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Homeserve Plc (HSV)

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Friday 19 July, 2019

Homeserve Plc

Result of AGM

RNS Number : 0433G
Homeserve Plc
19 July 2019
 

 

 

HOMESERVE PLC

 

RESULTS OF ANNUAL GENERAL MEETING

 

LONDON - 19 July 2019 - HomeServe plc ("HomeServe", "the Company"), the international home repairs and improvements business, announces that all items of business were duly passed on a show of hands at the Annual General Meeting held on Friday 19 July 2019.

 

In accordance with 9.6.2 (R) of the Listing Rules, a copy of the resolutions passed will be submitted to the National Storage Mechanism and will be available for inspection.

 

Proxy votes were as follows.

 

Resolution

For

Percentage of Votes Cast

Against

Percentage of Votes Cast

Withheld

1 Annual Report & Accounts

271,512,703

99.96

30,498

0.01

810,472

2 Remuneration Report

182,688,926

69.29

80,889,568

30.68

8,772,877

3 Dividend

272,353,326

99.97

19

0.00

329

4 Re-elect J M B Gibson

256,598,350

94.19

15,746,889

5.78

7,246

5 Re-elect R Harpin

271,917,507

99.81

455,033

0.17

1,134

6 Re-elect D Bower

271,882,198

99.80

464,977

0.17

6,498

7 Re-elect T Rusin

271,883,855

99.80

462,392

0.17

6,239

8 Re-elect K Cliffe

264,972,733

97.27

7,373,629

2.71

7,311

9 Re-elect S David

271,659,530

99.72

685,645

0.25

7,311

10 Re-elect E Fitzmaurice

271,662,413

99.72

683,758

0.25

6,315

11 Re-elect R McMillan

271,171,190

99.54

1,174,060

0.43

7,533

12 Elect O Grémillon

271,919,159

99.82

422,321

0.16

11,006

13 Re-appoint Auditor

258,330,134

94.83

13,999,419

5.14

24,120

14 Auditor's Remuneration

269,218,571

98.82

3,133,334

1.15

1,768

15 Authority to allot shares

243,613,354

89.42

28,739,492

10.55

827

16 Pre-emption rights

258,737,769

96.88

8,256,069

3.09

5,358,535

17 Additional pre-emption rights

243,712,503

91.25

23,280,116

8.72

5,359,531

18 Purchase of own shares

270,207,853

99.33

1,748,389

0.64

397,431

19 Notice of general meetings

266,871,570

97.96

5,480,884

2.01

329

 

The number of shares in respect of which proxies were received was approximately 300m. The number of shares in issue was 334,597,481.

 

In relation to Resolution 2, the Board welcomes the support it received for the Remuneration Report from a substantial majority of shareholders. However, it recognises that a proportion of shareholders opposed the resolution. 

 

HomeServe is aware that Institutional Shareholder Services (ISS) recommended voting against the Remuneration Report (Resolution 2) due to concerns around the payments made in respect of the exit during the year of former plc directors Martin Bennett and Johnathan Ford.  HomeServe acknowledges that their departures were announced in advance of their respective exit dates (and therefore before the start of their notice periods) but considers that the action taken helped facilitate an orderly handover of responsibilities. The termination payments made were in accordance with HomeServe's remuneration policy. 

 

HomeServe's Remuneration Committee acknowledges the feedback received from shareholders. Feedback will be actively considered when the remuneration policy is reviewed in preparation for the 2020 AGM, when the policy will be submitted to shareholders for approval as required under the triennial review process.

 

In line with HomeServe's commitment to maintaining an open and transparent dialogue with shareholders, the Company will consult with its major shareholders during FY20 to benefit from their input to the review of the remuneration policy and take account of concerns raised around the FY19 Remuneration Report. In accordance with the UK Corporate Governance Code, HomeServe will publish an update on this engagement within six months of the 2019 AGM.

 

 

 

Media enquiries: Tulchan Group

Martin Robinson
Lisa Jarrett-Kerr
[email protected]

+44 207 353 4200

 

HomeServe Investor Relations

 

Miriam McKay - Group Communications and IR Director

[email protected]

+44 7795 062564

 

Simon Lewis - Head of Investor Relations

[email protected]

+44 7970 840694

 

About HomeServe

HomeServe is an international home repairs and improvements business which provides people with access to tradespeople and technology to make home repairs and improvements easy. HomeServe is listed on the London Stock Exchange, with a market capitalisation of £3.9 billion.

 

ENDS


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