PZ CUSSONS PLC Result of AGM (0590C)

TIDMPZC

RNS Number : 0590C

PZ CUSSONS PLC

26 September 2018

26 September 2018

PZ Cussons Plc ("the Company)

AGM Statement

At the Annual General Meeting of the Company held today at Manchester Business Park, 3500 Aviator Way, Manchester, M22 5TG all resolutions were passed on a poll. The polling result for each resolution is set out below:

 
          VOTES        %        VOTES       %        VOTES       % of      VOTES 
           FOR                  AGAINST              TOTAL        ISC     WITHHELD 
                                                                 VOTED 
 01    333,254,891    99.96      141,721   0.04   333,396,612   77.76%     491,279 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 02    329,591,160    98.74    4,214,455   1.26   333,805,615   77.86%      82,275 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 03    333,880,904   100.00        6,987   0.00   333,887,891   77.88%           0 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 04    333,546,733    99.90      334,725   0.10   333,881,458   77.88%       5,263 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 05    331,955,011    99.42    1,926,447   0.58   333,881,458   77.88%       5,263 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 06    333,408,226    99.86      473,232   0.14   333,881,458   77.88%       5,263 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 07    333,865,006   100.00       14,036   0.00   333,879,042   77.88%       7,679 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 08    329,489,719    98.73    4,226,914   1.27   333,716,633   77.84%     170,087 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 09    333,862,581   100.00       14,036   0.00   333,876,617   77.88%      10,104 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 10    333,539,920    99.90      341,138   0.10   333,881,058   77.88%       5,663 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 11    333,512,221    99.89      364,893   0.11   333,877,114   77.88%       9,607 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 12    333,800,059    99.99       46,041   0.01   333,846,100   77.87%      41,790 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 13    333,861,154   100.00       11,219   0.00   333,872,373   77.88%      11,868 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 14    319,926,205    95.83   13,933,450   4.17   333,859,655   77.87%      28,236 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 15*   319,916,607    95.82   13,943,100   4.18   333,859,707   77.87%      28,184 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 16*   329,845,212    98.80    4,004,021   1.20   333,849,233   77.87%      38,657 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 17*   329,046,612    98.55    4,837,329   1.45   333,883,941   77.88%       3,950 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 18*   333,638,283   100.00       12,850   0.00   333,651,133   77.82%     236,758 
      ------------  -------  -----------  -----  ------------  -------  ---------- 
 

*Special Resolution

VOTES OF INDEPENDENT SHAREHOLDERS ON THE RESOLUTIONS CONCERNING THE

RE-ELECTION AND ELECTION OF THE INDEPENDENT NON-EXECUTIVE DIRECTORS

 
 Resolution      VOTES        %       VOTES      %        VOTES       % of      VOTES 
                  FOR                AGAINST              TOTAL        ISC     WITHHELD 
                                                                      VOTED 
 06           155,510,751   99.70     473,232   0.30   155,983,983   76.48%       5,263 
             ------------  ------  ----------  -----  ------------  -------  ---------- 
 07           155,967,531   99.99      14,036   0.01   155,981,567   76.48%       7,679 
             ------------  ------  ----------  -----  ------------  -------  ---------- 
 08           153,694,758   98.62   2,148,794   1.38   155,843,552   76.41%     145,694 
             ------------  ------  ----------  -----  ------------  -------  ---------- 
 09           155,965,106   99.99      14,036   0.01   155,979,142   76.48%      10,104 
             ------------  ------  ----------  -----  ------------  -------  ---------- 
 10           155,642,445   99.78     341,138   0.22   155,983,583   76.48%       5,663 
             ------------  ------  ----------  -----  ------------  -------  ---------- 
 11           155,614,746   99.77     364,893   0.23   155,979,639   76.48%       9,607 
             ------------  ------  ----------  -----  ------------  -------  ---------- 
 

Notes:

(a) The votes "for" include those votes giving the Chairman discretion.

(b) A "vote withheld" is not counted towards the votes cast "for" or "against" a resolution.

(c) The total number of shares in issue on 26 September 2018 was 428,724,960.

Dividend Rectification

The Company also confirms its entry into certain arrangements which constitute smaller related party transactions within the scope of paragraph 11.1.10 of the Listing Rules.

In the notes to the Company's trading update issued on 14 June 2018 the Board referred to the identification of irregularities concerning the payment of certain historic interim dividends to Shareholders. Full details of those irregularities, their consequences and the actions proposed to rectify them were set out in the circular to shareholders dated 24 August 2018 giving notice of the Annual General Meeting.

Following the approval by shareholders at the Annual General Meeting of a resolution to approve the proposed rectification steps, the Company today entered into a Deed of Release effectively to waive any and all claims which the Company may have against current or former Shareholders who received the relevant historic dividends, and claims which the Company may have against relevant directors and former directors, in each case in respect of those elements of the relevant interim dividends which were, by reason of such irregularities, technically unlawful.

Entry into the Deed of Release constitutes smaller related party transactions of the Company within the meaning of paragraph 11.1.10 of the Listing Rules, in respect of which:

1 the related parties who are shareholders of the Company are the Trustees of the Zochonis Charitable Trust and the Trustees of the Sir J B Zochonis Will Trust;

2. the related parties who are directors or former directors of the Company are C L Silver, G A Kanellis, B H Leigh, J K Maiden, H Owers, J R Nicolson, J Arnold, C Davis, N Edozien, R Harvey, S Heale, D Lewis, J Pantelireis and J Steel.

3. the value of the consideration attributable to each of those transactions is not more than GBP15,743,321.

- ENDS -

For further information contact:

   PZ Cussons plc                                                   Tel: [phone] 

Brandon Leigh - Chief Financial Officer

   Instinctif                                                               Tel: [phone] 

Tim Linacre / Guy Scarborough

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September 26, 2018 11:25 ET (15:25 GMT)