Thomas Cook Group PLC AGM Statement (4714W)

TIDMTCG

RNS Number : 4714W

Thomas Cook Group PLC

09 February 2017

9 February 2017

Thomas Cook Group plc

(the "Company")

Results of Annual General Meeting ("AGM")

At the Company's AGM held today at 10.30 am, all resolutions set out in the Notice of Meeting were voted on a poll and were passed by the requisite majorities. The poll results of each resolution are set out in the table below.

 
       RESOLUTION             VOTES         %         VOTES        %         VOTES        % of      VOTES 
                               FOR                   AGAINST                 TOTAL         ISC     WITHHELD 
                                                                                          VOTED 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 1. receive 
  the Annual 
  Report & Accounts 
  2016                    1,284,107,526    99.99        83,555    0.01   1,284,191,081   83.61%      658,814 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 2. declare 
  a final dividend        1,284,667,906   100.00        16,122    0.00   1,284,684,028   83.65%      165,867 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 3. approve 
  the Directors' 
  Remuneration 
  Policy                    994,036,827    78.32   275,169,417   21.68   1,269,206,244   82.64%   15,663,744 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 4. approve 
  the Directors' 
  Remuneration 
  Report                    995,505,485    77.49   289,162,803   22.51   1,284,668,288   83.65%      201,701 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 5. elect Lesley 
  Knox                    1,284,455,580    99.99       154,540    0.01   1,284,610,120   83.64%      239,775 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 6. re-elect 
  Dawn Airey              1,091,949,420    85.00   192,686,633   15.00   1,284,636,053   83.64%      213,842 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 7. re-elect 
  Annet Aris              1,091,230,495    84.94   193,403,134   15.06   1,284,633,629   83.64%      216,266 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 8. re-elect 
  Emre Berkin             1,091,948,182    85.00   192,681,976   15.00   1,284,630,158   83.64%      219,737 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 9. re-elect 
  Peter Fankhauser        1,240,733,421    96.58    43,916,010    3.42   1,284,649,431   83.64%      200,464 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 10. re-elect 
  Michael Healy           1,284,431,545    99.98       197,941    0.02   1,284,629,486   83.64%      220,409 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 11. re-elect 
  Frank Meysman           1,283,326,282    99.90     1,278,324    0.10   1,284,604,606   83.64%      244,569 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 12. re-elect 
  Warren Tucker           1,091,954,231    85.00   192,659,021   15.00   1,284,613,252   83.64%      236,643 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 13. re-elect 
  Martine Verluyten       1,284,392,014    99.99       179,462    0.01   1,284,571,476   83.64%      258,324 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 14. appoint 
  Ernst & Young 
  LLP as Auditor          1,284,432,954    99.98       231,317    0.02   1,284,664,271   83.65%      185,624 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 15. authority 
  to determine 
  the Auditor's 
  remuneration            1,284,286,427    99.97       351,639    0.03   1,284,638,066   83.64%      211,829 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 16. authority 
  to make political 
  donations               1,277,571,675    99.68     4,124,437    0.32   1,281,696,112   83.45%    3,153,783 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 17. authority 
  to allot shares         1,208,749,597    94.10    75,825,320    5.90   1,284,574,917   83.64%      274,978 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 18. approve 
  the 2017 Performance 
  Share Plan              1,221,585,326    95.10    62,919,140    4.90   1,284,504,466   83.63%      345,429 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 19. approve 
  the 2017 Strategic 
  Share Incentive 
  Plan                      864,521,174    67.30   419,976,359   32.70   1,284,497,533   83.63%      352,361 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 20. authority 
  to disapply 
  pre-emption 
  rights                  1,284,120,512    99.97       411,555    0.03   1,284,532,067   83.64%      317,828 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 21. additional 
  authority 
  to disapply 
  pre-emption 
  rights                  1,264,088,917    98.41    20,439,486    1.59   1,284,528,403   83.64%      321,492 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 22. authority 
  for a 14-day 
  notice period 
  for general 
  meetings                1,258,814,400    98.01    25,545,909    1.99   1,284,360,309   83.63%      489,585 
-----------------------  --------------  -------  ------------  ------  --------------  -------  ----------- 
 

Notes:

1. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.

2. The number of EUR0.01 Ordinary shares in issue on 9 February 2017 was 1,535,851,316. Shareholders are entitled to one vote per share.

In accordance with Listing Rule 9.6.3R, a copy of the resolutions passed as Special Business at the AGM have been submitted to the National Storage Mechanism and will be available in due course for viewing at http://www.morningstar.co.uk/uk/NSM

All resolutions presented to shareholders at today's Annual General Meeting were passed with a majority of votes. However, the Board recognises that there was a minority of votes opposing resolutions 3, 4 and 19.

While the Board is pleased that the resolutions have received shareholder approval, it also acknowledges the views of the shareholders who voted against. We have consulted with a number of shareholders and proxy advisor bodies during the year and again in recent weeks to discuss their concerns, in particular relating to the Strategic Share Incentive Plan (SSIP). From the feedback the Board has received in those discussions, it is clear that there remain concerns about the level of information around the possible strategic objectives and the size of the maximum potential award.

As a result, the Remuneration Committee reconfirms its intention not to use the SSIP in the current financial year. If and when it does decide to make any future award under the SSIP, it commits to consult fully with major shareholders and their representatives. This will include discussing the detailed rationale and strategic objectives with shareholders in advance. In addition, the Remuneration Committee commits to ensure that the award is such that the maximum achievable under the SSIP will not exceed the maximum achievable under the PSP.

The Board would like to reassure shareholders that it takes seriously its responsibilities to engage with them and take their views into account. We will assess the feedback we have received to inform future consultations.

Enquiries:

 
 Alice Marsden                Robin Tozer 
  Group General Counsel and    Group Head of Corporate 
  Company Secretary            Communications 
  020 7294 7007                020 7294 7031 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 09, 2017 07:52 ET (12:52 GMT)