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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Redrow Plc | LSE:RDW | London | Ordinary Share | GB00BG11K365 | ORD 10.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.00 | -0.45% | 665.50 | 668.00 | 671.00 | 674.00 | 665.00 | 665.00 | 6,452,416 | 16:35:14 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gen Contractor-oth Residentl | 2.13B | 298M | 0.9009 | 7.42 | 2.21B |
TIDMRDW
RNS Number : 0939W
Redrow PLC
09 November 2017
9 November 2017
Redrow plc
Result of AGM
Redrow plc (the "Company") announces that at its annual general meeting ("AGM") held earlier today all resolutions put to the meeting, except Resolution 16, were passed by way of a poll and the results of the poll are set out below. For shareholders' information, the current issued share capital of the Company is 369,799,938 shares and shareholders are entitled to one vote per share held.
Votes For Votes Against Votes Total (inc. discretionary) (exc. Votes Withheld) ----- ----------------------- --------------------- -------------------- ---------------------- ---------- ------------ Resolution No. % No. % No. % Votes Votes of shares of shares of of Withheld Total shares ISC*** (inc. Voted Withheld) ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To receive the 2017 Directors' and Auditors' reports and financial 1 statements 296,954,482 99.96 112,428 0.04 297,066,910 80.33 174,827 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To approve the final 2 dividend 297,203,430 99.99 37,600 0.01 297,241,030 80.38 509 297,241,539 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Steve Morgan 3 as a director 291,592,553 98.77 3,623,086 1.23 295,215,639 79.83 2,026,098 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint John Tutte 4 as a director 295,961,647 99.57 1,278,459 0.43 297,240,106 80.38 1,631 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Barbara Richmond 5 as a director 295,128,771 99.29 2,108,610 0.71 297,237,381 80.38 4,356 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Debbie Hewitt 6 as a director 277,598,398 93.39 19,636,905 6.61 297,235,303 80.38 6,434 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Debbie Hewitt 6* as a director 156,890,020 88.88 19,636,905 11.12 176,526,925 70.90 6,434 176,533,359 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Nick Hewson 7 as a director 292,684,464 98.47 4,554,538 1.53 297,239,002 80.38 2,735 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Nick Hewson 7* as a director 171,976,086 97.42 4,554,538 2.58 176,530,624 70.90 2,735 176,533,359 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Sir Michael Lyons as a 8 director 293,212,740 98.65 4,025,738 1.35 297,238,478 80.38 3,259 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint Sir Michael Lyons as a 8* director 172,504,362 97.72 4,025,738 2.28 176,530,100 70.90 3,259 176,533,359 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To appoint Vanda Murray 9 as a director 296,786,226 99.85 443,351 0.15 297,229,577 80.38 12,160 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To appoint Vanda Murray 9* as a director 176,077,848 99.75 443,351 0.25 176,521,199 70.89 12,160 176,533,359 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To re-appoint PricewaterhouseCoopers 10 LLP as Auditors 282,389,430 95.01 14,841,849 4.99 297,231,279 80.38 10,458 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To authorise the Directors to determine the Auditors 11 fees 271,761,284 91.43 25,467,369 8.57 297,228,653 80.38 13,084 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To approve the Directors' remuneration 12 report 294,952,301 99.96 115,267 0.04 295,067,568 79.79 2,174,169 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To approve the Directors' remuneration 13 policy 295,928,671 99.97 88,112 0.03 296,016,783 80.05 1,224,954 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To increase the cap on the level of ordinary remuneration of the Non-Executive 14 Directors 294,942,698 99.61 1,167,393 0.39 296,110,091 80.07 1,129,991 297,240,082 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To give the Directors authority to allot shares 15 in the Company 294,319,154 99.03 2,892,378 0.97 297,211,532 80.37 25,103 297,236,635 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To approve the Rule 9 obligation waiver granted 16** by the Panel 72,542,553 41.32 103,031,845 58.68 175,574,398 47.48 958,961 176,533,359 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To dis-apply pre-emption rights (general 17 power) 297,115,755 99.97 103,375 0.03 297,219,130 80.37 22,607 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To dis-apply pre-emption rights (additional power for financing 18 specific transactions) 293,480,511 98.74 3,736,924 1.26 297,217,435 80.37 24,302 297,241,737 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To authorise the Company to purchase 19 its own shares 289,039,518 97.46 7,522,630 2.54 296,562,148 80.20 671,389 297,233,537 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------ To approve the calling of general meetings on 20 14 days' notice 290,391,672 97.71 6,808,378 2.29 297,200,050 80.37 22,521 297,222,571 ----- ----------------------- ------------ ------- ------------ ------ ------------ -------- ---------- ------------
N.B. A 'vote withheld' is not a vote in law and is not counted in the proportion of votes 'for' or 'against' a resolution. All percentages are calculated to two decimal places
* Following changes to the Listing Rules which took effect in May 2014, Resolutions 6, 7, 8 and 9 must be approved by a simple majority of all shareholders and by a simple majority of the independent shareholders, 6*, 7*, 8* and 9* above sets out the results of the independent shareholder vote.
** Resolution 16 was put to the AGM as a resolution of the independent shareholders of the Company. As a result, 248,991,560 of the ordinary shares in issue were eligible to vote on this Resolution, these shares not being held by the Concert Party (as defined in the notice of AGM).
*** ISC = Issued Share Capital
The payment date of the dividend approved by Resolution 2 will be 14 November 2017.
The Board notes that a majority of independent shareholders have voted against Resolution 16, which sought approval of the terms of the Waiver (as defined in the Notice of AGM). The Waiver would have permitted the Concert Party's percentage interest in the Company's shares to increase from 32.67% to a maximum of 36.30% (in each case representing 120,808,378 ordinary shares) as a result of share buy backs authorised by Resolution 19 without requiring the Concert Party to make a mandatory offer for other shareholders' shares. The Board respects and values the views of shareholders and will assess the feedback it has received to inform future consultations, including ahead of future AGMs.
In compliance with Listing Rule 9.6.2R, copies of Resolutions 14, 15, 17, 18, 19 and 20 have been forwarded to the UK Listing Authority for publication through the National Storage Mechanism where they will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
Results of the poll can also be viewed on the Company's website at http://investors.redrowplc.co.uk/shareholder-information.
Graham Cope
Company Secretary
01244 520044
This information is provided by RNS
The company news service from the London Stock Exchange
END
RAGFSAFIUFWSELF
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November 09, 2017 10:50 ET (15:50 GMT)
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