Result of AGM

RNS Number : 8957L

Inchcape PLC

13 May 2010

 



Inchcape plc (the "Company")
13 May 2010

Result of AGM

The Company announces that all resolutions proposed at the annual general meeting of the Company held earlier today were passed.

Among the resolutions passed were resolutions (i) to consolidate the existing ordinary shares of one penny each in the capital of the Company (the "Existing Ordinary Shares") in issue or held in Treasury into new ordinary shares of 10 pence each in the capital of the Company (the "New Ordinary Shares") on the basis of one New Ordinary Share for 10 Existing Ordinary Shares; and (ii) to adopt new articles of association. 

The record time for the share consolidation is close of business on 14 May 2010 and application has been made for the Company's listing to be amended so that the New Ordinary Shares are admitted to the Official List and to trading on the main market of the London Stock Exchange with effect from 8.00 a.m. Monday, 17 May 2010.  We will release a further announcement to confirm when this has taken place.

With the exception of the resolutions referred to in the above paragraph, all of the resolutions put to the meeting related to ordinary AGM business.  Copies of the resolutions referred to in the above paragraph have been forwarded to the FSA for publication through the document viewing facility, in accordance with LR 9.6.2.  

Details of the votes cast on all resolutions are set out below and will also be available on the Company's website: www.inchcape.com

Resolution	Votes For	% For	Votes Against	% Against	Votes Withheld
1. To receive the Accounts and Directors' and Auditors Reports	3,416,492,475	98.98	35,176,624	1.02	194,779,773
2. To approve the Board Report on Remuneration	3,080,350,497	88.87	385,752,819	11.13	180,336,556
3. To elect Alison Cooper as a Director	3,621,894,864	99.78	7,827,128	0.22	16,726,881
4. To elect John McConnell as a Director	3,628,872,172	99.98	869,730	0.02	16,706,971
5. To elect Nigel Northridge as a Director	3,450,876,052	99.55	15,556,431	0.45	180,016,390
6. To reappoint PricewaterhouseCoopers LLP as Auditors	3,570,561,406	98.90	39,538,084	1.10	36,349,382
7. To authorise the Directors to determine the Auditors' remuneration	3,593,623,460	99.00	36,240,610	1.00	16,584,803
8. To consolidate the ordinary shares	3,623,370,594	99.97	1,067,751	0.03	22,012,028
9. To authorise the Directors to allot relevant securities pursuant to section 560(1) of the Companies Act 2006	3,271,320,820	97.84	72,080,372	2.16	303,047,680
10. To empower the Directors to disapply pre-emption rights pursuant to Section 561 of the Companies Act 2006	3,234,526,776	89.02	398,791,465	10.98	13,130,632
11. To authorise the Company to make market purchases of its ordinary shares up to 10.0% of its issued share capital	3,633,211,298	99.99	337,656	0.01	12,899,919
12. To amend the articles of association	3,569,687,630	98.49	54,726,185	1.51	22,035,058
13. Notice of Meetings	3,541,642,125	97.78	80,378,831	2.22	24,427,917

Ends

Group Communications, Inchcape plc
[phone]

Investor Relations, Inchcape plc
[phone]

Financial Dynamics  (Jonathon Brill/Billy Clegg)
[phone]

www.inchcape.com

Notes to editors

About Inchcape:

Inchcape is a leading, independent international automotive distributor and retailer operating in 26 markets and   has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, and finance and insurance.  

Inchcape's vision is to be the world's most customer-centric retailer and represents some of the world's leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs  around  15,000 people and has scale operations in the UK, Singapore, Australia, Hong Kong, Greece, Belgium and Russia.

 

END

 

 

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