Results of AGM

RNS Number : 0026G

Norcros PLC

21 July 2021

 

Norcros plc

("Norcros", the "Group" or the "Company")

Results of AGM

Following the Annual General Meeting held on 21 July 2021, Norcros plc announces the results of the poll vote for each resolution as follows:

Annual General Meeting Resolutions numbered as per Notice of Meeting		For*		Against		Withheld
		Number	%	Number	%	Number
Ordinary Resolutions
1	To receive the audited accounts and the auditor's and Directors' reports for the year ended 31 March 2021	65,816,219	99.67	216,569	0.33	1,200
2	To declare a final dividend of 8.2 pence per ordinary share for the year ended 31 March 2021.	66,033,988	100	0	0	0
3	To approve the Directors' Remuneration Report for the year ended 31 March 2021	45,930,648	69.56	20,097,340	30.44	6,000
4	To re-elect Alison Littley as a director	63,304,082	95.87	2,729,905	4.13	1
5	To re-elect David McKeith as director	64,806,982	98.14	1,227,006	1.86	0
6	To re-elect Nick Kelsall as a director	65,935,548	99.85	98,440	0.15	0
7	To re-appoint BDO LLP as auditor	66,031,805	99.99	683	0.01	1,500
8	To authorise the Audit and Risk Committee of the Board to determine the auditor's remuneration	66,031,805	99.99	1,683	0.01	500
9	To authorise the Directors to allot shares up to the specified limit	65,628,196	99.39	400,292	0.61	5,500
Special Resolutions
10	To empower the Directors to disapply pre-emption rights up to the specified limit.	65,679,152	99.46	354,336	0.54	500
11	To empower the Directors to disapply pre-emption rights up to the specified limit in relation to an acquisition or other specified capital investment	65,682,737	99.47	350,751	0.53	500
12	To grant authority to purchase own shares	66,017,503	99.99	7,800	0.01	8,685
13	To approve calling of general meetings on not less than 14 clear days' notice.	65,913,054	99.82	120,934	0.18	0

*Votes 'For' include those votes giving the Chairman discretion.  The votes withheld are not a vote in law and are not counted in the overall voting figures.

The Company's issued share capital consists of 80,887,039 ordinary 10p shares, each of which carries the right to one vote.

Full details of the resolutions were set out in the Notice of Annual General Meeting which is available on the Company's website at www.norcros.com. 

In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism 

Company's Statement Concerning Resolution 3 (Remuneration Report)

The Remuneration Committee and Board are obviously disappointed with the outcome of the voting on the remuneration report.  Whilst we believe our executive remuneration arrangements are fully aligned with our Directors' Remuneration Policy, which was approved by a significant majority of our shareholders at our 2020 AGM, we place great value on direct engagement with and feedback from our shareholders.  We will continue our active dialogue with shareholders; particularly those who decided to vote against this resolution to understand more fully their views. We will publish an update on that engagement and on any action taken as a result of this within six months of the AGM, in accordance with the UK Corporate Governance Code.

ENQUIRIES:

Norcros plc	Tel: [phone]
Nick Kelsall, Chief Executive Officer
Shaun Smith, Chief Financial Officer
Hudson Sandler	Tel: [phone]
Nick Lyon

For further information, please visit the Company website:  www.norcros.com

 

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