Result of AGM

RNS Number : 0824P

Bovis Homes Group PLC

23 May 2018

 

Bovis Homes Group PLC - Result of AGM

At the Company's 2018 Annual General Meeting ("AGM") held on 23 May 2018 all resolutions put to the meeting were voted on by poll and were passed by shareholders. The results will be available shortly on the Company's website www.bovishomesgroup.co.uk.

A copy of the relevant resolutions is being submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

For information, the results of the poll voting are given below: 

		Votes for (including discretion)		Votes against		Votes withheld	Total votes cast (excluding votes withheld)
	Resolution	Number of shares	% of shares voted	Number of shares	% of shares voted	Number of shares	Number of shares	% of issued share capital
1	To receive the audited accounts of the Company for the year ended 31 December 2017 and the reports of the directors and auditors.	104,959,050	98.69	1,388,829	1.31	7,899	106,347,879	78.95%
2	To approve the directors' remuneration report.	65,095,214	62.38	39,265,744	37.62	1,994,818	104,360,958	77.47%
3	To declare the final dividend recommended by the directors.	106,354,729	100.00	1,050	0.00	0	106,355,779	78.95%
4	To re-appoint Ian Paul Tyler as a director of the Company.	98,215,584	95.54	4,582,441	4.46	3,544,689	102,798,025	76.31%
5	To re-appoint Margaret Christine Browne as a director of the Company.	95,710,854	90.07	10,557,039	9.93	87,885	106,267,893	78.89%
6	To re-appoint Ralph Graham Findlay as a director of the Company.	95,677,990	91.34	9,068,807	8.66	1,608,981	104,746,797	77.76%
7	To re-appoint Nigel Keen as a director of the Company.	95,703,191	90.04	10,586,258	9.96	66,329	106,289,449	78.90%
8	To re-appoint Michael John Stansfield as a director of the Company.	105,259,294	99.03	1,029,406	0.97	67,079	106,288,700	78.90%
9	To re-appoint Gregory Paul Fitzgerald as a director of the Company.	105,844,084	99.58	445,526	0.42	66,169	106,289,610	78.90%
10	To re-appoint Earl Sibley as a director of the Company.	105,378,498	99.15	900,872	0.85	76,409	106,279,370	78.90%
11	To re-appoint PricewaterhouseCoopers LLP as auditors of the Company.	106,287,563	99.99	6,498	0.01	61,718	106,294,061	78.91%
12	To authorise the directors to determine the remuneration of the auditors.	106,313,713	100.00	4,214	0.00	37,852	106,317,927	78.93%
13	Authority to allot shares.	104,407,363	98.23	1,882,702	1.77	65,714	106,290,065	78.90%
14	To allow a general meeting other than an Annual General Meeting  to be called on not less than 14 clear days' notice.	103,039,014	96.91	3,282,136	3.09	34,629	106,321,150	78.93%
15	Authority to disapply pre-emption rights.	106,227,438	99.88	122,872	0.12	5,469	106,350,310	78.95%
16	Authority to purchase own shares.	104,528,227	98.42	1,679,425	1.58	148,126	106,207,652	78.84%

The issued share capital at the date of the meeting was 134,706,805 ordinary shares of 50p each.

A 'vote withheld' is not a vote in law and has not been counted in the calculation of votes for and against.

Statement regarding voting result

The Board is pleased that all of the resolutions put to shareholders at the AGM were passed. However, the Board recognises that a significant minority opposed resolution 2 being the 2017 Annual Remuneration Report.

Given the unusual backdrop to the remuneration decisions that had to be taken this year (the departure of our previous CEO, the CFO acting as interim CEO, two unsolicited bids, the arrival of a new CEO and the launch of a challenging turnaround plan) the Remuneration Committee consulted extensively with shareholders prior to the AGM on its approach to executive remuneration for 2017/18. This process helped shape the remuneration decisions that were taken.

In reaching its decisions, the Committee's priorities were to ensure that the Directors' remuneration arrangements were fully aligned with the business and incentivised the successful delivery of the Company's challenging turnaround plan, whilst also ensuring that they were fair and reasonable both for the executives and shareholders, in what was an unusual year.

Going forward, the Committee is committed to continuing an open dialogue with all shareholders. It welcomes feedback at all times and would like to thank those shareholders and proxy bodies who participated in its consultation this year.

 

END

 

 

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