Auto Trader Group plc Result of AGM (4408R)

TIDMAUTO

RNS Number : 4408R

Auto Trader Group plc

21 September 2017

Auto Trader Group plc Result of Annual General Meeting

Auto Trader Group plc (LSE: AUTO, "Auto Trader" or the "Company"), the UK's largest digital automotive marketplace, announces the results of the Company's Annual General Meeting ("AGM") held on 21 September 2017.

Each of the resolutions was voted on by way of a poll and the result of each resolution is shown below. All resolutions were passed with the exception of Resolution 6, which was withdrawn with the consent of the meeting at the start of the AGM.

Sean Glithero, having not stood for re-election, ceases to be a director with effect from 21 September 2017 and will leave the business on 29 September 2017.

The total number of shares on the register at 6pm on 19 September 2017, being those eligible to be voted on at the AGM, was 967,278,952 (excluding treasury shares).

 
                                                                                           % of shares 
                                                                                           on register 
                                                                               Total          at 6pm 
                                                                               votes       19 September      Votes 
                                       For*                 Against             cast           2017        withheld*** 
----------------------------  ---------------------  --------------------  ------------  --------------  ------------- 
                                 No. of       %**     No. of votes   %**      No. of            %            No. of 
 Resolution                       votes                                        votes                          votes 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 1. To receive the Annual 
  Report and Accounts 
  of the Company for the 
  financial year ended 
  31 March 2017                816,287,779    99.98        167,814   0.02   816,455,593          84.41%         43,350 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 2. To approve the 
  Directors' 
  Remuneration Report          809,249,426    99.12      7,198,204   0.88   816,447,630          84.41%         51,313 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 3. To declare a final 
  dividend of 3.5 pence 
  per ordinary share for 
  the year ended 31 March 
  2017                         816,497,608   100.00              -      -   816,497,608          84.41%          1,335 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 4. To re-elect Ed Williams 
  as a Director                802,075,963    98.23     14,419,950   1.77   816,495,913          84.41%          3,030 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 5. To re-elect Trevor 
  Mather as a Director         809,460,497    99.14      7,035,416   0.86   816,495,913          84.41%          3,030 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 6. To re-elect Sean                                                  WITHDRAWN 
  Glithero as a Director**** 
----------------------------  ---------------------------------------------------------------------------------------- 
 7. To re-elect David 
  Keens as a Director          815,048,627    99.82      1,445,951   0.18   816,494,578          84.41%          4,365 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 8. To re-elect Jill 
  Easterbrook as a Director    811,592,200    99.40      4,902,378   0.60   816,494,578          84.41%          4,365 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 9. To re-elect Jeni 
  Mundy as a Director          806,500,289    98.78      9,994,289   1.22   816,494,578          84.41%          4,365 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 10. To elect Nathan 
  Coe as a Director            807,438,734    98.89      9,057,179   1.11   816,495,913          84.41%          3,030 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 11. To re-appoint KPMG 
  LLP as auditors of the 
  Company                      816,494,590   100.00              0   0.00   816,494,590          84.41%          4,353 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 12. To authorise the 
  Board to determine the 
  auditors' remuneration.      816,447,618   100.00          2,682   0.00   816,450,300          84.41%         48,643 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 13. To authorise the 
  Directors to allot shares.   759,258,688    92.99     57,238,572   7.01   816,497,260          84.41%          1,683 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 14. To authorise the 
  partial disapplication 
  of pre-emption rights*****   816,251,236    99.97        244,689   0.03   816,495,925          84.41%          3,018 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 15. To authorise the 
  partial disapplication 
  of pre-emption rights 
  in connection with an 
  acquisition or 
  investment*****              751,484,018    92.04     65,011,906   7.96   816,495,924          84.41%          3,018 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 16. To authorise the 
  Company to purchase 
  its own shares*****          801,815,590    98.21     14,632,064   1.79   816,447,654          84.41%         51,288 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 17. To authorise the 
  Company to call general 
  meetings on not less 
  than 14 clear days' 
  notice*****                  783,709,490    95.98     32,785,100   4.02   816,494,590          84.41%          4,353 
----------------------------  ------------  -------  -------------  -----  ------------  --------------  ------------- 
 

NOTES:

* The "For" votes include those giving the Chairman discretion.

** Votes "For" and "Against" are expressed as a percentage of votes received.

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

****Following the announcement on 3 July 2017 of Sean Glithero's intention to leave the Board, Resolution 6 was withdrawn with the consent of the meeting.

*****Denotes Special Resolutions

As previously announced, the Company commenced a rolling programme of share buy-backs on 15 June 2016 and, in reliance on the approval of Resolution 16 at today's AGM, the Company announces that it intends to continue with the share buy-back programme, the purpose of which is to reduce its share capital. The Company's shareholders have generally authorised the Company to make market purchases of up to 97,476,919 of its ordinary shares, which represents 10% of its ordinary shares (excluding treasury shares), subject to minimum and maximum price restrictions. The share buy-back programme will continue under the authority granted by the Company's shareholders at today's AGM on an ongoing basis until the expiry of the authority at the conclusion of the Company's 2018 AGM. The share buy-back programme will be conducted in accordance with the Company's general authority to repurchase shares, Chapter 12 of the UKLA Listing Rules and relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions.

The full text of the resolutions can be found in the Notice of Annual of General Meeting, which is available for inspection at the National Storage Mechanism http://www.hemscott.com/nsm.do and also on the Company's website at http://about-us.autotrader.co.uk/investors

A copy of the resolutions passed under special business (as defined by the listing rules of the UK Listing Authority) will shortly be submitted to the National Storage Mechanism for inspection at http://www.hemscott.com/nsm.do

Claire Baty

Company Secretary

About Auto Trader

Auto Trader Group plc is the UK and Ireland's largest digital automotive marketplace. Auto Trader sits at the heart of the UK's vehicle buying process and its primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 250 Index.

The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 90% prompted brand awareness and attracts circa 60 million monthly cross platform visits each month, with over 70% of visits coming through mobile devices.

The marketplace also has the largest pool of vehicle sellers (listing around 450,000 cars each day). Over 80% of UK automotive retailers advertise on autotrader.co.uk.

For more information, please visit http://about-us.autotrader.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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September 21, 2017 07:00 ET (11:00 GMT)