Result of AGM
U AND I GROUP PLC Annual General Meeting - voting results and proxy appointments
The Annual General Meeting of U and I Group PLC was held today at 12 noon at 7A Howick Place, London SW1P 1DZ.
All resolutions proposed at the Meeting were decided on a poll and resolutions were passed.
The number of votes for and against each of the resolutions put before the Meeting and the number of votes withheld were as follows:
% VOTES FOR
% VOTES AGAINST
Receipt of Financial statements and reports of the Directors and Auditors
Approval of the Remuneration Report
Election of S Morgan
Re-election of P W Williams
Re-election of M S Weiner
Re-election of R Upton
Re-election of M O Shepherd
Re-election of N H Thomlinson
Re-election of B Bennett
Re-election of L G Krige
Election of R C Kerslake
Declaration of final dividend
Authorise Directors to determine Auditors' remuneration
Authority to purchase own shares
Authority to allot shares
Disapplication of statutory pre-emption rights
General Meetings to be called on 14 days' notice
Authorise Directors to make political donations.
Notes to the disclosure
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 in law and is not counted in the calculation of the proportion of the votes for or against a resolution.
3. Resolutions 15, 17 and 18 are Special Resolutions.
4. Total voting rights of shares in issue: 125,431,713. Every shareholder has one vote for every ordinary share held.
5. The Board notes the minority vote against Resolution 4 to approve the re-election of Peter Williams as Chairman.
When the Board appointed Peter Williams as its Chairman just under three years ago, it undertook a very thorough and robust process. This included reviewing his skillset as well as his business commitments to ensure he had the time, expertise and shared passion to support U+I as it seeks to deliver socio-economic benefits to the communities in which it works and sustainable returns to its shareholders through a purposeful approach. This is a process the Board undertakes with all its Directors and will continue to do so to ensure that they can fulfil their roles.
Peter reduced his directorships of listed UK companies during FY19, stepping down from two companies. Factors outside his control meant he became Chairman of Superdry, rather than a Non-Executive Director as he had originally envisaged and would have meant he was not overboarded. Peter understands the concerns and continues to review his directorships. U+I has benefitted greatly from Peter's wide-ranging knowledge and expertise, which spans from many years of running and advising businesses across a range of sectors. We have no concerns about his commitment as Peter dedicates a significant amount of time to U+I beyond his statutory Board duties and is a huge asset to the business. We will continue to engage with our shareholders on the matter.
In accordance with paragraph 9.6.2 of the Listing Rules, copies of the resolutions passed at the meeting, other than resolutions concerning ordinary business, have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do
4 September 2019
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