HOMESERVE PLC
RESULTS OF ANNUAL GENERAL MEETING
LONDON - 19 July 2019 - HomeServe plc ("HomeServe", "the Company"), the international home repairs and improvements business, announces that all items of business were duly passed on a show of hands at the Annual General Meeting held on Friday 19 July 2019.
In accordance with 9.6.2 (R) of the Listing Rules, a copy of the resolutions passed will be submitted to the National Storage Mechanism and will be available for inspection.
Proxy votes were as follows.
Resolution |
For |
Percentage of Votes Cast |
Against |
Percentage of Votes Cast |
Withheld |
1 Annual Report & Accounts |
271,512,703 |
99.96 |
30,498 |
0.01 |
810,472 |
2 Remuneration Report |
182,688,926 |
69.29 |
80,889,568 |
30.68 |
8,772,877 |
3 Dividend |
272,353,326 |
99.97 |
19 |
0.00 |
329 |
4 Re-elect J M B Gibson |
256,598,350 |
94.19 |
15,746,889 |
5.78 |
7,246 |
5 Re-elect R Harpin |
271,917,507 |
99.81 |
455,033 |
0.17 |
1,134 |
6 Re-elect D Bower |
271,882,198 |
99.80 |
464,977 |
0.17 |
6,498 |
7 Re-elect T Rusin |
271,883,855 |
99.80 |
462,392 |
0.17 |
6,239 |
8 Re-elect K Cliffe |
264,972,733 |
97.27 |
7,373,629 |
2.71 |
7,311 |
9 Re-elect S David |
271,659,530 |
99.72 |
685,645 |
0.25 |
7,311 |
10 Re-elect E Fitzmaurice |
271,662,413 |
99.72 |
683,758 |
0.25 |
6,315 |
11 Re-elect R McMillan |
271,171,190 |
99.54 |
1,174,060 |
0.43 |
7,533 |
12 Elect O Grémillon |
271,919,159 |
99.82 |
422,321 |
0.16 |
11,006 |
13 Re-appoint Auditor |
258,330,134 |
94.83 |
13,999,419 |
5.14 |
24,120 |
14 Auditor's Remuneration |
269,218,571 |
98.82 |
3,133,334 |
1.15 |
1,768 |
15 Authority to allot shares |
243,613,354 |
89.42 |
28,739,492 |
10.55 |
827 |
16 Pre-emption rights |
258,737,769 |
96.88 |
8,256,069 |
3.09 |
5,358,535 |
17 Additional pre-emption rights |
243,712,503 |
91.25 |
23,280,116 |
8.72 |
5,359,531 |
18 Purchase of own shares |
270,207,853 |
99.33 |
1,748,389 |
0.64 |
397,431 |
19 Notice of general meetings |
266,871,570 |
97.96 |
5,480,884 |
2.01 |
329 |
The number of shares in respect of which proxies were received was approximately 300m. The number of shares in issue was 334,597,481.
In relation to Resolution 2, the Board welcomes the support it received for the Remuneration Report from a substantial majority of shareholders. However, it recognises that a proportion of shareholders opposed the resolution.
HomeServe is aware that Institutional Shareholder Services (ISS) recommended voting against the Remuneration Report (Resolution 2) due to concerns around the payments made in respect of the exit during the year of former plc directors Martin Bennett and Johnathan Ford. HomeServe acknowledges that their departures were announced in advance of their respective exit dates (and therefore before the start of their notice periods) but considers that the action taken helped facilitate an orderly handover of responsibilities. The termination payments made were in accordance with HomeServe's remuneration policy.
HomeServe's Remuneration Committee acknowledges the feedback received from shareholders. Feedback will be actively considered when the remuneration policy is reviewed in preparation for the 2020 AGM, when the policy will be submitted to shareholders for approval as required under the triennial review process.
In line with HomeServe's commitment to maintaining an open and transparent dialogue with shareholders, the Company will consult with its major shareholders during FY20 to benefit from their input to the review of the remuneration policy and take account of concerns raised around the FY19 Remuneration Report. In accordance with the UK Corporate Governance Code, HomeServe will publish an update on this engagement within six months of the 2019 AGM.
About HomeServe
HomeServe is an international home repairs and improvements business which provides people with access to tradespeople and technology to make home repairs and improvements easy. HomeServe is listed on the London Stock Exchange, with a market capitalisation of £3.9 billion.
ENDS