Balfour Beatty PLC Result of AGM (5623Y)

TIDMBBY

RNS Number : 5623Y

Balfour Beatty PLC

13 May 2021

Balfour Beatty plc (the 'Company')

AGM Results

13 May 2021

Balfour Beatty plc announces that, at its Annual General Meeting ('AGM') held on 13 May 2021, the resolutions set out in the Notice of AGM dated 14 April 2021 were passed following a poll on each resolution.

Resolutions 1 to 16 were passed as Ordinary Resolutions and Resolutions 17 to 20 were passed as Special Resolutions. The table below details votes cast on each resolution.

 
                            Votes For     %       Votes Against   %       Votes Total   Votes        % of ISC 
                                                                                         Withheld     Voted (excluding 
                                                                                                      shares 
                                                                                                      held in 
                                                                                                      Treasury) 
 Resolution 1: 
  To adopt the Directors' 
  Report 
  and Accounts for the 
  year ended 
  31 December 2020          500,558,030   99.99          61,003    0.01   500,619,033   40,578,193               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 2: 
  To approve the 
  Directors' Remuneration 
  Report for the year 
  ended 31 
  December 2020             491,532,925   96.91      15,686,233    3.09   507,219,158   33,978,068               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 3: 
  To declare a final 
  dividend 
  of 1.5p per ordinary 
  share 
  of the Company            541,161,090   99.99          13,043    0.01   541,174,133       23,093               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 4: 
  To re-elect Mr P S 
  Aiken AM 
  as a Director             417,152,141   77.99     117,708,516   22.01   534,860,657    6,336,569               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 5: 
  To re-elect Dr S R 
  Billingham 
  CBE as a Director         532,998,578   98.49       8,158,220    1.51   541,156,798       40,428               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 6: 
  To re-elect Mr S J 
  Doughty 
  CMG as a Director         532,911,732   98.48       8,246,967    1.52   541,158,699       38,527               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 7: 
  To re-elect Mr P J 
  Harrison 
  as a Director             540,511,511   99.88         650,180    0.12   541,161,691       35,535               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 8: 
  To re-elect Mr M A 
  Lucki as 
  a Director                540,452,320   99.87         698,962    0.13   541,151,282       45,944               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 9: 
  To re-elect Ms B J 
  Moorhouse 
  as a Director             533,546,571   98.59       7,609,596    1.41   541,156,167       41,059               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 10: 
  To re-elect Mr L M 
  Quinn as 
  a Director                528,340,632   97.63      12,822,188    2.37   541,162,820       34,406               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 11: 
  To re-elect Ms A 
  Drinkwater 
  as a Director             527,802,820   97.53      13,361,920    2.47   541,164,740       32,486               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 12: 
  To reappoint KPMG LLP 
  as auditor                507,107,781   93.72      34,001,593    6.28   541,109,374       87,852               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 13: 
  To authorise the 
  Directors 
  to determine the 
  remuneration 
  of the auditor            541,110,070   99.99          52,360    0.01   541,162,430       34,796               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 14: 
  To authorise the 
  Company and 
  its UK subsidiaries to 
  incur 
  political expenditure     527,665,296   97.51      13,491,950    2.49   541,157,246       39,980               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 15: 
  To authorise the 
  Directors 
  to allot shares           526,581,017   97.30      14,593,694    2.70   541,174,711       22,515               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 16: 
  To adopt the rules of 
  the Balfour 
  Beatty Performance 
  share Plan 
  2021                      505,974,187   93.51      35,138,805    6.49   541,112,992       84,234               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 17: To adopt 
  the 
  Articles of Association   541,075,823   99.99          54,195    0.01   541,130,018       67,208               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 18: 
  To authorise the 
  Directors 
  to allot shares for 
  cash on 
  a non pre-emptive basis   535,288,057   98.92       5,866,472    1.08   541,154,529       42,697               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 19: 
  To renew the authority 
  for 
  the Company to purchase 
  its 
  own ordinary shares       505,346,756   93.67      34,144,164    6.33   539,490,920    1,706,306               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 Resolution 20: 
  To authorise the 
  Company to 
  hold meetings, other 
  than an 
  Annual General Meeting, 
  on 
  14 clear days' notice     522,521,325   96.56      18,628,888    3.44   541,150,213       47,013               81.02 
                           ------------  ------  --------------  ------  ------------  -----------  ------------------ 
 

Notes:

   1.    The "for" votes include those giving the Chairman of the AGM discretion. 

2. Votes "for" and "against" are expressed as a percentage of the total votes cast (excluding votes withheld).

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

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

5. Votes withheld are included in the percentage of issued share capital ('ISC') voted (excluding shares held in Treasury) calculation.

6. The total number of Ordinary Shares of 50p each in the Company in issue, excluding 21,724,180 treasury shares registered in the Company's name, at close of business on 11 May 2021 and the number used for the percentage of ISC voted was 668,015,439.

Resolution 4 was passed, with a majority 77.99% shareholder support for the re-election of Philip Aiken AM as a Director of the Company. The Board notes the result of this resolution which we understand has arisen due to concerns about board diversity. We engaged widely with shareholders during the year and will continue to do so. We will publish an update on this engagement, in accordance with the UK Corporate Governance Code, within six months of the 2021 AGM.

In accordance with Listing Rule 9.6.2R, copies of each of Resolutions 14 to 20 will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Please do not hesitate to contact [e-mail] should you have any queries regarding this announcement. Please note that this email address will be deactivated one week after conclusion of the AGM.

Balfour Beatty plc's Legal Entity Identifier is CT4UIJ3TUKGYYHMENQ17.

General enquiries:

Contact and telephone number for queries /

Duly authorised officer of issuer responsible for making notification:

Tracey Wood, Group General Counsel and Company Secretary

Tel. [phone]

Analyst/investor enquiries:

Angus Barry

Tel. [phone]

[e-mail]

Media enquiries:

Antonia Walton

Tel. [phone]

[e-mail]

Notes to editors:

-- Balfour Beatty is a leading international infrastructure group with 26,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.

-- We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

-- Over the last 112 years we have created iconic buildings and infrastructure all over the world including: the GBP1.5 billion A14 improvement scheme - Britain's biggest road project; Hong Kong's HK$5.5 billion world-class harbour theatre project for the West Kowloon Cultural District Authority; and the 12.5 mile $429 million North Metro Commuter Rail line in Colorado, US.

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May 13, 2021 07:00 ET (11:00 GMT)