941,439	59.34	191,156,685	40.66	76.55%	23,473,868
3	To approve the Directors' Remuneration Policy	339,520,411	72.57	128,310,745	27.43	76.18%	27,540,836
4	To re-elect Sir John Armitt as a Director	487,973,999	98.51	7,375,778	1.49	80.66%	22,215
5	To re-elect Jorge Cosmen as a Director	486,667,556	98.25	8,686,333	1.75	80.67%	18,103
6	To re-elect Matthew Crummack as a Director	463,239,152	93.52	32,108,466	6.48	80.66%	24,374
7	To re-elect Chris Davies as a Director	494,656,559	99.86	691,146	0.14	80.66%	24,287
8	To elect Ignacio Garat as a Director	494,750,082	99.88	605,075	0.12	80.67%	16,835
9	To re-elect Karen Geary as a Director	463,252,586	93.52	32,103,665	6.48	80.67%	15,741
10	To re-elect Ana de Pro Gonzalo as a Director	488,153,833	98.55	7,202,418	1.45	80.67%	15,741
11	To re-elect Mike McKeon as a Director	488,154,076	98.55	7,194,468	1.45	80.66%	23,448
12	To re-elect Dr Ashley Steel as a Director	450,564,023	90.96	44,790,366	9.04	80.67%	17,603
13	To re-appoint Deloitte LLP as the Company's auditor	475,531,294	96.00	19,812,211	4.00	80.66%	28,487
14	To authorise the Directors to fix the auditor's remuneration	495,318,620	99.99	28,403	0.01	80.66%	24,969
15	To authorise political donations and expenditure	488,012,887	98.52	7,328,237	1.48	80.66%	30,868
16	To authorise the Directors to allot shares	467,696,609	94.42	27,664,593	5.58	80.67%	10,790
17	To give the Directors power to disapply pre-emption rights - general	471,110,807	96.82	15,470,359	3.18	79.24%	8,790,826
18	To give the Directors power to disapply pre-emption rights - specific	399,580,549	82.12	86,993,143	17.88	79.24%	8,798,300
19	To authorise the Company to purchase its own shares	475,307,789	95.99	19,881,157	4.01	80.64%	183,046
20	To call General Meetings (other than AGMs) on 14 clear days' notice	481,104,836	97.12	14,257,209	2.88	80.67%	9,947

NOTES: 

 1.  The 'For' vote includes those giving the Chairman discretion.

2.  Votes 'Withheld' are not counted in the calculation of the proportion of votes 'For' or 'Against' a resolution.

3.  Resolutions 1 to 16 were ordinary resolutions which required a majority of votes cast to be in favour. 

4.  Resolutions 17 to 20 were special resolutions which required at least 75% of votes cast to be in favour. 

5.  In accordance with Listing Rule 9.6.2R, copies of the resolutions passed as special business will shortly be available for inspection on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism  

6.  The voting results shown above are also available on the Company's website at https://www.nationalexpressgroup.com/investors/agm

The National Express Board is pleased to note that all resolutions were passed with the requisite majority of votes and welcomes the overwhelming support of the Company's shareholders for the majority of the resolutions proposed.

Following consultation with the our major shareholders during 2020 and in the lead up to the AGM, the Board is also grateful for the support of the majority of its shareholders, including its largest shareholders, for the resolutions proposed on the Company's Annual Remuneration Report and its new Directors' Remuneration Policy.

In making its Executive Director pay decisions in 2020 and devising the new Remuneration Policy for Directors, the Board was acutely aware of the sensitivities around executive remuneration in the prevailing environment and balanced these concerns with the need to retain and incentivise a strong management team to continue to steer the Company through the recovery from the Covid pandemic.

We value an open and transparent dialogue with our shareholders and we will continue to engage with them to ensure all views are understood and respected and taken into consideration in applying  the new Directors' Remuneration Policy going forwards. In accordance with the UK Corporate Governance Code we will publish an update on this engagement within six months of the AGM.

END

Company contacts:

Jennifer Myram, Company Secretary

Telephone [phone]

Alice Rivers, Interim Deputy Company Secretary

Telephone [phone]

Notes

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

 

END

 

 

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