Source - LSE Regulatory
RNS Number : 8590Y
Carr's Group PLC
18 January 2022
 

 

 

 

CARR'S GROUP PLC ("Carr's" or the "Group")

Result of Annual General Meeting


Carr's (CARR.L), the Agriculture and Engineering Group, confirms that all resolutions proposed at its Annual General Meeting ("AGM") held at 11:30am today, 18 January 2022, were passed by shareholders.

The results of the proxy votes cast in advance of the meeting were as set out below.  Votes withheld do not count in the number of votes counted for or against a resolution.

Resolution

Number of votes for

% of votes for

Number of votes against

% of votes against

Number of votes withheld

Total votes cast

1. Approve Annual Report and Accounts

50,953,871

99.98

8,720

0.02

3,606

50,966,197

2. Approve final dividend

50,966,197

100

0

0

0

50,966,197

3. Re-elect Peter Page

39,554,034

77.55

11,452,208

22.45

22,306

51,028,548

4. Re-elect Neil Austin

41,607,339

81.57

9,398,956

18.43

22,253

51,028,548

5. Re-elect John Worby

50,929,362

99.85

76,933

0.15

22,253

51,028,548

6. Re-elect Ian Wood

49,550,217

97.15

1,454,878

2.85

23,435

51,028,548

7. Appoint Grant Thornton UK LLP as Auditor

50,903,628

99.92

41,355

0.08

21,234

50,966,197

8. Authorise remuneration of Auditor

50,930,563

99.96

19,181

0.04

16,453

50,966,197

9. Approve Remuneration Report

46,674,005

96.89

1,500,203

3.11

2,791,989

50,966,197

10. Authorise allotment of shares

50,868,412

99.82

90,179

0.18

7,606

50,966,197

11. Disapply pre-emption (general)

50,756,603

99.61

199,926

0.39

9,671

50,966,200

12. Disapply pre-emption (investments)

50,774,503

99.65

180,879

0.35

10,818

50,966,200

13. Authorise purchase of own shares

50,739,195

99.57

218,249

0.43

8,753

50,966,197

14. Meetings on 14 days' notice

50,722,625

99.55

227,819

0.45

15,753

50,966,197

 

The total number of votes cast was 51,028,548 which represents 54% of the Company's shareholders.  The Board is always open to constructive dialogue with shareholders and is grateful to all those who took the time to consider and vote on the resolutions proposed.

The Board notes that although resolutions 3 and 4, to re-elect Peter Page and Neil Austin, were each passed with a significant majority, there were a material number of votes cast against.  The primary reason for this was the voting policy of a major shareholder which requires the Board to comprise a majority of independent Non-Executive Directors and at least one female member.  Prior to conclusion of the AGM, the Board did satisfy such requirements although, upon Alistair Wannop and Kristen Eshak Weldon standing down at the conclusion of AGM, this is currently not the case.  As previously communicated, a process is underway for the appointment of an independent Non-Executive Director.  A process is also underway relating to the appointment of a new CEO for the Group at which point Peter Page will revert to the position of Non-Executive Chairman.

An update on the position will be provided within six months as required by the Corporate Governance Code 2018.

In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority (FCA), a copy of the resolutions passed as Special Business at the AGM have been submitted to the UK Listing Authority and will be available for public inspection at the National Storage Mechanism (NSM) https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

 

Enquiries:

 

Carr's Group plc
Matthew Ratcliffe, Company Secretary

Tel: +44 (0) 1228 554 600

 

 

 

About Carr's Group plc:

 

Carr's is an international leader in manufacturing value added products and solutions, with market leading brands and robust market positions in Agriculture and Engineering, supplying customers in over 50 countries around the world.  Carr's operates a decentralised business model that empowers operating subsidiaries enabling them to be competitive, agile, and effective in their individual markets whilst setting overall standards and goals.

Its Speciality Agriculture division manufactures and supplies feed blocks, minerals and boluses containing trace metals and minerals for livestock.

Its Agricultural Supplies division manufactures compound animal feed, distributes farm machinery and runs a UK network of rural stores, providing a one-stop shop for the farming community.

Its Engineering division designs and manufactures bespoke equipment, including robotic and remote handling equipment, and provides technical services primarily into nuclear, oil and gas, and defence industries.

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