AGM Statement

RNS Number : 5183F

Record PLC

28 July 2016

 

RECORD PLC

("Record" or "the Company")

Notification of shareholder resolutions at

2016 Annual General Meeting

in compliance with Listing Rule 9.6.18R

28 July 2016

Record plc held its Annual General Meeting at 10.00 a.m. on 28 July 2016 at Morgan House, Madeira Walk, Windsor SL4 1EP.

All of the thirteen resolutions set out in the Notice of Annual General Meeting ("AGM Notice") sent to shareholders on 28 June 2016 were passed.  The following is a summary of the proxy votes that were received by the Company's registrars:

	Votes For (including Discretionary)		Votes Against		Total votes cast as a % of Record plc issued ordinary shares	Votes Withheld
Resolution	Number of votes	% of votes cast	Number of votes	% of votes cast	%	Number of votes
1.   To receive and adopt the Annual Report & Financial Statements of the Company for the year ended 31 March 2016.	154,114,923	100%	300	0%	69.62%	0
2.   To declare a final dividend of 0.825 pence per ordinary share of £0.00025 in the capital of the Company.	154,114,161	100%	1,062	0%	69.62%	0
3.   To elect Jane Tufnell as an independent director of the Company.	153,817,458	100%	0	0%	69.48%	297,765
4.   To elect Rosemary Hilary as an independent director of the Company.	153,814,158	100%	3,300	0%	69.48%	297,765
5.   To re-elect Neil Record as a director of the Company.	154,102,342	99.99%	12,881	0.01%	69.62%	0
6.   To re-elect Steve Cullen as a director of the Company.	154,102,342	99.99%	12,881	0.01%	69.62%	0
7.   To re-elect Bob Noyen as a director of the Company.	154,102,342	99.99%	12,881	0.01%	69.62%	0
8.   To re-appoint Grant Thornton UK LLP as auditor of the Company and to authorise the directors to agree their remuneration.	154,110,861	100%	1,362	0%	69.61%	3,000
9.   To approve the Directors' Remuneration Report (excluding the Directors' Remuneration Policy) as set out on pages 52 to 64 of the Annual Report & Financial Statements of the Company.	154,105,053	100%	3,300	0%	69.61%	6,870
10. To authorise the Directors to allot Ordinary Shares on the terms set out in the AGM Notice.	151,593,108	98.36%	2,522,115	1.64%	69.62%	0
11. To disapply statutory pre-emption rights on the terms set out in the AGM Notice.	154,086,053	99.98%	29,170	0.02%	69.62%	0
12. To authorise the Company to purchase own shares on the terms set out in the AGM Notice.	154,114,923	100%	300	0%	69.62%	0
13. To permit general meetings of the Company (other than annual general meetings) to be called on not less than 14 clear days' notice.	154,111,923	100%	3,300	0%	69.62%	0

VOTES OF SHAREHOLDERS EXCLUDING CONTROLLING SHAREHOLDERS

	Votes For (including Discretionary)		Votes Against		Total votes cast as a % of Record plc issued ordinary shares	Votes Withheld
Resolution	Number of votes	% of votes cast	Number of votes	% of votes cast	%	Number of votes
3.   To elect Jane Tufnell as an independent director of the Company.	82,836,747	100%	0	0%	37.42%	297,765
4.   To elect Rosemary Hilary as an independent director of the Company.	82,833,447	100%	3,300	0%	37.42%	297,765

As the Company has a controlling shareholder (as defined in the Financial Conduct Authority's Listing Rules), each resolution to elect an independent director (being resolutions 3 and 4) have, under Listing Rule 9.2.2E, been approved by a majority of the votes cast by:

·      the shareholders of the Company as a whole; and

·      the independent shareholders of the Company, that is, all the shareholders entitled to vote on each resolution excluding the controlling shareholder.

Note: A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.

All of the above resolutions were passed on a show of hands.  Each was passed unanimously in favour. Resolutions 11, 12 and 13 were passed as special resolutions.

The number of ordinary shares in issue at the date of this announcement is 221,380,800.

For further information, please contact:

Record plc                                                                                          Tel: [phone]

James Wood-Collins

Steve Cullen

MHP                                                                                                    Tel: [phone]

Nick Denton

Notes to Editors

Record is a specialist currency manager and provider of currency hedging services for institutional clients. Founded in 1983, Record has established a market leading position as a currency manager. Specifically, the Group has a leading position in managing Dynamic Hedging and Currency for Return for institutional clients.

The Group has three principal product lines:

-      Dynamic Hedging, formerly known as Active Hedging, where Record seeks to eliminate the impact of currency movements on elements of clients' investment portfolios that are denominated in foreign currencies when these movements are expected to result in an economic loss to the client, but not to do so when they are expected to result in an economic gain;

-      Passive Hedging, where Record seeks to eliminate fully or partially the economic impact of currency movements on elements of clients' investment portfolios that are denominated in foreign currencies; and

-      Currency for Return, in which Record enters into currency contracts for clients with the objective of generating positive returns.

Record (LSE: REC) was admitted to trading on the main market of London Stock Exchange plc on 3 December 2007.

 

END

 

 

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