Result of AGM and Board Composition Update

RNS Number : 3153L

Quilter PLC

12 May 2022

 

12 May 2022

Quilter plc

Quilter plc Board Composition

As previously announced by Quilter plc (the "Company") on 23 March 2022, Glyn Jones stepped down as Chair and as a Director of the Company at the conclusion of the AGM. The search for a permanent successor to Mr Jones is progressing well and further details will be published to the market in due course.

Ruth Markland, Quilter's Senior Independent Director, was appointed as Chair of the Company with effect from the conclusion of the AGM. Tim Breedon, an existing Non-executive Director of the Company, has assumed the role of Senior Independent Director for the duration of Ruth Markland's period as Chair.

Glyn Jones said:

"I have enjoyed greatly the six years that I have spent as Chair of Quilter plc and wish the Quilter Board and the executive leadership team continued success in making Quilter a great business driven by strong values."

Paul Feeney, Chief Executive Officer, commented that:

"Quilter and I have benefitted enormously from the support and advice of Glyn Jones.  His incisive mind and thoughtful, analytical approach has been of tremendous help to me and my management team through a period when we have faced many challenges."

Ruth Markland, Chair, thanked Glyn, saying:

"Glyn has worked tirelessly over the last six years to build and maintain a strong cohesive Board and to ensure that Quilter's management team were supported and challenged in equal measure.  During his tenure, Quilter has matured into a business with firm foundations and a bright future and we thank him for the significant role he has played."

Result of Annual General Meeting 2022

Quilter plc announces that at its Annual General Meeting ("AGM") held earlier today, all the resolutions put to shareholders were passed by the requisite majorities. Resolutions 1 to 16 were passed as ordinary resolutions and resolutions 17 and 18 were passed as special resolutions.

The Company notes that more than 20% of the votes cast on resolution 16 ("To authorise political donations by the Company and its subsidiaries") were against that resolution. 

The Company has actively engaged with our shareholders on this issue since Listing in 2018 and understand their concerns which reflect a difference in market practice for many of our South African shareholders. The Company will continue to engage with shareholders in accordance with the UK Corporate Governance Code and will provide an update on these discussions in due course.

The results of the poll are set out below.

	Resolution	Number of votes cast "For" the resolution	% of votes cast "For" the resolution	Number of votes cast "Against" the resolution	% of votes cast "Against" the resolution	Total number of votes cast	% of issued share capital voted	Number of votes Withheld
1.	To receive the 2021 Report and Accounts	1,286,069,077	99.99	147,775	0.01	1,286,216,852	76.42%	3,274,568
2.	To approve the Remuneration Report (excluding the Directors' Remuneration Policy)	1,232,142,217	95.56	57,226,368	4.44	1,289,368,585	76.61%	122,580
3.	To approve the Directors' Remuneration Policy	1,239,873,807	96.16	49,489,938	3.84	1,289,363,745	76.61%	127,420
4.	To declare a final dividend	1,289,276,877	99.99	144,271	0.01	1,289,421,148	76.61%	70,272
5.	To re-elect Tim Breedon as a Director	1,256,116,127	99.17	10,457,132	0.83	1,266,573,259	75.25%	22,917,906
6.	To re-elect Tazim Essani as a Director	1,288,449,015	99.93	926,908	0.07	1,289,375,923	76.61%	115,242
7.	To re-elect Paul Feeney as a Director	1,286,630,214	99.95	629,802	0.05	1,287,260,016	76.48%	2,231,546
8.	To re-elect Moira Kilcoyne as a Director	1,288,750,288	99.95	625,228	0.05	1,289,375,516	76.61%	115,649
9.	To re-elect Ruth Markland as a Director	1,268,634,915	98.47	19,747,117	1.53	1,288,382,032	76.55%	109,133
10.	To re-elect Paul Matthews as a Director	1,288,460,323	99.93	919,470	0.07	1,289,379,793	76.61%	111,372
11.	To re-elect George Reid as a Director	1,288,755,690	99.95	625,749	0.05	1,289,381,439	76.61%	109,726
12.	To re-elect Chris Samuel as a Director	1,276,874,059	99.03	12,502,976	0.97	1,289,377,035	76.61%	114,130
13.	To re-elect Mark Satchel as a Director	1,288,254,492	99.91	1,132,138	0.09	1,289,386,630	76.61%	104,932
14.	To re-appoint Pricewaterhouse-Coopers LLP as Auditor of the Company	1,287,089,706	99.82	2,297,344	0.18	1,289,387,050	76.61%	104,370
15.	To authorise the Board Audit Committee to determine the remuneration of the Auditor	1,289,222,287	99.99	163,609	0.01	1,289,385,896	76.61%	104,080
16.	To authorise political donations or expenditure by the Company and its subsidiaries	993,011,828	77.50	288,314,973	22.50	1,281,326,801	76.13%	8,163,033
17.	To authorise the Company to purchase its own shares*	1,286,535,916	99.80	2,612,189	0.20	1,289,148,105	76.59%	343,315
18.	To authorise the Company to enter into Contingent Purchase Contracts*	1,286,603,189	99.80	2,548,435	0.20	1,289,151,624	76.59%	339,796

*Special resolution

Notes:

i.  As at 6:30pm on 10 May 2022, the time by which shareholders who wanted to vote at the AGM must have been entered on the Company's register of members, the number of issued shares in the Company was 1,638,123,085 ordinary shares. In accordance with the Company's articles of association, on a poll every member present in person or by proxy had one vote for every share held.

ii.  Votes withheld are not votes in law and therefore have not been counted in the calculation of the proportion of the votes for or against a resolution.

iii.  All percentages are shown to two decimal places.

Pursuant to UK Listing Rule 9.6.2R, copies of all resolutions, other than those concerning ordinary business, passed at the AGM today will be submitted to and available for inspection at the National Storage Mechanism and will shortly be available to view at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .  

The poll results will also be available shortly on the Company's website at plc.quilter.com/gm .

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Enquiries:

Investor Relations: John-Paul Crutchley Keilah Codd	[phone] [phone]
Company Secretary: Patrick Gonsalves	[phone]
Camarco   G eoffrey Pelham-Lane	[phone]

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter oversees £107.2 billion in customer investments (as at 31 March 2022).

It has an adviser and customer offering spanning: financial advice, investment platforms, multi-asset investment solutions, and discretionary fund management.

The business is being reorganised into two segments: Affluent and High Net Worth.

Affluent encompasses the financial planning businesses, Quilter Financial Planning, the Quilter Investment Platform and Quilter Investors, the Multi-asset investment solutions business.

High Net Worth includes the discretionary fund management business, Quilter Cheviot, together with Quilter Private Client Advisers.

 

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