TT Electronics PLC Result of AGM (5738Y)

TIDMTTG

RNS Number : 5738Y

TT Electronics PLC

13 May 2021

13 May 2021

TT Electronics plc

("the Company")

Annual General Meeting Results

The Company is pleased to announce that all resolutions put to the Annual General Meeting of the Company held at 11.30 am on 13 May 2021 were duly passed.

A poll was conducted on resolutions 1- 18, the results of the poll were as follows.

 
 RESOLUTION                    VOTES FOR (including     VOTES AGAINST         % of issued   VOTES WITHHELD* 
                                discretionary)                                 share 
                                                                               capital 
                                                                               voted 
                               NUMBER         %         NUMBER       % 
                              -------------  --------  -----------  ------- 
 1. Receive Annual 
  report and accounts          140,717,610    99.99%      19,221     0.01%    80.49         19,900 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 2. Remuneration 
  report                       101,152,644    77.46%    29,430,685   22.54%   74.68         10,173,399 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 3. Declare dividend           140,751,383    100.00%   545          0.00%    80.50         4,800 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 4. Re-elect Warren 
  Tucker                       140,591,337    99.97%    45,937       0.03%    80.43         119,454 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 5. Re-elect Richard 
  Tyson                        140,715,865    99.99%    20,588       0.01%    80.49         20,275 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 6. Re-elect Mark 
  Hoad                         140,719,875    99.99%    16,849       0.01%    80.49         20,004 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 7. Re-elect Jack 
  Boyer                        140,722,596    99.99%    14,128       0.01%    80.49         20,004 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 8. Re-elect Alison 
  Wood                         128,032,769    95.08%    6,628,059    4.92%    77.01         6,095,900 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 9. Re-elect Anne 
  Thorburn                     140,714,571    99.99%    19,454       0.01%    80.49         22,703 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 10. Re-appoint 
  Deloitte LLP as 
  Auditor                      140,232,302    99.98%    26,585       0.02%    80.21         497,841 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 11. Auditors' remuneration    140,734,298    99.99%    18,017       0.01%    80.50         4,413 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 12. Authority to 
  make political 
  donations                    137,746,894    98.29%    2,393,079    1.71%    80.15         616,755 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 13. Authority to 
  allot shares                 139,098,844    98.94%    1,486,134    1.06%    80.40         10,450 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 14. Authority to 
  disapply pre-emption 
  rights (1)**                 140,281,951    99.80%    285,769      0.20%    80.39         27,708 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 15. Authority to 
  disapply pre-emption 
  rights (2)**                 138,624,121    98.62%    1,945,512    1.38%    80.39         25,795 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 16. Purchase of 
  own shares**                 140,124,250    99.67%    466,099      0.33%    80.40         5,079 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 17. Notice of general 
  meetings**                   140,196,001    99.75%    355,006      0.25%    80.38         44,421 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 18. Adopt Articles 
  of Association**             140,512,487    99.98%    30,854       0.02%    80.38         52,087 
                              -------------  --------  -----------  -------  ------------  ---------------- 
 

* A "vote withheld" is not a vote in law and is not counted in the calculation of the votes "for" and "against" a resolution.

** Special resolution.

The Board notes that, while all of the resolutions at today's Annual General Meeting were passed with the requisite majority, Resolution 2 (Approval of the Remuneration Report) passed with 77% of votes in favour.

Following recent engagement on our Remuneration Report with our major shareholders, we would like to thank those who discussed their views with us. We were reassured that a good majority supported the Remuneration Committee's proposed implementation of the Remuneration Policy for 2020. That said, we acknowledge that some shareholders did not agree.

Following the AGM, the Remuneration Committee will continue to engage with our major shareholders to fully understand their concerns. We will publish an update on our engagement within six months of the AGM, in accordance with the UK Corporate Governance Code.

In accordance with Listing Rule 9.6.2, copies of resolutions (other than the ordinary business resolutions) have been submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

L D Boardman

Group Company Secretary

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May 13, 2021 08:19 ET (12:19 GMT)