Vesuvius plc Result of AGM 2018 (6991N)

TIDMVSVS

RNS Number : 6991N

Vesuvius plc

10 May 2018

10 May 2018

Vesuvius plc - Result of Annual General Meeting 2018 ("AGM")

Vesuvius plc ("the Company") confirms that, at its AGM held today, each of the resolutions set out in the Notice of Meeting to Shareholders dated 27 March 2018 were passed by the Shareholders. A poll was conducted on each resolution at the meeting and the results, certified by the scrutineer Equiniti Limited, were as follows:

 
      RESOLUTIONS             FOR                       AGAINST               TOTAL 
                              No. of           % of     No. of       % of     No. of        % of          Votes 
                               votes cast(1)    votes    votes        votes    votes cast    Issued        withheld(3) 
                                                cast     cast         cast                   Share 
                                                                                             Capital(2) 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Receipt of 
       Annual Report 
 1     and Accounts              238,450,925    99.94      142,765     0.06   238,593,690        87.97%        169,899 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Declaration 
 2     of Final Dividend         238,465,257    99.88      295,472     0.12   238,760,729        88.03%          2,861 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Approval of 
       Directors' 
       Remuneration 
 3     Report                    234,780,528    98.65    3,204,210     1.35   237,984,738        87.75%        778,850 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Election of 
 4     Patrick André        237,128,990    99.38    1,481,601     0.62   238,610,591        87.98%        152,999 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Re-election 
       of Christer 
 5     Gardell                   235,011,519    98.50    3,588,755     1.50   238,600,274        87.97%        163,316 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Re-election 
 6     of Hock Goh               177,236,253    75.11   58,727,472    24.89   235,963,725        87.00%      2,799,864 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Re-election 
 7     of Jane Hinkley           237,976,431    99.74      624,835     0.26   238,601,266        87.98%        162,324 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Re-election 
       of Douglas 
 8     Hurt                      237,985,631    99.74      613,393     0.26   238,599,024        87.97%        164,566 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Re-election 
 9     of Holly Koeppel          237,974,211    99.74      623,555     0.26   238,597,766        87.97%        165,824 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Re-election 
       of John McDonough 
 10    CBE                       236,141,925    98.97    2,468,181     1.03   238,610,106        87.98%        153,483 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Re-election 
 11    of Guy Young              236,140,834    98.96    2,471,165     1.04   238,611,999        87.98%        151,591 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Reappointment 
 12    of Auditor                238,607,220   100.00        1,934     0.00   238,609,154        87.98%        154,436 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Remuneration 
 13    of Auditor                238,748,342   100.00       11,458     0.00   238,759,800        88.03%          3,790 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Authority to 
       incur political 
 14    expenditure               234,890,021    98.44    3,716,311     1.56   238,606,332        87.98%        157,258 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Authority to 
 15    allot shares              236,373,349    99.06    2,239,758     0.94   238,613,107        87.98%        150,483 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Special Resolution: 
      Authority to 
      dis-apply pre-emption 
 16   Rights                     238,550,266    99.98       58,261     0.02   238,608,527        87.98%        155,063 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Special Resolution: 
       Additional 
       authority to 
       disapply pre-emption 
       rights only 
       in connection 
       with an acquisition 
       or specified 
 17    investment                236,068,201    98.87    2,689,445     1.13   238,757,646        88.03%          5,943 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Special Resolution: 
       Authority to 
       purchase own 
 18    shares                    236,835,112    99.42    1,371,034     0.58   238,206,146        87.83%        557,443 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
      Special Resolution: 
       Authority to 
       call a general 
       meeting on 
       14 clear days' 
 19    notice                    234,147,909    98.07    4,609,547     1.93   238,757,456        88.03%          6,134 
     ----------------------  ---------------  -------  -----------  -------  ------------  ------------  ------------- 
 

Notes:

1. Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.

2. The total number of shares in issue is 278,485,071 of which 7,271,174 shares are held as Treasury shares. Therefore, the total number of voting rights in the Company is 271,213,897.

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

   4.    All percentages are shown to two decimal places. 

This information will also shortly be available to view on the Company's website at: www.vesuvius.com.

As there were no resolutions passed at the AGM other than resolutions concerning ordinary business, no copies of resolutions have been submitted to the National Storage Mechanism in accordance with Listing Rule 9.6.2.

Re-election of Hock Goh

The Board notes that resolution 6, the re-election of Hock Goh, was passed with the requisite majority of votes from shareholders, but acknowledges that there were a significant number of votes opposing his re-election.

The Board seeks to ensure that each Director has time to meet the requirements of their role. This is regularly evaluated, and the Board remains satisfied that Hock Goh, as with all other directors, has sufficient capacity to meet his commitments to Vesuvius plc. As set out in our AGM Notice, Hock Goh brings extensive experience of the global services industry to board discussions as well as a perspective on the Asian markets. The Board takes the views of the Company's shareholders seriously and will continue to engage with them to understand their concerns in respect of the above resolution.

For further information, please contact:

 
 Henry Knowles, General Counsel and Company 
  Secretary                                    [phone] 
 Virginia Skroski, Investor Relations 
  Manager                                      [phone] 
 

About Vesuvius plc

Vesuvius is a global leader in molten metal flow engineering principally serving the steel and foundry industries.

We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to improve their manufacturing processes, enhance product quality and reduce energy consumption. These include flow control solutions, advanced refractories and other consumable products and - increasingly - related technical services including data capture.

We have a worldwide presence. We serve our customers through a network of low-cost manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.

Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.

Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where he or she is recognised, developed and properly rewarded.

Vesuvius plc, 165 Fleet Street, London EC4A 2AE

Registered in England and Wales No. 8217766

LEI: 213800ORZ521W585SY02

www.vesuvius.com

This information is provided by RNS

The company news service from the London Stock Exchange

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May 10, 2018 08:51 ET (12:51 GMT)