Result of AGM

RNS Number : 3845N

Avon Rubber PLC

29 January 2021

 

29 January 2021

Avon Rubber p.l.c.

(the 'Company')

Result of AGM

Avon Rubber p.l.c. is pleased to announce that, at its Annual General Meeting held today, all the resolutions proposed in the Notice of Meeting were duly passed.

A breakdown of proxy votes lodged prior to the meeting for each resolution is set out below and will also be made available on the Company's website: www.avon-rubber.com

		For	%	Against	%	Withheld
1	To receive the Report and Accounts	23,732,634	99.99	3,119	0.01	199,790
2	To approve the Directors' Remuneration Report	16,787,428	76.30	5,215,543	23.70	1,932,572
3	To approve the Directors' Remuneration Policy	20,985,904	87.69	2,946,955	12.31	2,684
4	To declare a final dividend	23,934,955	99.99	64	0.01	525
5	To re-elect Chloe Ponsonby as a Director	23,932,175	99.99	1,848	0.01	1,521
6	To re-elect Paul McDonald as a Director	23,754,372	99.99	642	0.01	180,530
7	To re-elect Nicholas Keveth as a Director	23,933,445	99.99	578	0.01	1,521
8	To elect Bruce Thompson as a Director	23,920,671	99.96	10,717	0.04	4,156
9	To elect Bindi Foyle as a Director	23,927,810	99.99	3,578	0.01	4,156
10	To elect Victor Chavez CBE as a Director	23,930,746	99.99	642	0.01	4,156
11	To re-appoint KPMG LLP as auditor of the Company	23,932,859	99.99	1,553	0.01	1,132
12	To authorise the Directors to determine the auditors' remuneration	23,934,064	99.99	690	0.01	790
13	To authorise the Company to make political donations (as defined in Companies Act 2006)	23,677,259	98.94	253,891	1.06	4,394
14	To amend the Articles of Association	23,931,973	99.99	1,014	0.01	2,557
15	To authorise the Directors to allot shares	22,695,426	94.83	1,238,496	5.17	1,622
16	To disapply pre-emption rights	23,929,214	99.98	4,608	0.02	1,722
17	To disapply pre-emption rights limited to a specified capital investment/acquisition	23,688,732	98.97	245,961	1.03	850
18	To authorise the Company to purchase its own shares	23,726,220	99.17	199,103	0.83	10,220
19	To authorise the Company to hold General Meetings on short notice	23,604,841	98.62	329,300	1.38	1,403
20	To amend the rules of the Company's Long-Term Incentive Plan	23,184,365	96.88	747,771	3.12	3,406

Notes

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

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

3.  Discretionary proxy votes lodged in favour of a third party have not been included in the "for", "against" or "total" figures. 

4.  At the date of the AGM the issued share capital of the Company is 31,023,292 ordinary shares.

Resolution 2 (Remuneration Report)

The Board notes that while Resolution 2 to approve the Directors' Remuneration Report was passed, a significant minority of shareholders voting (23.7%), chose not to support this resolution.

The Remuneration Committee gave careful consideration to executive remuneration during 2021 and consulted extensively with the Company's largest shareholders and the major proxy voting agencies. The views of all our shareholders are important to us and we will consult further with those shareholders who voted against this resolution to better understand their specific concerns.

The Company will provide an update within six months as required by the Corporate Governance Code 2018.

In accordance with paragraph 9.6.2 of the Listing Rules, a copy of the resolutions passed as special business along with the new articles of association will be submitted as soon as practicable to the National Storage Mechanism and will be available shortly for inspection at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Miles Ingrey-Counter

Company Secretary

LEI: 213800JM1AN62REBWA71

 

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