Cobham plc Result of AGM (1434X)

TIDMCOB

RNS Number : 1434X

Cobham plc

25 April 2019

Cobham plc LEI 213800A41R9NL49E5632

Cobham plc

Annual General Meeting held on 25 April 2019

Cobham plc is pleased to announce that at the AGM held today Thursday 25 April 2019, at 2.00pm, each resolution was passed on a poll.

The votes cast were as follows:

 
 Resolution                       Total Votes       %   Total Votes       %   Total Votes   Votes Withheld 
                                      FOR                 AGAINST                 Cast 
 
      Report & Accounts 
 1     2018                        50,053,160   99.98         7,706    0.02    50,060,866        1,379,927 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
 2    Remuneration Report          43,055,056   97.32     1,183,836    2.68    44,238,892        7,201,873 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Appointment Marion 
 3     Blakey                      51,290,526   99.73       139,453    0.27    51,429,979           10,794 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Re-appointment Michael 
 4     Wareing                     49,793,931   96.82     1,633,784    3.18    51,427,715           13,053 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Re-appointment John 
 5     McAdam                      50,973,626   99.12       453,857    0.88    51,427,483           13,288 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Re-appointment Alison 
 6     Wood                        44,175,418   98.54       655,567    1.46    44,830,985        6,609,785 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Re-appointment René 
 7     Médori                 42,274,443   94.29     2,557,761    5.71    44,832,204        6,608,564 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Re-appointment Norton 
 8     Schwartz                    51,019,386   99.20       409,647    0.80    51,429,033           11,739 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Re-appointment David 
 9     Lockwood                    51,290,996   99.73       138,651    0.27    51,429,647           11,127 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Re-appointment David 
 10    Mellors                     51,088,742   99.34       339,719    0.66    51,428,461           12,312 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
 11   Appointment of Auditors      51,369,277   99.88        61,498    0.12    51,430,775            9,998 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
 12   Remuneration of Auditors     51,157,388   99.46       280,129    0.54    51,437,517            3,256 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Authority to purchase 
 13    own shares                  50,293,213   98.25       897,884    1.75    51,191,097          249,674 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Authority to allot 
 14    shares                      40,449,690   78.64    10,987,591   21.36    51,437,281            3,489 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      General authority 
       to disapply pre-emption 
 15    rights                      42,620,468   82.86     8,815,855   17.14    51,436,323            4,450 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Additional disapplication 
 16    of pre-emption rights       39,947,745   77.66    11,489,920   22.34    51,437,665            3,106 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
      Authority to call 
       general meetings 
 17    on 14 days' notice          50,251,434   97.69     1,187,502    2.31    51,438,936            1,831 
     --------------------------  ------------  ------  ------------  ------  ------------  --------------- 
 

Notes:

(1) Where shareholders appointed the chairman of the meeting as their proxy with discretion as to voting, these votes have been cast in favour of all resolutions.

(2) A vote 'WITHHELD' is not a vote in law and is not counted in the calculation of the proportion of votes 'FOR' or 'AGAINST' a resolution.

   (3)      Resolutions 13, 15, 16 and 17 are Special Resolutions requiring a 75% majority. 

You can see from our proxy voting results above that a number of votes cast oppose resolution 14, to allot shares and resolution 16, the additional authority to allot shares without pre-emption rights. Although both votes are carried, we consider a 20% vote against any resolution to be significant. We plan to follow up with our major investors over the near future to understand the reason behind the vote result and to agree how to respond. We will announce our response within the next six months, as required by the Governance Code.

The following table provides further relevant information:

 
                                      Cobham plc's         Cobham plc's 
                                       One Hundred          One Hundred 
                                     and Twenty-Ninth    and Twenty-Eighth 
                                           AGM                  AGM 
                                          (2019)              (2018) 
 Issued share capital (excluding 
  Treasury Shares)                    2,391,009,391       2,391,009,391 
                                   ------------------  ------------------- 
 Total number of possible votes        59,794,935           59,794,935 
                                   ------------------  ------------------- 
 Proxy appointments lodged             51,438,936           52,568,419 
                                   ------------------  ------------------- 
 Representing % of possible vote          86.03                87.9 
                                   ------------------  ------------------- 
 Number of AGM attendees                    6                   7 
                                   ------------------  ------------------- 
 Total vote % on the poll                 86.03                87.9 
                                   ------------------  ------------------- 
 

A copy of a document setting out the resolutions passed dealing with special business at the meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.

The Voting results will be placed on our website (www.cobhaminvestors.com).

Lyn Colloff

Company Secretary

Cobham plc

25 April 2019

Name of contact and telephone number for queries:

Julian Wais

Director of Investor Relations

Tel: [phone]

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April 25, 2019 10:19 ET (14:19 GMT)