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Ricardo PLC (RCDO)

  Print          Annual reports

Thursday 11 November, 2021

Ricardo PLC

Result of AGM

RNS Number : 1044S
Ricardo PLC
11 November 2021
 

 

 

Ricardo plc

 

 Result of AGM


11 November 2021

 

Ricardo plc - Results of Annual General Meeting

 

Ricardo plc announces that all resolutions proposed at its Annual General Meeting held on 11 November 2021 were duly passed.

 

Details of the proxy voting instructions, lodged prior to the meeting, are set out below:  

 

Resolution

For

%

Discretion

%

Against

%

Withheld

1

To receive and adopt the 2021 Report and Accounts

43,901,762

99.98

232

0.01

2,466

0.01

0

2

To approve the final dividend

43,902,796

99.98

232

0.01

1,401

0.01

31

3

To re-appoint KPMG LLP as auditors

43,897,821

99.98

232

0.01

5,807 

0.01

600

4

To authorise Audit Committee to determine Auditor remuneration

43,894,689 

99.97

232

0.01

8,939 

0.02

600

5

To elect Graham Ritchie as a director

43,881,164 

99.95

6,232

0.01

16,233 

0.04

831

6

To re-elect Russell King as a director

43,235,223 

98.48

6,232

0.01

662,174

1.51

831

7

To re-elect Jack Boyer as a director

43,238,413 

98.49

6,232

0.01

656,484 

1.50

3,331

8

To re-elect William Spencer as a director

43,235,123 

98.49

6,232

0.01

658,945 

1.50

4,160 

9

To re-elect Sir Terry Morgan as a director

43,232,609 

98.48

6,232

0.01

661,088

1.51

4,531 

10

To re-elect Ian Gibson as a director

43,887,670 

99.97

6,232

0.01

9,727

0.02

831 

11

To re-elect Laurie Bowen as a director

42,671,168

97.20

6,232

0.01

1,223,728 

2.79

3,332 

12

To re-elect Malin Persson as a director

37,977,575

86.51

6,232

0.01

5,917,322 

13.48

3,331 

13

To approve the Directors' Remuneration Report

28,346,318 

64.56

232

0.01

15,550,653 

35.43

7,257

14

To approve the Ricardo 2021 Deferred Bonus Plan

43,855,410 

99.93

232

0.01

26,981 

0.06

21,837

15

To grant the directors authority to allot relevant securities

33,977,733 

77.77

232

0.01

9,704,306 

22.22

222,189

16

To approve the disapplication of pre-emption rights

34,000,375 

77.83

232

0.01

9,681,779 

22.16

222,074

17

To authorise the Company to make market purchases of ordinary shares

43,878,744 

99.93

232

0.01

24,384

0.06

1,100 

18

To approve notice period for certain general meetings

43,763,237

99.67

232

0.01

140,007

0.32

984

 

A vote withheld is not a vote in law and is not counted in the calculation of proportion of votes "For" or "Against" a resolution.

 

The total number of ordinary shares in issue as at 9 November 2021 was 62,218,280, of these 43,904,460 including votes withheld (70.56%) were voted.

 

 

 

 

The Board has taken careful note that 35.43 per cent of the votes were cast against Resolution 13, the Directors' Remuneration Report. The Chair of the Remuneration Committee engaged with our largest shareholders before the 2021 Annual General Meeting to reiterate the reasons given in the Directors' Remuneration Report for the leaving arrangements of Ricardo's former Chief Executive Officer and will talk again with shareholders to understand fully their reasons for voting against the Resolution.

In addition, the Board has noted 22.22 per cent and 22.16 per cent of the votes were cast against Resolutions 15 and 16 respectively relating to the authority to allot shares and the disapplication of pre-emption rights.  The Chief Financial Officer engaged with our largest shareholders before the 2021 Annual General Meeting to reiterate the reasons given in the Annual Report for the equity raise conducted in November 2020 and will talk again with shareholders to understand fully their reasons for voting against these Resolutions.

In accordance with Listing Rule 9.6.2R, a copy of the resolutions, other than those concerning ordinary business, passed by the Company at the AGM held on 11 November 2021, has been submitted to the National Storage Mechanism and will shortly be available for inspection at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

 

The Ricardo plc LEI number is 213800ZNYAY35F4XB814

For further information contact:

 

The Company Secretary, Patricia Ryan  01273 794776

 

.

 

 

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