Results of 2015 Annual General Meeting

RNS Number : 2250N

Old Mutual PLC

14 May 2015

 



Old Mutual plc

Ref 375/15

14 May 2015

Results of shareholder voting at the 2015 Annual General Meeting AND RETIREMENT OF REUEL kHOZA AS A NON-EXECUTIVE DIRECTOR

At today's Annual General Meeting of Old Mutual plc ("the Company"), all of the resolutions set out in the Notice of Meeting were voted on by a poll and were duly passed. Details of the votes cast were as follows:

ORDINARY RESOLUTIONS

Resolution 1: To receive and adopt the directors' report and audited financial statements of the Group for the year ended 31 December 2014
Votes in favour	% of votes cast	Votes withheld
3,362,358,024	99.92	7,168,752
Votes against	% of votes cast
2,542,862	0.08
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,364,900,886	68.31

Resolution 2: To declare a final dividend for the year ended 31 December 2014 of 6.25p per ordinary share in the capital of the Company on the register at the close of business on 24 April 2015
Votes in favour	% of votes cast	Votes withheld
3,365,138,906	99.99	6,707,343
Votes against	% of votes cast
223,389	0.01
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,365,362,295	68.32

Resolution 3(i): To elect Mr P Hanratty as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,355,257,474	99.78	9,371,200
Votes against	% of votes cast
7,440,964	0.22
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,362,698,438	68.26

Resolution 3(ii): To elect Ms I Johnson as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,355,754,583	99.84	10,802,496
Votes against	% of votes cast
5,512,416	0.16
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,266,999	68.23

Resolution 3(iii): To elect Mr V Naidoo as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,336,396,082	99.24	10,277,762
Votes against	% of votes cast
25,393,651	0.76
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,789,733	68.24

Resolution 3(iv): To re-elect Mr M Arnold as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,357,223,432	99.88	10,728,277
Votes against	% of votes cast
4,117,786	0.12
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,341,218	68.23

Resolution 3(v): To re-elect Ms Z Cruz as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,357,085,769	99.87	10,612,167
Votes against	% of votes cast
4,371,559	0.13
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,457,328	68.24

Resolution 3(vi): To re-elect Mr A Gillespie as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,262,266,876	97.04	10,421,480
Votes against	% of votes cast
99,381,139	2.96
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,648,015	68.24

Resolution 3(vii): To re-elect Mr D Gray as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,244,622,296	96.93	24,703,575
Votes against	% of votes cast
102,742,623	3.07
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,347,365,919	67.95

Resolution 3(viii): To re-elect Ms A Ighodaro as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,357,544,273	99.87	10,144,071
Votes against	% of votes cast
4,381,151	0.13
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,925,424	68.25

Resolution 3(ix): To re-elect Mr R Marshall as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,353,970,255	99.75	9,716,245
Votes against	% of votes cast
8,382,995	0.25
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,362,353,250	68.26

Resolution 3(x): To re-elect Mr N Moyo as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,339,787,743	99.74	23,647,921
Votes against	% of votes cast
8,633,830	0.26
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,348,421,573	67.97

Resolution 3(xi): To re-elect Ms Nyembezi-Heita  as a director of the Company
Votes in favour	% of votes cast	Votes withheld
2,951,201,471	96.46	312,621,041
Votes against	% of votes cast
108,245,982	3.54
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,059,447,453	62.11

Resolution 3(xii): To re-elect Mr P O'Sullivan as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,259,074,115	96.97	11,116,408
Votes against	% of votes cast
101,878,971	3.03
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,360,953,086	68.23

Resolution 3(xiii): To re-elect Mr J Roberts as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,355,831,729	99.82	10,208,594
Votes against	% of votes cast
6,029,172	0.18
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,860,901	68.25

Resolution 4: To re-appoint KPMG LLP as auditors to the Company
Votes in favour	% of votes cast	Votes withheld
3,330,154,928	99.01	8,774,389
Votes against	% of votes cast
33,140,177	0.99
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,363,295,105	68.27

Resolution 5: To authorise the Group Audit Committee to settle the remuneration of the auditors
Votes in favour	% of votes cast	Votes withheld
3,358,894,350	99.85	8,039,060
Votes against	% of votes cast
5,133,444	0.15
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,364,027,794	68.29

Resolution 6: To approve the Directors' Remuneration Report, other than the part containing the Directors' Remuneration Policy, for the year ended 31 December 2014
Votes in favour	% of votes cast	Votes withheld
3,166,003,379	94.21	11,506,850
Votes against	% of votes cast
194,559,265	5.79
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,360,562,644	68.22

Resolution 7: To grant authority to allot shares in the Company
Votes in favour	% of votes cast	Votes withheld
2,739,866,503	81.43	7,520,152
Votes against	% of votes cast
624,682,840	18.57
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,364,549,343	68.30

SPECIAL RESOLUTIONS

Resolution 8: To grant authority to disapply pre-emption rights in allotting certain equity securities and selling treasury shares
Votes in favour	% of votes cast	Votes withheld
3,079,612,781	91.67	12,590,483
Votes against	% of votes cast
279,866,374	8.33
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,359,479,155	68.20

Resolution 9: To grant the Board authority to repurchase shares by market purchase on the London Stock Exchange
Votes in favour	% of votes cast	Votes withheld
3,362,235,686	99.96	8,517,767
Votes against	% of votes cast
1,315,310	0.04
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,363,550,996	68.28

Resolution 10: To approve contingent purchase contracts relating to purchases of shares on the African stock exchanges where the Company's shares are listed
Votes in favour	% of votes cast	Votes withheld
3,360,698,357	99.96	10,101,736
Votes against	% of votes cast
1,269,431	0.04
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,361,967,788	68.25

Notes to the above table:

·      Votes in favour include proxy votes where the Chairman was give discretion how to vote.

·      Votes withheld are not counted in the calculation of the proportion of votes for or against a resolution.

·      The total number of shares eligible to vote was 4,926,156,092, being the total number of shares in issue at the close of business on 12 May 2015.

·      In accordance with Listing Rules 9.6.2R and 9.6.3R, the full text of the resolutions passed, other than resolutions concerning ordinary business, has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.doc

·      Old Mutual notes the level of votes cast against resolution 7, which is broadly in line with previous years' voting on the equivalent resolution. While this resolution is considered routine for public companies in the UK, the Company is aware that certain overseas institutional investors, mainly in South Africa, have a policy of not supporting it. The Company will continue to engage with those shareholders to improve understanding and, if possible, allay any such concerns for the future.

As previously announced, Reuel Khoza stood down as a non-executive director of the Company at today's AGM, having recently retired as Chairman of Nedbank Group Limited.

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Sizwe Ndlovu                             SA        [phone]

Media

William Baldwin-Charles                          [phone]

                                                             [phone]

Notes to Editors

Old Mutual provides investment, savings, insurance and banking services to more than 17 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

END

 

 

RAGPKQDBNBKDAPD