Rotork PLC AGM 2017 Result & Statement (7469D)

TIDMROR

RNS Number : 7469D

Rotork PLC

28 April 2017

Rotork plc

AGM Poll Result and Statement on the result of resolution 11 - Remuneration Report and copies of resolutions sent to National Storage Mechanism

Rotork Plc - AGM - 28 April 2017 - Poll Result

 
        Resolution                For (2)              Against(2)           No. of         Total 
                                                                             Votes        Capital 
                                                                          withheld(3)    Instructed 
-------------------------  ---------------------  --------------------  -------------  ------------ 
                              No. of        %        No. of        % 
                               Shares                 Shares 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To receive 
         and adopt 
         the Directors' 
         Report 
         and Accounts 
         and the 
         Auditor's 
         Report 
         thereon 
  1.     for 2016           660,102,248    99.92       500,000    0.08      1,672,191   660,602,248 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To declare 
         a final 
  2.     dividend           662,149,151   100.00             0    0.00        125,288   662,149,151 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To re-elect 
         GB Bullard 
  3.     as a director      634,870,807    95.91    27,074,215    4.09        176,712   661,945,022 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To re-elect 
         JM Davis 
  4.     as a director      630,167,445    95.17    31,965,222    4.83        141,772   662,132,667 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To re-elect 
         PI France 
  5.     as a director      649,691,509    98.15    12,230,378    1.85        148,772   661,921,887 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To re-elect 
         SA James 
  6.     as a director      634,936,497    95.92    27,020,415    4.08        190,212   661,956,912 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To re-elect 
         MJ Lamb 
  7.     as a director      642,948,063    99.38     4,010,934    0.62     15,188,126   646,958,997 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To re-elect 
         LM Bell 
  8.     as a director      634,973,465    95.91    27,049,057    4.09        175,452   662,022,522 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To re-appoint 
         Deloitte 
         LLP as 
         Auditor 
         of the 
  9.     Company            661,817,449    99.97       165,943    0.03        163,692   661,983,392 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To authorise 
         the directors 
         to fix 
         the remuneration 
         of the 
  10.    Auditor            658,049,701    99.98       124,989    0.02      4,099,749   658,174,690 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To approve 
         the Directors' 
         Remuneration 
  11.    Report             446,432,898    67.83   211,717,952   32.17      4,123,588   658,150,850 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To approve 
         the Directors' 
         Remuneration 
  12.    Policy             656,105,809    99.11     5,910,277    0.89        181,888   662,016,086 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To authorise 
         the directors 
         to allot 
  13.    shares             616,001,492    93.05    45,981,342    6.95        215,140   661,982,834 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To enable 
         the directors 
         to allot 
         shares 
         for cash 
         without 
         first 
         offering 
         them to 
         existing 
         shareholders 
         for pre-emptive 
         issues 
         and general 
  14.    purposes*          658,755,283    99.53     3,137,016    0.47        294,585   661,892,299 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To enable 
         the directors 
         to allot 
         shares 
         for cash 
         without 
         first 
         offering 
         them to 
         existing 
         shareholders 
         for acquisitions 
         and other 
         capital 
  15.    investments*       630,427,853    95.22    31,625,051    4.78        221,534   662,052,904 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To authorise 
         the Company 
         to purchase 
         ordinary 
  16.    shares*            654,330,799    98.94     7,043,264    1.06        773,060   661,374,063 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To authorise 
         the Company 
         to purchase 
         preference 
  17.    shares*            661,445,249    99.92       544,163    0.08        148,000   661,989,412 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
        To fix 
         the notice 
         period 
         for general 
  18.    meetings*          590,243,203    89.16    71,771,381   10.84        132,500   662,014,584 
-----  ------------------  ------------  -------  ------------  ------  -------------  ------------ 
 

*Special Resolution

NOTES:

   1   All resolutions were passed. 
   2   Votes "For" and "Against" are expressed as a percentage of votes received. 

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

4 Total number of shares in issue at 6:30pm on 26 April 2017 = 870,115,432 shares. 76.11% of voting capital was instructed.

Resolution 11 Remuneration Report

The Board of directors of Rotork plc recognise the level of opposition for resolution 11, which was passed by 67.83% of shareholders voting in support.

The Remuneration Committee welcomes open dialogue with its shareholders and the changes to the executive directors' salary levels were made following an extensive consultation process with major shareholders. The salary changes were made as part of a package along with changes to the remuneration policy and its implementation. The remainder of the changes, which are set out in the new remuneration policy (for the period 2017-19), were very positively received by shareholders and the Company's new remuneration policy was supported by 99% of shareholders voting. Under the newly approved remuneration policy, future salary increases for the executive directors during the policy period are limited to no higher than the average increase for other employees. In consultation, the majority of shareholders were broadly comfortable with the combined impact of the changes. The new policy has the strong support of shareholders and the Committee will continue to engage with the Company's largest shareholders on matters of significance.

Copies of the following:

   --     Ordinary resolution to authorise the directors to allot shares 
   --     Special resolutions to: 

- Empower the directors to allot shares for cash without first offering to existing shareholders for pre-emptive issues for general purposes

- Empower the directors to allot shares for cash without first offering to existing shareholders for pre-emptive issues for acquisitions and other capital investments

- Authorise the Company to purchase ordinary shares

- Authorise the Company to purchase preference shares

- Fix the notice period for general meetings

being resolutions (other than resolutions concerning ordinary business) passed by the Company at its AGM on 28 April 2017, have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do.

Copies are also available from the Company Secretary, Rotork Plc, Rotork House, Brassmill Lane, Bath, BA1 3JQ

Full details of the poll results for all resolutions are detailed below and can be found at:

http://www.rotork.com/investors/index/agm

Enquiries:

 
FTI Consulting                          Tel: + 44 (0)20 3727 1340 
Nick Hasell / Susanne Yule 
Rotork plc                              Tel: [phone] 
Peter France, Chief Executive 
Jonathan Davis, Finance Director 
Sarah Matthews-DeMers, Director of Strategy and Investor Relations 
 
 
 

28 April 2017

This information is provided by RNS

The company news service from the London Stock Exchange

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April 28, 2017 10:36 ET (14:36 GMT)