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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Qinetiq Group Plc | LSE:QQ. | London | Ordinary Share | GB00B0WMWD03 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.00 | 0.30% | 336.40 | 336.40 | 336.80 | 337.40 | 333.60 | 337.40 | 60,996 | 09:10:41 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Security Systems Service | 1.58B | 154.4M | 0.2681 | 12.48 | 1.93B |
TIDMQQ.
RNS Number : 5404L
QinetiQ Group plc
19 July 2017
QINETIQ GROUP PLC
19 July 2017
QINETIQ GROUP PLC - Results of Annual General Meeting held on 19 July 2017
QinetiQ Group plc ('QinetiQ') announces that all resolutions proposed at its Annual General Meeting ('AGM') held on 19 July 2017 were duly passed with the requisite majorities and the results of the poll are as follows:
VOTES % VOTES % TOTAL % OF VOTES FOR AGAINST VOTES SHARE WITHHELD VALIDLY CAPITAL CAST WITH VOTING RIGHTS --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To receive the Report 1 and Accounts 398,575,070 100.00 18,886 0.00 398,593,956 70.27 1,992,803 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To approve the Directors' Remuneration 2 Policy 255,350,780 63.75 145,182,781 36.25 400,533,561 70.61 53,828 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To approve the Directors' Remuneration 3 Report 380,227,053 94.93 20,307,830 5.07 400,534,883 70.61 51,876 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To declare a final 4 dividend 400,445,516 99.97 133,358 0.03 400,578,874 70.62 7,885 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To elect 5 Lynn Brubaker 385,178,105 99.67 1,261,035 0.33 386,439,140 68.13 14,141,115 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To re-elect 6 James Burnell-Nugent 385,028,596 96.12 15,529,226 3.88 400,557,822 70.62 28,937 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To re-elect 7 Mark Elliott 383,682,580 95.79 16,873,877 4.21 400,556,457 70.61 23,798 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To re-elect Michael 8 Harper 384,551,598 96.01 15,991,463 3.99 400,543,061 70.61 37,194 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To re-elect 9 Ian Mason 385,048,847 96.13 15,494,414 3.87 400,543,261 70.61 36,994 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To re-elect 10 Paul Murray 385,000,128 96.12 15,542,729 3.88 400,542,857 70.61 37,398 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To re-elect 11 Susan Searle 371,433,918 92.73 29,110,548 7.27 400,544,466 70.61 35,788 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To elect 12 David Smith 397,203,885 99.17 3,339,082 0.83 400,542,967 70.61 37,258 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To re-elect 13 Steve Wadey 395,231,973 98.67 5,332,911 1.33 400,564,884 70.62 21,875 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To appoint Pricewaterhouse-Coopers 14 LLP as auditor 399,760,069 99.80 787,401 0.20 400,547,470 70.61 39,289 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To authorise the Audit Committee to determine the auditor's 15 remuneration 400,459,168 99.98 99,683 0.02 400,558,851 70.62 27,908 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To authorise the Company and its subsidiaries to make political 16 donations 384,220,007 99.43 2,204,897 0.57 386,424,904 68.12 14,161,855 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To approve the 2017 QinetiQ Group plc Incentive 17 Plan 256,936,791 64.15 143,600,025 38.85 400,536,816 70.61 49,943 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To authorise the Directors to allot 18 shares 390,410,573 97.86 8,532,771 2.14 398,943,344 70.33 1,636,911 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To disapply pre-emption 19 rights (standard)* 386,284,019 99.97 133,219 0.03 386,417,238 68.12 14,163,017 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To disapply pre-emption 20 rights (acquisitions)* 382,338,635 95.46 18,187,487 4.54 400,526,122 70.61 54,133 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To purchase 21 own shares* 388,101,711 97.29 10,822,577 2.71 398,924,288 70.33 1,662,471 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- ----------- To call general meetings on not less than 14 clear days' 22 notice* 360,917,781 93.40 25,511,224 6.60 386,429,005 68.12 14,143,666 --- ------------------------- ------------ ------- ------------ ------ ------------ --------- -----------
*Special Resolution
Notes:
1. The percentages above are rounded to two decimal places. 2. Votes "for" include discretionary votes.
3. A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "for" and "against" a resolution.
4. The number of ordinary shares in issue at 11.00 am on 17 July 2017 was 571,757,121 of which 4,515,868 are held in treasury. Therefore the number of ordinary shares with voting rights at 11:00am on 17 July 2017 was 567,241,253.
In accordance with Listing Rule 9.6.2R, a copy of the resolutions, other than those concerning ordinary business, passed by the Company at the AGM held on 19 July 2017, has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
The Board of Directors of QinetiQ (the 'Board) is pleased that all resolutions were successfully approved by shareholders. The Board however recognises that, while the majority of our principal shareholders voted in favour of all resolutions, some shareholders and their proxy advisors did not support resolutions 2 and 17.
Throughout the development of the new Directors' Remuneration Policy (the 'Policy') and the 2017 QinetiQ Group plc Incentive Plan (the 'Incentive Plan'), we engaged with our main shareholders and their proxy advisors to understand their concerns in relation to the Policy and Incentive Plan and incorporate provisions to address them, where consistent with the objectives of the Policy. It is clear from the vote that, while the majority of shareholders were supportive, we still have more to do to explain elements of the Policy and Incentive Plan to some shareholders and why the Board believes their adoption is in shareholders' best interests.
In particular, the Board notes that the move to an annual assessment for the majority of performance conditions caused a concern for some shareholders that this might result in a short-term focus for management. The Board believes that QinetiQ's five-year strategy for sustainable growth will continue to evolve in a dynamic market and that the inclusion of annual and multi-year performance assessments will ensure that Executives are appropriately incentivised to respond to the opportunities and challenges created in this dynamic market. Ongoing forfeiture conditions coupled with a material deferral in shares will ensure that the full value of incentives earned based on the annual assessment of performance will only be received if this leads to long-term sustainable performance and value creation for shareholders.
The Board will implement the Policy and Incentive Plan while remaining receptive to feedback as it continues to work to ensure that policies and procedures are understood and aligned with shareholders' interests.
Enquiries:
+44 (0)1252 Company Secretary: Jon Messent, QinetiQ 392000 +44 (0)7920 Investor Relations: David Bishop, QinetiQ 108675 +44 (0)7908 Ian Brown, QinetiQ 251123 Chris Barrie, Citigate +44 (0)20 Media Relations: Dewe Rogerson 7282 2943 Ellen Wilton, Citigate +44 (0)20 Dewe Rogerson 7282 2849
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
July 19, 2017 11:05 ET (15:05 GMT)
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