Dixons Carphone PLC Result of AGM (3907L)

TIDMDC.

RNS Number : 3907L

Dixons Carphone PLC

05 September 2019

5 September 2019

DIXONS CARPHONE PLC

ANNUAL GENERAL MEETING 2019 - POLL RESULTS

The Board of Dixons Carphone plc ('the Company') is pleased to announce that all the resolutions put to its Annual General Meeting held at 11:00am on Thursday 5 September 2019, were duly passed by the requisite majorities on a poll.

The results of the polls were as follows:

 
         Resolutions               Votes For         Votes Against     Votes Total   Issued   Votes Withheld 
                                                                                      Share 
                                                                                     Capital 
                                                                                      Voted 
                                 Number       %      Number       %      Number        %          Number 
                               -----------  -----  -----------  -----  -----------  --------  -------------- 
     To receive the 
      Annual Report 
      and Accounts, 
      including the 
      strategic report 
      and the reports 
      of the directors 
      and auditor for 
      the period ended 
1.    27 April 2019            964,149,291  99.99    129,414    0.01   964,278,705   82.96%      935,686 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To approve the 
      Directors' Annual 
      Remuneration 
2.    Report                   738,083,754  76.54  226,263,505  23.46  964,347,259   82.96%      867,132 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To approve the 
      Directors' Remuneration 
3.    Policy                   831,610,451  89.26  100,031,252  10.74  931,641,703   80.15%     33,572,688 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To declare a 
      final dividend 
      of 4.5p per ordinary 
4.    share                    960,566,776  99.52   4,643,402   0.48   965,210,178   83.04%       4,213 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To elect Eileen 
      Burbidge MBE 
5.    as a director            965,101,427  99.99    81,320     0.01   965,182,747   83.04%       31,641 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-elect Alex 
      Baldock as a 
6.    director                 963,353,376  99.81   1,832,481   0.19   965,185,857   83.04%       28,531 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-elect Tony 
      DeNunzio CBE 
7.    as a director            940,418,094  97.52  23,894,565   2.48   964,312,659   82.96%      901,729 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-elect Andrea 
      Gisle Joosen 
8.    as a director            949,240,761  98.35  15,941,102   1.65   965,181,863   83.04%       32,525 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-elect Lord 
      Livingston of 
      Parkhead as a 
9.    director                 933,871,949  96.76  31,312,432   3.24   965,184,381   83.04%       30,007 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-elect Jonny 
10.   Mason as a director      962,449,205  99.72   2,736,844   0.28   965,186,049   83.04%       28,339 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-elect Fiona 
11.   McBain as a director     962,173,509  99.70   2,915,952   0.30   965,089,461   83.03%      124,927 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-elect Gerry 
12.   Murphy as a director     934,368,653  96.81  30,815,795   3.19   965,184,448   83.04%       29,943 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To re-appoint 
      Deloitte LLP 
      as auditor of 
13.   the Company              929,722,046  99.20   7,523,435   0.80   937,245,481   80.63%     27,968,910 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     Authority for 
      the directors 
      to determine 
      the auditor's 
14.   remuneration             964,302,295  99.91    898,544    0.09   965,200,839   83.04%       13,549 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     Authority to 
      make political 
      donations not 
      exceeding GBP25,000 
15.   in total                 857,710,889  92.60  68,512,964   7.40   926,223,853  79.68%      38,990,538 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To approve the 
      Dixons Carphone 
      Colleague Shareholder 
16.   Scheme                   964,856,895  99.97    315,736    0.03   965,172,631   83.04%       41,757 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     To approve the 
      Dixons Carphone 
      Share Incentive 
17.   Plan                     964,659,312  99.95    517,138    0.05   965,176,450   83.04%       37,938 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     Authority to 
18.   allot shares             965,010,811  99.98    175,238    0.02   965,186,049   83.04%       28,342 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     Authority to 
      dis-apply pre-emption 
19.   rights *                 964,998,580  99.98    172,329    0.02   965,170,909   83.04%       43,479 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     Authority for 
      the Company to 
      purchase its 
20    own shares *             936,813,988  97.08  28,136,396   2.92   964,950,384   83.02%      264,004 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
     Authority to 
      call general 
      meetings at short 
21.   notice *                 951,324,537  98.56  13,884,975   1.44   965,209,512   83.04%       4,876 
     ------------------------  -----------  -----  -----------  -----  -----------  --------  -------------- 
 

* Special Resolutions

Resolution 2 - Remuneration Report

The Board welcomes the 76.54% vote in favour of our Remuneration Report, including the support from most of our largest shareholders. However, despite this vote in favour, the Board acknowledges that a significant minority of shareholders did not support this Resolution.

Over the past year we have engaged extensively with our shareholders and the proxy agencies on our approach to executive remuneration. The views of our shareholders are important to us and the feedback we have received has been helpful. The Committee will seek to consult further with shareholders to understand and discuss the specific rationale for any votes against our report.

The Remuneration Committee recognises that the appropriate incentivisation of a new management team embarking on a major transformation of the business is a difficult judgement.

Our Group Chief Executive and Chief Financial Officer both deferred 100% of their cash bonus for 2018/19 into share awards that will not vest for 2 years. The executives volunteered to do this as they were mindful that the performance of the business and the progress that is being made with the transformation is not reflected in the current share price and this was done in order to align themselves with shareholders.

The Company will continue to seek to consult with its shareholders and will publish an update on this engagement within six months of the 2019 AGM.

Notes:

1. The total number of ordinary shares of 0.1p each in issue on the share register as at the date of meeting was 1,162,360,001 and all of these have voting rights.

   2.   Percentages above are rounded to 2 decimal places. 

3. 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, the total votes validly cast or the calculation of the proportion of issued share capital voted.

In accordance with Listing Rule 9.6.2R, a copy of the resolutions, other than those concerning ordinary business, passed at the Annual General Meeting have been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.

Further information:

Nigel Paterson, Company Secretary and General Counsel

Tel: [phone]

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September 05, 2019 08:01 ET (12:01 GMT)