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RDW Redrow Plc

665.50
-3.00 (-0.45%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Redrow PLC Result of AGM (0939W)

09/11/2017 3:50pm

UK Regulatory


Redrow (LSE:RDW)
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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

(END) Dow Jones Newswires

November 09, 2017 10:50 ET (15:50 GMT)

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