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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Savills Plc | LSE:SVS | London | Ordinary Share | GB00B135BJ46 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
8.00 | 0.73% | 1,108.00 | 1,108.00 | 1,110.00 | 1,128.00 | 1,100.00 | 1,128.00 | 98,767 | 16:35:12 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Consulting Svcs,nec | 2.24B | 40.8M | 0.2998 | 37.02 | 1.51B |
TIDMSVS
RNS Number : 4113Y
Savills PLC
12 May 2021
12 MAY 2021
SAVILLS PLC
('the Company')
ANNUAL GENERAL MEETING - 12 MAY 2021: RESOLUTIONS
The Savills plc Annual General Meeting was held on Wednesday 12 May 2021 at Finsbury Circus House, 15 Finsbury Circus, London EC2M 7EB. All resolutions were passed on a poll
An analysis of the proxy votes lodged against each resolution prior to the AGM is set out below:
Resolution No. of Votes % For No. of % Against Total No. Total No. Poll For Votes Against of Votes of Votes Yes/No Cast Withheld/ Abstentions To receive the 2020 Annual Report and Accounts, the Directors' Reports and the Auditors' Report on the 2020 Annual Report 1 and Accounts 116,258,719 100.00% 185 0.00% 116,258,904 173,157 Yes -------------------- ------------- -------- ---------- ------------- To approve the Directors' Remuneration Report contained in the Annual Report and Accounts for the financial year ended 31 2 December 2020 86,458,864 79.05% 22,920,316 20.95% 109,379,180 7,052,881 Yes -------------------- ------------- -------- ---------- ------------- -------- To declare a final dividend of 17.0p per ordinary 3 share 116,427,799 100.00% 0 0.00% 116,427,799 4,262 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-elect Nicholas Ferguson 4 as a Director 115,413,693 99.14% 998,106 0.86% 116,411,799 20,262 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-elect Mark Ridley as a 5 Director 111,165,785 95.49% 5,246,014 4.51% 116,411,799 20,262 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-elect Tim Freshwater as 6 a Director 109,705,281 94.24% 6,706,366 5.76% 116,411,647 20,414 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-elect Simon 7 Shaw as a Director 111,748,467 95.99% 4,663,180 4.01% 116,411,647 20,414 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-elect Stacey Cartwright 8 as a Director 109,036,778 93.66% 7,374,869 6.34% 116,411,647 20,414 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-elect Florence Tondu-Mélique 9 as a Director 109,673,848 94.21% 6,737,951 5.79% 116,411,799 20,262 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-appoint Dana Roffman as 10 a Director 109,035,181 93.66% 7,376,466 6.34% 116,411,647 20,414 Yes -------------------- ------------- -------- ---------- ------------- -------- To re-appoint Philip Lee as a 11 Director 116,261,036 99.87% 150,611 0.13% 116,411,647 20,414 -------------------- ------------- -------- ---------- ------------- -------- To re-appoint Richard Orders as 12 a Director 116,259,046 99.87% 152,601 0.13% 116,411,647 20,414 -------------------- ------------- -------- ---------- ------------- -------- To appoint Ernst & Young as the 13 Auditors 116,152,451 99.78% 256,900 0.22% 116,409,351 22,710 Yes -------------------- ------------- -------- ---------- ------------- -------- To authorise the Directors to determine the Auditors' 14 remuneration 116,408,007 100.00% 3,773 0.00% 116,411,780 20,281 Yes -------------------- ------------- -------- ---------- ------------- -------- To authorise the extension of the Savills plc Performance Share 15 Plan 115,428,115 99.15% 985,894 0.85% 116,414,009 18,052 -------------------- ------------- -------- ---------- ------------- -------- To renew the Directors' power 16 to allot shares 110,077,891 94.57% 6,325,330 5.43% 116,403,221 28,840 Yes -------------------- ------------- -------- ---------- ------------- -------- To authorise a general disapplication of statutory pre-emption rights 17 (#) 115,903,965 99.57% 498,540 0.43% 116,402,505 29,556 Yes -------------------- ------------- -------- ---------- ------------- -------- To authorise an additional disapplication of statutory pre-emption 18 rights(#) 109,322,994 93.92% 7,079,510 6.08% 116,402,504 29,557 Yes -------------------- ------------- -------- ---------- ------------- -------- To renew the Company's authority to purchase its own 19 shares (#) 116,199,774 99.94% 65,665 0.06% 116,265,439 166,622 Yes -------------------- ------------- -------- ---------- ------------- -------- To authorise the Directors to call general meetings on 14 clear 20 days' notice (#) 103,658,926 89.04% 12,756,333 10.96% 116,415,259 16,802 Yes -------------------- ------------- -------- ---------- ------------- --------
(#) Passed as a special resolution.
The Board acknowledges the level of votes cast against Resolution 2, the advisory vote on the implementation of the Company's 2020 Remuneration Policy, itself approved by 90% of shareholders at last year's AGM.
In advance of the AGM the Board engaged with both shareholders and proxy advisors in respect of concerns raised on aspects of the Directors' Remuneration Report. The Board understands that shareholders' primary concern was its decision to take into account a wider number of operational and strategic performance metrics than the profit targets set prior to the pandemic. The Board applied discretion to specifically award 21% of the maximum potential profit related bonus element to the Executive Directors to recognise the significant operational and strategic progress in the year, reflected by the impressive market share gains. This decision resulted in total remuneration of the Executive Directors being reduced by 45% year-on-year. Some shareholders also felt that Executive Directors pension provision may not be aligned with the all-employee rate although this is fully aligned with the rates available to colleagues with an equivalent level of service.
The Board is satisfied that its recommendation was made in the best interests of all stakeholders. In light of the voting outcome, and in any event as part of the planned introduction of the new Chair of the Remuneration Committee to our leading shareholders, it will engage with our leading shareholders over the coming months. In accordance with the UK Corporate Governance Code, the Company will publish an update on that engagement within six months of the 2021 AGM
NOTES:
All resolutions were passed
1. Votes 'withheld' have not been included in the calculation of whether a resolution is carried. Percentages have been rounded to two decimal places.
2. Copies of Resolutions 17 to 20 , will be submitted to the National Storage Mechanism and in due course will be available to view at http://data.fca.org.uk/#/nsm/nationalstoragemechanism using Savills plc's code 'SVS'.
3. Details of the votes received on the resolutions are available on the Company's website: http://ir.savills.com/shareholder-information/agm
4. The issued share capital was 143,073,983 ordinary shares of 2.5 pence each and the total number of voting rights in respect of these ordinary shares was 143,073,983 each ordinary share having one vote.
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END
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(END) Dow Jones Newswires
May 12, 2021 07:45 ET (11:45 GMT)
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