Balfour Beatty plc (the 'Company')
AGM Results
13 May 2021
Balfour Beatty plc announces that, at its Annual General Meeting ('AGM') held on 13 May 2021, the resolutions set out in the Notice of AGM dated 14 April 2021 were passed following a poll on each resolution.
Resolutions 1 to 16 were passed as Ordinary Resolutions and Resolutions 17 to 20 were passed as Special Resolutions. The table below details votes cast on each resolution.
|
| Votes For | % | Votes Against | % | Votes Total | Votes Withheld | % of ISC Voted (excluding shares held in Treasury) |
| Resolution 1: To adopt the Directors' Report and Accounts for the year ended 31 December 2020 | 500,558,030 | 99.99 | 61,003 | 0.01 | 500,619,033 | 40,578,193 | 81.02 |
| Resolution 2: To approve the Directors' Remuneration Report for the year ended 31 December 2020 | 491,532,925 | 96.91 | 15,686,233 | 3.09 | 507,219,158 | 33,978,068 | 81.02 |
| Resolution 3: To declare a final dividend of 1.5p per ordinary share of the Company | 541,161,090 | 99.99 | 13,043 | 0.01 | 541,174,133 | 23,093 | 81.02 |
| Resolution 4: To re-elect Mr P S Aiken AM as a Director | 417,152,141 | 77.99 | 117,708,516 | 22.01 | 534,860,657 | 6,336,569 | 81.02 |
| Resolution 5: To re-elect Dr S R Billingham CBE as a Director | 532,998,578 | 98.49 | 8,158,220 | 1.51 | 541,156,798 | 40,428 | 81.02 |
| Resolution 6: To re-elect Mr S J Doughty CMG as a Director | 532,911,732 | 98.48 | 8,246,967 | 1.52 | 541,158,699 | 38,527 | 81.02 |
| Resolution 7: To re-elect Mr P J Harrison as a Director | 540,511,511 | 99.88 | 650,180 | 0.12 | 541,161,691 | 35,535 | 81.02 |
| Resolution 8: To re-elect Mr M A Lucki as a Director
| 540,452,320 | 99.87 | 698,962 | 0.13 | 541,151,282 | 45,944 | 81.02 |
| Resolution 9: To re-elect Ms B J Moorhouse as a Director
| 533,546,571 | 98.59 | 7,609,596 | 1.41 | 541,156,167 | 41,059 | 81.02 |
| Resolution 10: To re-elect Mr L M Quinn as a Director
| 528,340,632 | 97.63 | 12,822,188 | 2.37 | 541,162,820 | 34,406 | 81.02 |
| Resolution 11: To re-elect Ms A Drinkwater as a Director
| 527,802,820 | 97.53 | 13,361,920 | 2.47 | 541,164,740 | 32,486 | 81.02 |
| Resolution 12: To reappoint KPMG LLP as auditor
| 507,107,781 | 93.72 | 34,001,593 | 6.28 | 541,109,374 | 87,852 | 81.02 |
| Resolution 13: To authorise the Directors to determine the remuneration of the auditor | 541,110,070 | 99.99 | 52,360 | 0.01 | 541,162,430 | 34,796 | 81.02 |
| Resolution 14: To authorise the Company and its UK subsidiaries to incur political expenditure | 527,665,296 | 97.51 | 13,491,950 | 2.49 | 541,157,246 | 39,980 | 81.02 |
| Resolution 15: To authorise the Directors to allot shares | 526,581,017 | 97.30 | 14,593,694 | 2.70 | 541,174,711 | 22,515 | 81.02 |
| Resolution 16: To adopt the rules of the Balfour Beatty Performance share Plan 2021 | 505,974,187 | 93.51 | 35,138,805 | 6.49 | 541,112,992 | 84,234 | 81.02 |
| Resolution 17: To adopt the Articles of Association | 541,075,823 | 99.99 | 54,195 | 0.01 | 541,130,018 | 67,208 | 81.02 |
| Resolution 18: To authorise the Directors to allot shares for cash on a non pre-emptive basis | 535,288,057 | 98.92 | 5,866,472 | 1.08 | 541,154,529 | 42,697 | 81.02 |
| Resolution 19: To renew the authority for the Company to purchase its own ordinary shares | 505,346,756 | 93.67 | 34,144,164 | 6.33 | 539,490,920 | 1,706,306 | 81.02 |
| Resolution 20: To authorise the Company to hold meetings, other than an Annual General Meeting, on 14 clear days' notice | 522,521,325 | 96.56 | 18,628,888 | 3.44 | 541,150,213 | 47,013 | 81.02 |
Notes:
1. The "for" votes include those giving the Chairman of the AGM discretion.
2. Votes "for" and "against" are expressed as a percentage of the total votes cast (excluding votes withheld).
3. The percentages above are rounded to two decimal places.
4. A vote withheld is not a vote in law and is not counted in the calculation of votes "for" or "against" a resolution.
5. Votes withheld are included in the percentage of issued share capital ('ISC') voted (excluding shares held in Treasury) calculation.
6. The total number of Ordinary Shares of 50p each in the Company in issue, excluding 21,724,180 treasury shares registered in the Company's name, at close of business on 11 May 2021 and the number used for the percentage of ISC voted was 668,015,439.
Resolution 4 was passed, with a majority 77.99% shareholder support for the re-election of Philip Aiken AM as a Director of the Company. The Board notes the result of this resolution which we understand has arisen due to concerns about board diversity. We engaged widely with shareholders during the year and will continue to do so. We will publish an update on this engagement, in accordance with the UK Corporate Governance Code, within six months of the 2021 AGM.
In accordance with Listing Rule 9.6.2R, copies of each of Resolutions 14 to 20 will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Please do not hesitate to contact ShareholderQuestions@balfourbeatty.com should you have any queries regarding this announcement. Please note that this email address will be deactivated one week after conclusion of the AGM.
Balfour Beatty plc's Legal Entity Identifier is CT4UIJ3TUKGYYHMENQ17.
General enquiries:
Contact and telephone number for queries /
Duly authorised officer of issuer responsible for making notification:
Tracey Wood, Group General Counsel and Company Secretary
Tel. +44 (0)20 7216 6800
Analyst/investor enquiries:
Angus Barry
Tel. +44 (0)7966 281 635
angus.barry@balfourbeatty.com
Media enquiries:
Antonia Walton
Tel. +44 (0) 7966 929 633
antonia.walton@balfourbeatty.com
Notes to editors:
· Balfour Beatty is a leading international infrastructure group with 26,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.
· We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
· Over the last 112 years we have created iconic buildings and infrastructure all over the world including: the £1.5 billion A14 improvement scheme - Britain's biggest road project; Hong Kong's HK$5.5 billion world-class harbour theatre project for the West Kowloon Cultural District Authority; and the 12.5 mile $429 million North Metro Commuter Rail line in Colorado, US.
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