Results of Shareholder Voting at AGM and GM

RNS Number : 5412C

Old Mutual PLC

28 June 2016

 

Old Mutual plc

Ref 400/16

28 June 2016

Results of shareholder voting at tODAY'S Annual General Meeting AND GENERAL MEETING

At today's Annual General Meeting ("AGM") and General Meeting of Old Mutual plc ("the Company"), all of the resolutions set out in the respective Notices of Meetings were voted on by a poll and were duly passed. Details of the votes cast were as follows:

AGM - ORDINARY RESOLUTIONS

Resolution 1: To receive and adopt the directors' report and audited financial statements of the Group for the year ended 31 December 2015
Votes in favour	% of votes cast	Votes withheld
3,578,462,050	99.38	1,091,430
Votes against	% of votes cast
22,205,263	0.62
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,600,667,313	73.05

Resolution 2(i): To elect Mr B Hemphill as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,589,972,648	99.78	4,013,171
Votes against	% of votes cast
7,772,924	0.22
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,597,745,572	72.99

Resolution 2(ii): To elect Mr T Manuel as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,588,644,089	99.69	1,970,560
Votes against	% of votes cast
11,144,094	0.31
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,599,788,183	73.03

Resolution 2(iii): To re-elect Mr M Arnold as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,591,227,919	99.85	5,179,848
Votes against	% of votes cast
5,350,976	0.15
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,596,578,895	72.96

Resolution 2(iv): To re-elect Ms Z Cruz as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,591,105,904	99.85	5,082,292
Votes against	% of votes cast
5,570,547	0.15
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,596,676,451	72.97

Resolution 2(v): To re-elect Mr A Gillespie as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,590,683,820	99.84	5,250,084
Votes against	% of votes cast
5,824,839	0.16
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,596,508,659	72.96

Resolution 2(vi): To re-elect Ms D Gray as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,585,161,223	99.72	6,485,634
Votes against	% of votes cast
10,111,886	0.28
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,595,273,109	72.94

Resolution 2(vii): To re-elect Ms A Ighodaro as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,590,228,555	99.82	4,921,310
Votes against	% of votes cast
6,608,878	0.18
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,596,837,433	72.97

Resolution 2(viii): To re-elect Ms I Johnson as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,590,612,987	99.79	3,567,600
Votes against	% of votes cast
7,578,156	0.21
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,598,191,143	73.00

Resolution 2(ix): To re-elect Mr R Marshall as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,589,092,137	99.73	3,062,330
Votes against	% of votes cast
9,604,276	0.27
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,598,696,413	73.01

Resolution 2(x): To re-elect Mr N Moyo a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,576,354,460	99.80	18,359,436
Votes against	% of votes cast
7,044,847	0.20
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,583,399,307	72.70

Resolution 2(xi): To re-elect Mr V Naidoo as a director of the Company
Votes in favour	% of votes cast	Votes withheld
2,968,315,562	82.84	18,667,735
Votes against	% of votes cast
614,775,446	17.16
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,583,091,008	72.69

Resolution 2(xii): To re-elect Ms Nyembezi-Heita as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,050,072,046	91.07	252,525,718
Votes against	% of votes cast
299,160,978	8.93
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,349,233,024	67.95

Resolution 2(xiii): To re-elect Mr P O'Sullivan as a director of the Company
Votes in favour	% of votes cast	Votes withheld
3,538,352,982	98.35	3,921,924
Votes against	% of votes cast
59,483,837	1.65
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,597,836,819	72.99

Resolution 3: To re-appoint KPMG LLP as auditors to the Company
Votes in favour	% of votes cast	Votes withheld
3,493,099,553	97.02	1,409,463
Votes against	% of votes cast
107,249,727	2.98
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,600,349,280	73.04

Resolution 4: To authorise the Group Audit Committee to settle the remuneration of the auditors
Votes in favour	% of votes cast	Votes withheld
3,580,637,105	99.45	1,322,174
Votes against	% of votes cast
19,799,464	0.55
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,600,436,569	73.04

Resolution 5: To approve the Directors' Remuneration Report, other than the part containing the Directors' Remuneration Policy, for the year ended 31 December 2015
Votes in favour	% of votes cast	Votes withheld
3,345,897,363	93.17	10,467,799
Votes against	% of votes cast
245,393,581	6.83
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,591,290,944	72.86

Resolution 6: To grant authority to allot shares in the Company
Votes in favour	% of votes cast	Votes withheld
2,684,234,386	74.57	2,066,667
Votes against	% of votes cast
915,457,690	25.43
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,599,692,076	73.03

AGM - SPECIAL RESOLUTIONS

Resolution 7: To grant authority to disapply pre-emption rights in allotting certain equity securities and selling treasury shares
Votes in favour	% of votes cast	Votes withheld
3,003,815,940	83.51	4,639,053
Votes against	% of votes cast
593,303,750	16.49
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,597,119,690	72.98

Resolution 8: To grant the Board authority to repurchase shares by market purchase on the London Stock Exchange
Votes in favour	% of votes cast	Votes withheld
3,578,749,080	99.41	1,636,530
Votes against	% of votes cast
21,373,133	0.59
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,600,122,213	73.04

Resolution 9: To approve contingent purchase contracts relating to purchases of shares on the African stock exchanges where the Company's shares are listed
Votes in favour	% of votes cast	Votes withheld
3,574,837,444	99.34	3,314,116
Votes against	% of votes cast
23,607,183	0.66
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,598,444,627	73.00

GENERAL MEETING - ORDINARY RESOLUTIONS

Resolution 1: To approve the revised Directors' Remuneration Policy
Votes in favour	% of votes cast	Votes withheld
2,933,954,378	81.71	25,437,978
Votes against	% of votes cast
656,580,062	18.29
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,590,534,440	72.84

Resolution 2: To approve the Managed Separation Incentive Plan
Votes in favour	% of votes cast	Votes withheld
2,909,574,894	81.11	28,613,213
Votes against	% of votes cast
677,784,311	18.89
Total votes cast (excluding votes withheld)	% of total shares eligible to vote
3,587,359,205	72.78

Notes to the above tables:

·      Votes in favour include proxy votes where the Chairman was give discretion how to vote.

·      Votes withheld are not counted in the calculation of the proportion of votes for or against a resolution.

·      The total number of shares eligible to vote was 4,929,224,144, being the total number of shares in issue at the close of business on 26 June 2016.

·      In accordance with Listing Rules 9.6.2R and 9.6.3R, the full text of the resolutions passed, other than resolutions concerning ordinary business at the AGM, has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.doc

·      Old Mutual notes the level of votes cast against AGM resolution 6, where the number of votes against is slightly higher than previous years' voting on the equivalent resolution. While this resolution is considered routine for listed companies in the UK, the Company is aware that certain overseas institutional investors, mainly in South Africa, have a policy of not supporting it. The Company will continue to engage with those shareholders to improve understanding and, if possible, allay any such concerns for the future.

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Sizwe Ndlovu                             SA        [phone]

Media

William Baldwin-Charles                         [phone]

                                                            [phone]

Notes to Editors 

Old Mutual provides investment, savings, insurance and banking services to 18.9 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2015, the Group reported adjusted operating profit before tax of £1.7 billion and had £304 billion of funds under management from core operations (excluding Rogge).

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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