Balfour Beatty PLC Result of AGM (5993F)

TIDMBBY

RNS Number : 5993F

Balfour Beatty PLC

18 May 2017

AGM Results

Balfour Beatty plc (the "Company") announces that, at its Annual General Meeting ("AGM") held earlier today, the resolutions set out in the Notice of AGM dated 11 April 2017 were passed following a poll on each resolution.

The results of the polls were as follows:

 
                                             For         Against       Votes 
                                                                      Withheld 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 1: To adopt the 
  Directors' Report and Accounts 
  for the year ended 31 December 
  2016                                   515,578,458       328,378   10,912,986 
                                            (99.94%)       (0.06%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 2: To approve 
  the Directors' Remuneration 
  Report for the year ended 
  31 December 2016                       509,605,262    17,155,440       59,119 
                                            (96.74%)       (3.26%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 3: To approve 
  the Directors' Remuneration 
  Policy                                 407,216,825   120,392,331       81,587 
                                            (77.18%)      (22.82%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 4: To declare 
  a final dividend on the 
  ordinary shares of the Company         526,815,105         3,018        1,699 
                                           (100.00%)       (0.00%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 5: To re-elect 
  Mr P S Aiken AM as a Director          510,242,287     6,880,522    9,697,012 
                                            (98.67%)       (1.33%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 6: To re-elect 
  Dr S R Billingham as a Director        516,541,658    10,209,617       68,547 
                                            (98.06%)       (1.94%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 7: To re-elect 
  Mr S J Doughty CMG as a 
  Director                               525,078,920     1,668,277       72,625 
                                            (99.68%)       (0.32%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 8: To re-elect 
  Mr I G T Ferguson CBE as 
  a Director                             517,424,417     2,417,558    6,977,847 
                                            (99.53%)       (0.47%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 9: To re-elect 
  Mr P J Harrison as a Director          525,213,571     1,537,853       68,070 
                                            (99.71%)       (0.29%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 10: To re-elect              520,135,803     6,612,733 
  Mr L M Quinn as a Director                (98.74%)       (1.26%)       71,286 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 11: To reappoint             524,988,434     1,758,919 
  KPMG LLP as auditor                       (99.67%)       (0.33%)       72,469 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 12: To authorise 
  the Audit and Risk Committee 
  of the Board to determine 
  the remuneration of the 
  auditor                                525,614,171     1,184,316       21,335 
                                            (99.78%)       (0.22%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 13: To authorise 
  the Company and its UK subsidiaries                   11,561,763 
  to incur political expenditure         515,210,148       (2.19%)       47,911 
                                            (97.81%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 14: To authorise 
  the Directors to allot shares          510,483,612    16,300,906       35,304 
                                            (96.91%)       (3.09%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 15: To authorise 
  the Directors to allot shares 
  for cash on a non pre-emptive 
  basis*                                 517,676,594     9,083,349       59,879 
                                            (98.28%)       (1.72%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 16: To renew 
  the authority for the Company                          4,384,013 
  to purchase its own ordinary                               (0.84 
  and preference shares*                 518,903,315            %)    3,532,493 
                                            (99.16%) 
--------------------------------------  ------------  ------------  ----------- 
 Resolution 17: To authorise 
  the Company to hold meetings, 
  other than an Annual General 
  Meeting, on 14 clear days'             498,168,262 
  notice*                                   (94.57%)    28,624,762       26,797 
                                                           (5.43%) 
--------------------------------------  ------------  ------------  ----------- 
 

* Special resolution

The Remuneration Committee notes the voting on Resolution 3, the binding vote on the Directors' Remuneration Policy.

The Group actively engages with its shareholders and believes that the Remuneration Policy changes are necessary, appropriate and in their best interests. Phase One of the Build to Last transformation programme has created a solid foundation for Balfour Beatty's future profitable growth, but there remains much to be done to achieve the Group's full potential value and the new Policy aligns with that goal. The Committee will ensure that implementation of the Policy, from target-setting to incentive awards, focuses on that objective and will continue to listen carefully to shareholders' views and consult on any material changes.

Notes:

   1.       The percentages above are rounded to two decimal places. 

2. A vote withheld is not a vote in law and is not counted in the calculation of votes "For" and

"Against" a resolution.

3. The total number of Ordinary Shares of 50p each in the Company in issue at 6.00 pm on 16 May

2017 was 689,739,619, each carrying one vote.

   4.       Resolutions 15 to 17 were each passed as Special Resolutions. 

In accordance with Listing Rule 9.6.2R, copies of each of Resolutions 13 to 17 will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

18 May 2017

This information is provided by RNS

The company news service from the London Stock Exchange

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May 18, 2017 12:10 ET (16:10 GMT)