Auto Trader Group plc Result of AGM (9953M)

TIDMAUTO

RNS Number : 9953M

Auto Trader Group plc

19 September 2019

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 19 September 2019.

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.

The total number of shares on the register at 6pm on 17 September 2019, being those eligible to be voted on at the AGM, was 925,939,092 (excluding treasury shares).

 
                                                                                             % of 
                                                                                            shares 
                                                                                              on 
                                                                                           register 
                                                                                           at 6pm 17 
                                                                             Total votes   September      Votes 
                                       For*                  Against             cast        2019      withheld*** 
                                 No. of        %**       No. of      %**       No. of          %         No. of 
 Resolution                       votes                  votes                  votes                     votes 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 1. To receive the Annual 
  Report and Accounts of the 
  Company for the financial 
  year ended 31 March 2019     789,163,748     99.99       96,444     0.01   789,260,192      85.24%       844,462 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 2. To approve the 
  Directors' 
  Remuneration Report          754,803,958     95.56   35,075,821     4.44   789,879,779      85.31%       224,875 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 3. To declare a final 
  dividend 
  of 4.6 pence per ordinary 
  share for the year ended 
  31 March 2019                789,881,728    100.00        1,379     0.00   789,883,107      85.31%       221,548 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 4. To re-elect Ed Williams 
  as a Director                765,219,916     96.88   24,658,111     3.12   789,878,027      85.31%       226,627 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 5. To re-elect Trevor 
  Mather 
  as a Director                772,754,316     97.83   17,122,338     2.17   789,876,654      85.31%       228,001 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 6. To re-elect Nathan Coe 
  as a Director                771,437,506     97.67   18,441,896     2.33   789,879,402      85.31%         225,253 
                              ------------  --------  -----------  -------  ------------  ----------  -------------- 
 7. To re-elect David Keens 
  as a Director                783,509,103     99.19    6,366,177     0.81   789,875,280      85.31%       229,375 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 8. To re-elect Jill 
  Easterbrook 
  as a Director                756,862,205     95.82   33,013,074     4.18   789,875,279      85.31%       229,375 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 9. To re-elect Jeni Mundy 
  as a Director                782,386,210     99.05    7,489,070     0.95   789,875,280      85.31%       229,375 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 10. To elect Catherine 
  Faiers 
  as a Director                772,220,709     97.76   17,655,945     2.24   789,876,654      85.31%       228,001 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 11. To re-appoint KPMG LLP 
  as auditors of the Company   789,741,522    100.00        1,452     0.00   789,742,974      85.29%       361,681 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 12. To authorise the Board 
  to determine the auditors' 
  remuneration.                789,880,230    100.00        2,877     0.00   789,883,107      85.31%       221,548 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 13. To authorise the 
  Directors 
  to allot shares.             712,893,031     90.25   76,987,328     9.75   789,880,359      85.31%       224,296 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 14. To authorise the 
  partial 
  disapplication of 
  pre-emption 
  rights****                   789,637,889     99.97      239,595     0.03   789,877,484      85.31%       227,170 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 15. To authorise the 
  partial 
  disapplication of 
  pre-emption 
  rights in connection with 
  an acquisition or 
  investment****               726,040,340     91.92   63,837,144     8.08   789,877,484      85.31%       227,170 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 16. To authorise the 
  Company 
  to purchase its own 
  shares****                   780,951,224     98.88    8,879,211     1.12   789,830,435      85.30%       274,219 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 17. To authorise the 
  Company 
  to call general meetings 
  on not less than 14 clear 
  days' notice****             733,038,965     93.28   52,784,248     6.72   785,823,213      84.87%     4,281,442 
                              ------------  --------  -----------  -------  ------------  ----------  ------------ 
 
 

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.

****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 92,936,538 of its ordinary shares, representing 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 2020 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 https://plc.autotrader.co.uk

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 100 Index.

The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 90% prompted brand awareness and attracts circa 50 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). Around 80% of UK automotive retailers advertise on autotrader.co.uk.

For more information, please visit https://plc.autotrader.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

RAGGGUAABUPBGGB

(END) Dow Jones Newswires

September 19, 2019 07:58 ET (11:58 GMT)