Drax Group PLC Result of AGM (5240W)

TIDMDRX

RNS Number : 5240W

Drax Group PLC

17 April 2019

17 April 2019

Drax Group plc

(Symbol: DRX)

Poll Results of the Annual General Meeting

Drax Group plc announces the results of the voting by poll on the resolutions put to its Annual General Meeting held today, Wednesday 17 April 2019.

 
 No.   Brief Description             Votes For      %     Votes Against     %     Votes Total   Votes Withheld 
       To receive and adopt 
        the Annual report 
 1      and the audited accounts    298,203,436   99.98          52,694    0.02   298,256,130        1,896,896 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To approve the annual 
        statement to shareholders 
        by the Chairman of 
        the Remuneration 
        Committee and the 
        annual report on 
 2      remuneration                242,114,746   80.67      58,033,489   19.33   300,148,235            4,792 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To declare the final 
        dividend of 8.5 pence 
 3      per share                   299,718,692   99.86         432,045    0.14   300,150,737            2,290 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To elect Vanessa 
        Simms as a director 
 4      of the Company              299,288,484   99.72         854,339    0.28   300,142,823           10,095 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To elect Andy Skelton 
        as a director of 
 5      the Company                 296,836,219   98.90       3,306,604    1.10   300,142,823           10,095 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To re-elect Tim Cobbold 
        as a director of 
 6      the Company                 283,268,798   99.45       1,553,264    0.55   284,822,062       15,330,856 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To re-elect Philip 
        Cox as a director 
 7      of the Company              271,373,835   95.28      13,448,240    4.72   284,822,075       15,330,842 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To re-elect Will 
        Gardiner as a director 
 8      of the Company              299,372,150   99.74         776,465    0.26   300,148,615            4,303 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To elect Nicola Hodson 
        as a director of 
 9      the Company                 272,230,810   96.08      11,113,143    3.92   283,343,953       16,808,965 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To re-elect Andy 
        Koss as a director 
 10     of the Company              298,771,885   99.54       1,378,319    0.46   300,150,204            2,714 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To elect David Nussbaum 
        as a director of 
 11     the Company                 283,265,485   99.45       1,555,577    0.55   284,821,062       15,331,856 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To re-elect Tony 
        Thorne as a director 
 12     of the Company              283,267,989   99.45       1,555,087    0.55   284,823,076       15,329,842 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       To re-appoint Deloitte 
 13     LLP as auditor              288,369,385   96.55      10,295,550    3.45   298,664,935        1,488,091 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       Authority to determine 
 14     auditor's remuneration      294,883,991   98.25       5,258,008    1.75   300,141,999           11,028 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       Authority to make 
        EU political donations 
 15     to a specified limit        166,635,963   58.23     119,520,040   41.77   286,156,003       13,997,023 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       Authority to allot 
 16     shares                      297,299,575   99.05       2,842,145    0.95   300,141,720           11,307 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       Authority to make 
        non pre-emptive share 
 17     allotments                  300,099,658   99.99          40,011    0.01   300,139,669           13,358 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       Authority to purchase 
 18     own shares                  296,031,509   98.82       3,541,542    1.18   299,573,051          579,975 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
       Authority to call 
        a General Meeting 
        on not less than 
 19     14 days' notice             293,361,544   97.74       6,784,594    2.26   300,146,138            6,780 
      ---------------------------  ------------  ------  --------------  ------  ------------  --------------- 
 

Resolutions 1 to 19 were carried.

The total number of voting rights in the Company is 394,092,649.

At the 2019 AGM, 41.77% of votes cast by our shareholders were against Resolution 15, the authority relating to political donations(1) . It is not the policy of the Group to make donations to any political party, nor do we provide financial support to further the aims of any political group or party. In the lead up to the AGM, we engaged with shareholders on this issue and have reviewed the feedback. We appreciate the time given and comments offered which have provided us with a clearer understanding of shareholder views.

As part of our approach to stakeholder engagement, we believe that it is in the best interests of the Company to listen and participate in public debate and opinion-forming on matters which affect the Company's business. We will continue to engage with shareholders, to help formulate our approach to such engagement going forward, and explain why the Board considers the resolution to be in the best interests of the company and our shareholders.

Brett Gladden

Company Secretary

Drax Group plc

END

(1) responding to the restrictions imposed by the Political Parties, Elections and Referendums Act 2000 on companies making donations to EU political organisations or incurring political expenditure without shareholder consent.

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April 17, 2019 09:00 ET (13:00 GMT)