29 January 2021
Avon Rubber p.l.c.
(the 'Company')
Result of AGM
Avon Rubber p.l.c. is pleased to announce that, at its Annual General Meeting held today, all the resolutions proposed in the Notice of Meeting were duly passed.
A breakdown of proxy votes lodged prior to the meeting for each resolution is set out below and will also be made available on the Company's website: www.avon-rubber.com
| |
|
For |
%
|
Against |
%
|
Withheld |
| 1 |
To receive the Report and Accounts |
23,732,634 |
99.99 |
3,119 |
0.01 |
199,790 |
| 2 |
To approve the Directors' Remuneration Report |
16,787,428 |
76.30 |
5,215,543 |
23.70 |
1,932,572 |
| 3 |
To approve the Directors' Remuneration Policy |
20,985,904 |
87.69 |
2,946,955 |
12.31 |
2,684 |
| 4 |
To declare a final dividend |
23,934,955 |
99.99 |
64 |
0.01 |
525 |
| 5 |
To re-elect Chloe Ponsonby as a Director |
23,932,175 |
99.99 |
1,848 |
0.01 |
1,521 |
| 6 |
To re-elect Paul McDonald as a Director |
23,754,372 |
99.99 |
642 |
0.01 |
180,530 |
| 7 |
To re-elect Nicholas Keveth as a Director |
23,933,445 |
99.99 |
578 |
0.01 |
1,521 |
| 8 |
To elect Bruce Thompson as a Director |
23,920,671 |
99.96 |
10,717 |
0.04 |
4,156 |
| 9 |
To elect Bindi Foyle as a Director |
23,927,810 |
99.99 |
3,578 |
0.01 |
4,156 |
| 10 |
To elect Victor Chavez CBE as a Director |
23,930,746 |
99.99 |
642 |
0.01 |
4,156 |
| 11 |
To re-appoint KPMG LLP as auditor of the Company |
23,932,859 |
99.99 |
1,553 |
0.01 |
1,132 |
| 12 |
To authorise the Directors to determine the auditors' remuneration |
23,934,064 |
99.99 |
690 |
0.01 |
790 |
| 13 |
To authorise the Company to make political donations (as defined in Companies Act 2006) |
23,677,259 |
98.94 |
253,891 |
1.06 |
4,394 |
| 14 |
To amend the Articles of Association |
23,931,973 |
99.99 |
1,014 |
0.01 |
2,557 |
| 15 |
To authorise the Directors to allot shares |
22,695,426 |
94.83 |
1,238,496 |
5.17 |
1,622 |
| 16 |
To disapply pre-emption rights |
23,929,214 |
99.98 |
4,608 |
0.02 |
1,722 |
| 17 |
To disapply pre-emption rights limited to a specified capital investment/acquisition |
23,688,732 |
98.97 |
245,961 |
1.03 |
850 |
| 18 |
To authorise the Company to purchase its own shares |
23,726,220 |
99.17 |
199,103 |
0.83 |
10,220 |
| 19 |
To authorise the Company to hold General Meetings on short notice |
23,604,841 |
98.62 |
329,300 |
1.38 |
1,403 |
| 20 |
To amend the rules of the Company's Long-Term Incentive Plan |
23,184,365 |
96.88 |
747,771 |
3.12 |
3,406 |
Notes
1. Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.
2. A "vote withheld" is not a vote under English law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.
3. Discretionary proxy votes lodged in favour of a third party have not been included in the "for", "against" or "total" figures.
4. At the date of the AGM the issued share capital of the Company is 31,023,292 ordinary shares.
Resolution 2 (Remuneration Report)
The Board notes that while Resolution 2 to approve the Directors' Remuneration Report was passed, a significant minority of shareholders voting (23.7%), chose not to support this resolution.
The Remuneration Committee gave careful consideration to executive remuneration during 2021 and consulted extensively with the Company's largest shareholders and the major proxy voting agencies. The views of all our shareholders are important to us and we will consult further with those shareholders who voted against this resolution to better understand their specific concerns.
The Company will provide an update within six months as required by the Corporate Governance Code 2018.
In accordance with paragraph 9.6.2 of the Listing Rules, a copy of the resolutions passed as special business along with the new articles of association will be submitted as soon as practicable to the National Storage Mechanism and will be available shortly for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Miles Ingrey-Counter
Company Secretary
LEI: 213800JM1AN62REBWA71
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