Kier Group PLC Result of AGM (8790W)

TIDMKIE

RNS Number : 8790W

Kier Group PLC

17 November 2017

KIER GROUP PLC

RESULT OF ANNUAL GENERAL MEETING

Kier Group plc (the "Company") is pleased to announce that all the resolutions proposed at its Annual General Meeting on 17 November 2017 were voted on, and passed, by way of a poll. The results of the poll for each resolution were as follows:

 
         Resolution              Total          %         Votes      % votes     Votes        % votes        Votes 
                                  votes      voted(2)       for       for(3)     against     against(3)    withheld(1) 
                                 validly 
                                 cast(1) 
----------------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To receive the 
       annual report and 
       accounts for the 
       year ended 30 June 
 1     2017                    57,335,503       58.83   56,884,975     99.21      450,528          0.79          4,298 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To approve the 
      directors' 
      remuneration 
 2    policy                   49,993,862       51.30   45,132,928     90.28    4,860,934          9.72      7,311,115 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To approve the 
      directors' 
      remuneration 
      report for the 
      year ended 30 June 
 3    2017                     50,805,384       52.13   32,021,380     63.03   18,784,004         36.97      6,534,417 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To declare a final 
       dividend of 45.0p 
       per share for the 
       year ended 30 June 
 4     2017                    57,338,801       58.83   57,321,517     99.97       17,284          0.03          1,000 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To elect Mr P G 
 5     Cox as a director       57,315,210       58.81   51,900,356     90.55    5,414,854          9.45         24,591 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       J R Atkinson as 
 6     a director              57,314,708       58.81   52,006,810     90.74    5,307,898          9.26         25,093 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mrs 
       C F Baroudel as 
 7     a director              57,313,850       58.81   52,022,633     90.77    5,291,217          9.23         25,951 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mrs 
       A K Bashforth as 
 8     a director              57,326,745       58.82   51,999,367     90.71    5,327,378          9.29         13,056 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       N P Brook as a 
 9     director                57,319,025       58.81   57,043,700     99.52      275,325          0.48         20,776 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       B E J Dew as a 
 10    director                57,314,607       58.81   56,976,069     99.41      338,538          0.59         25,194 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       H J Mursell as 
 11    a director              57,315,895       58.81   56,995,819     99.44      320,076          0.56         23,906 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       N A Turner as a 
 12    director                57,328,257       58.82   57,067,496     99.55      260,761          0.45         11,544 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       C Veritiero as 
 13    a director              57,328,358       58.82   57,087,156     99.58      241,202          0.42         11,443 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       A C Walker as a 
 14    director                57,312,344       58.81   52,008,437     90.75    5,303,907          9.25         27,457 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-elect Mr 
       N P Winser as a 
 15    director                57,327,460       58.82   51,988,410     90.69    5,339,050          9.31         12,341 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To re-appoint PwC 
 16    LLP as auditor          57,336,239       58.83   57,302,096     99.94       34,143          0.06          3,562 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To authorise the 
       directors to agree 
       the remuneration 
 17    of the auditor          57,334,082       58.83   57,304,017     99.95       30,065          0.05          5,719 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To authorise the 
       directors to allot 
 18    shares                  57,313,939       58.81   57,014,156     99.48      299,783          0.52         25,862 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To authorise the 
       directors to disapply 
 19    pre-emption rights      57,307,259       58.80   56,949,012     99.37      358,247          0.63         32,542 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To authorise the 
       directors to disapply 
       pre-emption rights 
       - limited to an 
       acquisition or 
       specified capital 
 20    investment              57,302,346       58.80   54,591,389     95.27    2,710,957          4.73         37,455 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To approve an 
      amendment 
      to the Kier Group 
      plc 2010 Long Term 
 21   Incentive Plan           57,209,305       58.70   56,267,668     98.35      941,637          1.65        130,496 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
      To authorise the 
       Company to call 
       general meetings, 
       other than an annual 
       general meeting, 
       on not less than 
       14 clear days' 
 22    notice                  57,317,407       58.81   54,430,416     94.96    2,886,991          5.04         22,494 
---  -----------------------  -----------  ----------  -----------  --------  -----------  ------------  ------------- 
 

Notes:

1. A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes validly cast.

2. Expressed as a percentage of the total issued share capital on 15 November 2017. The number of ordinary shares in issue on 15 November 2017 was 97,459,951.

   3.      Expressed as a percentage of all votes validly cast (and does not include votes withheld). 

Shareholders are entitled to one vote per share. Resolutions 1 to 18 (inclusive) were passed as ordinary resolutions and resolutions 19 to 22 (inclusive) were passed as special resolutions.

Resolution 2 (directors' remuneration policy) was passed with 90.28% votes in favour.

Resolution 3 (directors' remuneration report) was passed with 63.03% votes in favour.

The Board notes the level of opposition to resolution 3 and understands that a number of shareholders disagreed with the decision of the Remuneration Committee (the 'Committee') to award the Chief Executive an increase of 5% to his base salary from 1 July 2017, noting the pay increases awarded to him in recent years. This year, the Committee reviewed the Chief Executive's base salary in the context of revising the directors' remuneration policy. The Committee is satisfied that the Chief Executive's base salary reflects the progress made against Kier's Vision 2020 strategy and is now competitive. As a result, and having taken into consideration the average increases awarded across the Group, the Committee does not expect to approve significant increases in the base salary of the Chief Executive during the life of the new remuneration policy. If circumstances arise in which the Committee considers such an increase to be appropriate, it will engage with shareholders before making its final decision.

A copy of all resolutions passed, other than those concerning ordinary business, will today be submitted to the National Storage Mechanism in accordance with Listing Rule 9.6.2. These resolutions will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.

The Kier Group plc Legal Entity Identifier is 2138002RKCU2OM4Y7O48.

For enquiries please contact:

Beth Melges

Deputy Company Secretary

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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November 17, 2017 10:35 ET (15:35 GMT)