Result of AGM

RNS Number : 7811O

Redrow PLC

09 November 2016

 

9 November 2016

Redrow plc

Result of AGM

Redrow plc (the "Company") is pleased to announce that at its annual general meeting ("AGM") held earlier today all resolutions put to the meeting were passed by way of a poll and the results of the poll are set out below.

RESOLUTION	VOTES FOR	%	VOTES AGAINST	%	VOTES TOTAL	% of ISC VOTED	VOTES WITHHELD
1	322,981,686	100.00	4,740	0.00	322,986,426	87.34%	26,083
2	323,036,399	100.00	612	0.00	323,037,011	87.35%	498
3	319,095,143	99.11	2,851,981	0.89	321,947,124	87.06%	1,090,384
4	322,535,943	99.85	494,888	0.15	323,030,831	87.35%	6,678
5	322,243,639	99.76	787,363	0.24	323,031,002	87.35%	5,907
6	316,371,037	97.94	6,661,957	2.06	323,032,994	87.35%	4,515
6*	166,984,992	96.16	6,661,957	3.84	173,646,949	78.78%	4,515
7	322,852,457	99.94	179,662	0.06	323,032,119	87.35%	5,390
7*	173,466,412	99.90	179,662	0.10	173,646,074	78.78%	5,390
8	322,737,025	99.96	122,470	0.04	322,859,495	87.31%	8,919
8*	173,350,980	99.93	122,470	0.07	173,473,450	78.70%	8,919
9	322,887,028	99.96	128,081	0.04	323,015,109	87.35%	21,436
9*	173,500,983	99.93	128,081	0.07	173,629,064	78.77%	21,436
10	320,332,646	99.17	2,693,549	0.83	323,026,195	87.35%	10,739
11	322,995,896	99.99	27,209	0.01	323,023,105	87.35%	13,970
12	319,777,364	99.78	704,392	0.22	320,481,756	86.66%	2,555,752
13	322,148,972	99.73	866,139	0.27	323,015,111	87.35%	22,398
14**	91,680,018	61.69	56,932,011	38.31	148,612,029	40.19%	25,038,860
15	319,951,192	99.05	3,063,926	0.95	323,015,118	87.35%	22,391
16	317,374,718	98.25	5,641,735	1.75	323,016,453	87.35%	21,055
17	321,308,147	99.47	1,717,973	0.53	323,026,120	87.35%	11,388
18	314,865,962	97.48	8,146,706	2.52	323,012,668	87.35%	24,840

N.B         Percentage of Votes cast excludes Withheld Votes and percentages are calculated to two decimal places

* Following changes to the Listing Rules which took effect in May 2014, Resolutions 6, 7, 8 and 9 must be approved by a simple majority of all shareholders and by a simple majority of the independent shareholders, 6*, 7*, 8* and 9* above sets out the results of the independent shareholder vote.

** Resolution 14 was put to the AGM as a resolution of the independent shareholders of the Company. As a result, 220,413,893 of the ordinary shares in issue were eligible to vote on this Resolution, these shares not being held by Steve Morgan or persons with whom Mr Morgan is acting in concert (as defined in the City Code on Takeovers and Mergers) (the "Significant Shareholders").

*** ISC = Issued Share Capital

The payment date of the dividend approved by Resolution 2 will be 11 November 2016.

The Board notes that Resolution 14 relating to the approval of the terms of the Waiver (as defined in the Notice of AGM), received a vote of 61.69% in favour. The Board values and respects the views of shareholders. The Board has already consulted with a number of shareholders and proxy advisor bodies prior to the AGM to discuss their concerns relating to the Waiver. The Board continues to take its responsibility to engage with shareholders seriously and will assess the feedback it has received to inform future consultations.

Assuming: (i) full use by the Company of the authority to buy back ordinary shares granted under Resolution 17; (ii) no participation or other sales of interests in ordinary shares by any Significant Shareholder in connection with any share repurchases or otherwise; and (iii) no other person exercising any options or any other rights to subscribe for ordinary shares, the Significant Shareholders' maximum potential interest in the ordinary shares would be as set out in the following table:

Significant Shareholders' interests in ordinary shares on 9 November 2016	Number of ordinary shares in issue on 9 November 2016	Significant Shareholders' maximum potential interests in ordinary shares
149,386,045 (40.40%)	369,799,938	149,386,045 (44.88%)

 

END

 

 

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