AGM Statement

RNS Number : 2454G
Vesuvius plc
04 June 2013
 



 4 June 2013

Vesuvius plc - Result of Annual General Meeting ("AGM")

Vesuvius plc ("the Company") confirms that at its first AGM today, each of the resolutions set out in the Notice of Meeting to Shareholders dated 22 April 2013, was passed by Shareholders.

A poll was conducted on each resolution at the meeting and the results, certified by the scrutineer, Equiniti Limited, were as follows:


RESOLUTIONS

FOR

AGAINST

TOTAL




No. of votes cast1

% of votes cast

No. of votes cast

% of votes cast

No. of votes cast

% of Issued Share Capital2

Votes withheld3

1

Receipt of Annual Report and Accounts

217,355,940

98.80

2,630,774

1.20

219,986,714

78.99%

159,660

2

Declaration of Final Dividend

220,143,452

100.00

1

0.00

220,143,453

79.05%

2,921

3

Approval of Directors' Remuneration Report

212,883,589

96.71

7,246,669

3.29

220,130,258

79.05%

16,116

4

Election of  N Connors

217,811,214

98.94

2,326,580

1.06

220,137,794

79.05%

8,580

5

Election of C Gardell

218,160,461

99.10

1,977,531

0.90

220,137,992

79.05%

8,382

6

Election of J Hewitt

217,799,735

98.94

2,337,765

1.06

220,137,500

79.05%

8,874

7

Election of  J Hinkley

217,802,257

98.94

2,335,710

1.06

220,137,967

79.05%

8,407

8

Election of  J McDonough

216,794,794

99.48

1,134,615

0.52

217,929,409

78.26%

2,216,965

9

Election of  C O'Shea

219,370,452

99.65

767,475

0.35

220,137,927

79.05%

8,447

10

Election of  F  Wanecq

219,368,675

99.65

769,285

0.35

220,137,960

79.05%

8,414

11

Re-appointment of  Auditor

215,298,811

98.79

2,635,121

1.21

217,933,932

78.26%

2,212,442

12

Remuneration of Auditor

217,714,330

98.90

2,427,698

1.10

220,142,028

79.05%

4,346

13

Authority to Allot Shares

210,595,665

95.67

9,540,660

4.33

220,136,325

79.05%

10,049

14

Special Resolution:

Authority to Disapply Pre-emption Rights

220,072,982

99.97

63,343

0.03

220,136,325

79.05%

10,049

15

Special Resolution:

Authority to Purchase Own Shares

220,125,462

99.99

17,054

0.01

220,142,516

79.05%

3,858

16

Authority to Incur Political Expenditure

218,239,857

99.14

1,896,441

0.86

220,136,298

79.05%

10,076

17

Special Resolution:

Authority to Call a General Meeting on 14 clear days' notice

202,517,781

91.99

17,623,785

8.01

220,141,566

79.05%

4,808

Vesuvius issued an Interim Management Statement on 17 May and on 3 June, it announced the completion of the sale of its Precious Metals Processing Division.  

At today's AGM, the Chairman John McDonough said: "As previously announced, up to £30M of the disposal proceeds of €56.8m will be returned to shareholders through an on-market repurchase of shares, with the balance of the net disposal proceeds being used to reduce the Company's existing borrowings.  This transaction is good news for the Precious Metals Processing businesses which are now part of a group wholly dedicated to that industry, and it is an important strategic step for Vesuvius, leaving us focused on our core competence of molten metal engineering, serving the global steel and foundry industries."

No further comments on trading were made at the meeting.

Notes:

1.   Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.

2.   The total number of shares in issue is 278,485,071

3.   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.

4.   All percentages are shown to two decimal places.

This information will also shortly be available to view on the Company's website at: www.vesuvius.com.

In accordance with Listing Rule 9.6.2 a copy of Resolution 17 (Authority for the Company to call a general meeting on 14 clear days' notice) which was passed as special business at the AGM will be submitted to the Financial Conduct Authority National Storage Mechanism and will be available for inspection at www.hemscott.com/nsm.do. A copy of this resolution is also available from the Company Secretary, Vesuvius plc, 165 Fleet Street, London EC4A 2AE, England. In addition, copies of resolutions 13 to 15 and 17 will be filed with Companies House.

Vesuvius plc

165 Fleet Street

London EC4A 2AE

Tel:      +44 (0) 20 7822 0000

Fax:     +44 (0) 20 7822 0100

Web:   www.vesuvius.com

 


This information is provided by RNS
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