Result of AGM

RNS Number : 1503Z

Vesuvius plc

15 May 2019

 

15 May 2019

Vesuvius plc - Result of Annual General Meeting 2019 ("AGM")

Vesuvius plc ("the Company") confirms that, at its AGM held today, each of the resolutions set out in the Notice of Meeting to Shareholders dated 26 March 2019 were passed by the 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 cast3	% of Issued Share Capital2	Votes withheld3
1	Receipt of Annual Report and Accounts	234,680,955	100.00%	0	0.00%	234,680,955	86.53%	247,118
2	Declaration of Final Dividend	234,927,494	100.00%	0	0.00%	234,927,494	86.62%	579
3	Approval of Directors' Remuneration Report	180,165,253	76.91%	54,091,750	23.09%	234,257,003	86.37%	671,069
4	Re-election of Patrick André	232,853,604	99.18%	1,925,453	0.82%	234,779,057	86.57%	149,016
5	Re-election of Christer Gardell	231,207,831	98.48%	3,568,124	1.52%	234,775,955	86.56%	152,118
6	Re-election of Hock Goh	231,960,381	98.80%	2,818,676	1.20%	234,779,057	86.57%	149,016
7	Re-election of Jane Hinkley	233,840,628	99.60%	937,813	0.40%	234,778,441	86.57%	149,632
8	Re-election of Douglas Hurt	233,841,265	99.60%	934,690	0.40%	234,775,955	86.56%	152,118
9	Re-election of Holly Koeppel	195,483,587	83.26%	39,292,953	16.74%	234,776,540	86.57%	151,532
10	Re-election of John McDonough CBE	229,423,818	97.73%	5,320,649	2.27%	234,744,467	86.55%	183,605
11	Re-election of Guy Young	232,098,723	98.86%	2,680,334	1.14%	234,779,057	86.57%	149,016
12	Reappointment of Auditor	234,910,957	99.99%	14,996	0.01%	234,925,953	86.62%	2,120
13	Remuneration of Auditor	234,913,819	100.00%	11,308	0.00%	234,925,127	86.62%	2,946
14	Authority to incur political expenditure	234,456,225	99.87%	315,560	0.13%	234,771,785	86.56%	156,288
15	Authority to allot shares	232,883,967	99.20%	1,881,324	0.80%	234,765,291	86.56%	162,782
16	Special Resolution: Authority to dis-apply pre-emption Rights	234,813,995	99.91%	206,948	0.09%	235,020,943	86.66%	5,938
17	Special Resolution: Additional authority to disapply pre-emption rights only in connection with an acquisition or specified investment	232,233,981	98.86%	2,687,953	1.14%	234,921,934	86.62%	6,138
18	Special Resolution: Authority to purchase own shares	233,863,436	99.71%	685,163	0.29%	234,548,599	86.48%	379,473
19	Special Resolution: Authority to call a general meeting on 14 clear days' notice	227,762,184	96.95%	7,160,076	3.05%	234,922,260	86.62%	5,813

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 of which 7,271,174 shares are held as Treasury shares. Therefore, the total number of voting rights in the Company is 271,213,897.

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.

As there were no resolutions passed at the AGM other than resolutions concerning ordinary business, no copies of resolutions have been submitted to the National Storage Mechanism in accordance with Listing Rule 9.6.2.

Approval of Directors' Remuneration Report

The Board notes that resolution 3, the approval of the Directors' Remuneration Report, was passed with the requisite majority of votes from shareholders, but acknowledges that 23% of votes were cast against the resolution.  The Remuneration Committee will further analyse the voting outcome and will continue to engage with major shareholders to more fully understand their perspectives, as appropriate. We thank those shareholders with whom we have already spoken for explaining their reasons for voting against the resolution.  The Remuneration Committee is committed to continuing dialogue with shareholders.

For further information, please contact:

Henry Knowles, General Counsel and Company Secretary	[phone]
Virginia Skroski, Investor Relations Manager	[phone]

About Vesuvius plc

Vesuvius is a global leader in molten metal flow engineering and technology, serving process industries operating in challenging high-temperature conditions.

We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to improve their manufacturing processes, enhance product quality and reduce energy consumption.  These include flow control solutions, advanced refractories and other consumable products and increasingly, related technical services including data capture.

We have a worldwide presence.  We serve our customers through a network of low-cost manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.

Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.

Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where he or she is recognised, developed and properly rewarded.

Vesuvius plc, 165 Fleet Street, London EC4A 2AE

Registered in England and Wales No. 8217766

LEI: 213800ORZ521W585SY02

www.vesuvius.com

 

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