Source - RNS
RNS Number : 4793O
Vectura Group plc
17 May 2018
 

 

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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