Results of the Vectura Annual General Meeting
All Shareholder Resolutions Passed
Chippenham, UK, 17 May 2018: Vectura Group plc (LSE: VEC; "Vectura" or "the Company"), announces that all resolutions proposed to shareholders at its Annual General Meeting (AGM) held today were duly passed on a poll, the results of which are set out below:
|
Resolution |
Votes for |
% of votes cast |
Votes against |
% of votes cast |
Votes total |
Votes withheld* |
1 |
To receive the Company's Report and Accounts for the nine months ended 31 December 2017 including the independent auditor's report |
521,639,135 |
99.51 |
2,549,115 |
0.49 |
524,188,250 |
2,989 |
2 |
To receive and approve the Directors' Remuneration Report for the year ended 31 December 2017 |
293,649,674 |
58.54 |
208,004,264 |
41.46 |
501,653,938 |
22,537,300 |
3 |
To appoint Juliet Thompson |
522,911,632 |
99.78 |
1,175,067 |
0.22 |
524,086,699 |
104,542 |
4 |
To re-appoint Dr Per-Olof Andersson |
522,834,464 |
99.76 |
1,251,498 |
0.24 |
524,085,962 |
105,247 |
5 |
To re-appoint Bruno Angelici |
491,315,441 |
93.75 |
32,771,525 |
6.25 |
524,086,966 |
104,276 |
6 |
To re-appoint Frank Condella |
473,306,379 |
90.31 |
50,783,500 |
9.69 |
524,089,879 |
101,390 |
7 |
To re-appoint Andrew Derodra |
522,519,217 |
99.79 |
1,114,395 |
0.21 |
523,633,612 |
557,674 |
8 |
To re-appoint Dr Susan Foden |
414,600,531 |
79.11 |
109,486,465 |
20.89 |
524,086,996 |
104,257 |
9 |
To re-appoint James Ward-Lilley |
491,826,431 |
93.84 |
32,263,627 |
6.16 |
524,090,058 |
101,197 |
10 |
To re-appoint Neil Warner |
522,935,981 |
99.78 |
1,151,040 |
0.22 |
524,087,021 |
104,268 |
11 |
To re-appoint Dr Thomas Werner |
522,835,420 |
99.76 |
1,250,067 |
0.24 |
524,085,487 |
105,762 |
12 |
To re-appoint KPMG LLP as the Company's Auditor |
521,460,102 |
99.48 |
2,722,977 |
0.52 |
524,183,079 |
8,171 |
13 |
To authorise the Audit Committee to determine the auditor's remuneration |
523,733,360 |
99.91 |
451,506 |
0.09 |
524,184,866 |
6,385 |
14 |
To authorise political donations and expenditure |
514,549,362 |
99.48 |
2,680,549 |
0.52 |
517,229,911 |
6,961,340 |
15 |
To authorise the Directors to allot shares in the Company pursuant to section 551 of the Companies Act 2006 |
515,996,027 |
98.44 |
8,175,326 |
1.56 |
524,171,353 |
19,900 |
16 |
To authorise the disapplication of pre-emption rights |
523,890,233 |
99.95 |
275,820 |
0.05 |
524,166,053 |
25,242 |
17 |
To authorise the disapplication of pre-emption rights in relation to an acquisition or other capital investment |
482,815,290 |
92.11 |
41,351,944 |
7.89 |
524,167,234 |
24,061 |
18 |
To authorise market purchases of the Company's own shares |
514,438,359 |
98.21 |
9,358,774 |
1.79 |
523,797,133 |
394,163 |
19 |
To authorise the calling of any general meetings of the Company other than an Annual General Meeting by notice of at least 14 clear days |
517,891,406 |
98.80 |
6,298,657 |
1.20 |
524,190,063 |
1,233 |
The Board of Vectura is pleased that all of the resolutions put to shareholders at the AGM were passed but notes that Resolutions 2 and 8 received significant votes cast against them. The concern brought to the Board's attention through the votes on these resolutions relates to the 2017 bonuses awarded to the Executive Directors for performance during the financial year 2017.
A number of shareholders followed the recommendation by the Proxy Agency Institutional Shareholder Services "ISS" to vote against resolution 2, to approve the remuneration report. The Chair of the Remuneration Committee engaged with ISS immediately on receipt of their comments and reached out to a number of key shareholders ahead of the Annual General Meeting to understand their concerns.
The Board takes seriously its responsibilities to represent the interests of shareholders and to uphold the highest standards of corporate governance. The Remuneration Committee is committed to open and constructive dialogue with shareholders and shareholder bodies and will continue to seek their views. The Board will engage further over the coming months with shareholders on this topic.
- Ends -
For more information, please contact:
Vectura Group plc |
+44 (0)7471 352 720 |
|
|
David Ginivan - VP Corporate Communications Julia Wilson - Director Investor Relations |
+44 (0)7818 430 877 |
Consilium Strategic Communications |
+44 (0)20 3709 5700 |
Mary-Jane Elliott / Chris Welsh / Jessica Hodgson |
|
About Vectura
Vectura is an industry-leading inhaled product formulation, device design and development business offering a uniquely integrated inhaled drug delivery platform. We develop inhalation products to help patients suffering from airways diseases.
Vectura has eight key inhaled, two non-inhaled and ten oral products marketed by partners with growing global royalty streams, and a diverse partnered portfolio of drugs in clinical development. Our partners include Hikma, Novartis, Sandoz, Mundipharma, Kyorin, Baxter, GSK, UCB, Ablynx, Bayer, Chiesi, Almirall, Janssen, Dynavax and Tianjin KingYork.
Vectura's strategy is to fully leverage its differentiated technology and skills, maximising value by enhancing the delivery and performance of inhaled products and through the development of high-quality generic alternatives to branded therapies.
For further information, please visit Vectura's website at www.vectura.com.