13 May 2021
TT Electronics plc
("the Company")
Annual General Meeting Results
The Company is pleased to announce that all resolutions put to the Annual General Meeting of the Company held at 11.30 am on 13 May 2021 were duly passed.
A poll was conducted on resolutions 1- 18, the results of the poll were as follows.
| RESOLUTION | VOTES FOR (including discretionary) | VOTES AGAINST | % of issued share capital voted | VOTES WITHHELD* | ||
| | NUMBER | % | NUMBER | % | ||
| 1. Receive Annual report and accounts | 140,717,610
| 99.99%
| 19,221
| 0.01%
| 80.49
| 19,900
|
| 2. Remuneration report | 101,152,644 | 77.46% | 29,430,685 | 22.54% | 74.68 | 10,173,399 |
| 3. Declare dividend | 140,751,383 | 100.00% | 545 | 0.00% | 80.50 | 4,800 |
| 4. Re-elect Warren Tucker | 140,591,337 | 99.97% | 45,937 | 0.03% | 80.43 | 119,454 |
| 5. Re-elect Richard Tyson | 140,715,865 | 99.99% | 20,588 | 0.01% | 80.49 | 20,275 |
| 6. Re-elect Mark Hoad | 140,719,875 | 99.99% | 16,849 | 0.01% | 80.49 | 20,004 |
| 7. Re-elect Jack Boyer | 140,722,596 | 99.99% | 14,128 | 0.01% | 80.49 | 20,004 |
| 8. Re-elect Alison Wood | 128,032,769 | 95.08% | 6,628,059 | 4.92% | 77.01 | 6,095,900 |
| 9. Re-elect Anne Thorburn | 140,714,571 | 99.99% | 19,454 | 0.01% | 80.49 | 22,703 |
| 10. Re-appoint Deloitte LLP as Auditor | 140,232,302 | 99.98% | 26,585 | 0.02% | 80.21 | 497,841 |
| 11. Auditors' remuneration | 140,734,298 | 99.99% | 18,017 | 0.01% | 80.50 | 4,413 |
| 12. Authority to make political donations | 137,746,894 | 98.29% | 2,393,079 | 1.71% | 80.15 | 616,755 |
| 13. Authority to allot shares | 139,098,844 | 98.94% | 1,486,134 | 1.06% | 80.40 | 10,450 |
| 14. Authority to disapply pre-emption rights (1)** | 140,281,951 | 99.80% | 285,769 | 0.20% | 80.39 | 27,708 |
| 15. Authority to disapply pre-emption rights (2)** | 138,624,121 | 98.62% | 1,945,512 | 1.38% | 80.39 | 25,795 |
| 16. Purchase of own shares** | 140,124,250 | 99.67% | 466,099 | 0.33% | 80.40 | 5,079 |
| 17. Notice of general meetings** | 140,196,001 | 99.75% | 355,006 | 0.25% | 80.38 | 44,421 |
| 18. Adopt Articles of Association** | 140,512,487 | 99.98% | 30,854 | 0.02% | 80.38 | 52,087 |
* A "vote withheld" is not a vote in law and is not counted in the calculation of the votes "for" and "against" a resolution.
** Special resolution.
The Board notes that, while all of the resolutions at today's Annual General Meeting were passed with the requisite majority, Resolution 2 (Approval of the Remuneration Report) passed with 77% of votes in favour.
Following recent engagement on our Remuneration Report with our major shareholders, we would like to thank those who discussed their views with us. We were reassured that a good majority supported the Remuneration Committee's proposed implementation of the Remuneration Policy for 2020. That said, we acknowledge that some shareholders did not agree.
Following the AGM, the Remuneration Committee will continue to engage with our major shareholders to fully understand their concerns. We will publish an update on our engagement within six months of the AGM, in accordance with the UK Corporate Governance Code.
In accordance with Listing Rule 9.6.2, copies of resolutions (other than the ordinary business resolutions) have been submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
L D Boardman
Group Company Secretary
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