Homeserve Plc Result of AGM (0433G)

TIDMHSV

RNS Number : 0433G

Homeserve Plc

19 July 2019

HOMESERVE PLC

RESULTS OF ANNUAL GENERAL MEETING

LONDON - 19 July 2019 - HomeServe plc ("HomeServe", "the Company"), the international home repairs and improvements business, announces that all items of business were duly passed on a show of hands at the Annual General Meeting held on Friday 19 July 2019.

In accordance with 9.6.2 (R) of the Listing Rules, a copy of the resolutions passed will be submitted to the National Storage Mechanism and will be available for inspection.

Proxy votes were as follows.

 
 Resolution                            For   Percentage      Against   Percentage    Withheld 
                                               of Votes                  of Votes 
                                                   Cast                      Cast 
 1 Annual Report & Accounts    271,512,703        99.96       30,498         0.01     810,472 
                              ------------  -----------  -----------  -----------  ---------- 
 2 Remuneration Report         182,688,926        69.29   80,889,568        30.68   8,772,877 
                              ------------  -----------  -----------  -----------  ---------- 
 3 Dividend                    272,353,326        99.97           19         0.00         329 
                              ------------  -----------  -----------  -----------  ---------- 
 4 Re-elect J M B Gibson       256,598,350        94.19   15,746,889         5.78       7,246 
                              ------------  -----------  -----------  -----------  ---------- 
 5 Re-elect R Harpin           271,917,507        99.81      455,033         0.17       1,134 
                              ------------  -----------  -----------  -----------  ---------- 
 6 Re-elect D Bower            271,882,198        99.80      464,977         0.17       6,498 
                              ------------  -----------  -----------  -----------  ---------- 
 7 Re-elect T Rusin            271,883,855        99.80      462,392         0.17       6,239 
                              ------------  -----------  -----------  -----------  ---------- 
 8 Re-elect K Cliffe           264,972,733        97.27    7,373,629         2.71       7,311 
                              ------------  -----------  -----------  -----------  ---------- 
 9 Re-elect S David            271,659,530        99.72      685,645         0.25       7,311 
                              ------------  -----------  -----------  -----------  ---------- 
 10 Re-elect E Fitzmaurice     271,662,413        99.72      683,758         0.25       6,315 
                              ------------  -----------  -----------  -----------  ---------- 
 11 Re-elect R McMillan        271,171,190        99.54    1,174,060         0.43       7,533 
                              ------------  -----------  -----------  -----------  ---------- 
 12 Elect O Grémillon     271,919,159        99.82      422,321         0.16      11,006 
                              ------------  -----------  -----------  -----------  ---------- 
 13 Re-appoint Auditor         258,330,134        94.83   13,999,419         5.14      24,120 
                              ------------  -----------  -----------  -----------  ---------- 
 14 Auditor's Remuneration     269,218,571        98.82    3,133,334         1.15       1,768 
                              ------------  -----------  -----------  -----------  ---------- 
 15 Authority to allot 
  shares                       243,613,354        89.42   28,739,492        10.55         827 
                              ------------  -----------  -----------  -----------  ---------- 
 16 Pre-emption rights         258,737,769        96.88    8,256,069         3.09   5,358,535 
                              ------------  -----------  -----------  -----------  ---------- 
 17 Additional pre-emption 
  rights                       243,712,503        91.25   23,280,116         8.72   5,359,531 
                              ------------  -----------  -----------  -----------  ---------- 
 18 Purchase of own shares     270,207,853        99.33    1,748,389         0.64     397,431 
                              ------------  -----------  -----------  -----------  ---------- 
 19 Notice of general 
  meetings                     266,871,570        97.96    5,480,884         2.01         329 
                              ------------  -----------  -----------  -----------  ---------- 
 

The number of shares in respect of which proxies were received was approximately 300m. The number of shares in issue was 334,597,481.

In relation to Resolution 2, the Board welcomes the support it received for the Remuneration Report from a substantial majority of shareholders. However, it recognises that a proportion of shareholders opposed the resolution.

HomeServe is aware that Institutional Shareholder Services (ISS) recommended voting against the Remuneration Report (Resolution 2) due to concerns around the payments made in respect of the exit during the year of former plc directors Martin Bennett and Johnathan Ford. HomeServe acknowledges that their departures were announced in advance of their respective exit dates (and therefore before the start of their notice periods) but considers that the action taken helped facilitate an orderly handover of responsibilities. The termination payments made were in accordance with HomeServe's remuneration policy.

HomeServe's Remuneration Committee acknowledges the feedback received from shareholders. Feedback will be actively considered when the remuneration policy is reviewed in preparation for the 2020 AGM, when the policy will be submitted to shareholders for approval as required under the triennial review process.

In line with HomeServe's commitment to maintaining an open and transparent dialogue with shareholders, the Company will consult with its major shareholders during FY20 to benefit from their input to the review of the remuneration policy and take account of concerns raised around the FY19 Remuneration Report. In accordance with the UK Corporate Governance Code, HomeServe will publish an update on this engagement within six months of the 2019 AGM.

 
 
   Media enquiries: Tulchan       HomeServe Investor Relations 
   Group 
   Martin Robinson                Miriam McKay - Group Communications 
   Lisa Jarrett-Kerr              and IR Director 
   [e-mail]     [e-mail] 
   [phone]               [phone] 
 
                                  Simon Lewis - Head of Investor Relations 
                                  [e-mail] 
                                  [phone] 
 

About HomeServe

HomeServe is an international home repairs and improvements business which provides people with access to tradespeople and technology to make home repairs and improvements easy. HomeServe is listed on the London Stock Exchange, with a market capitalisation of GBP3.9 billion.

ENDS

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July 19, 2019 07:00 ET (11:00 GMT)