Source - LSE Regulatory
RNS Number : 1430I
Renishaw PLC
30 November 2022
 

Renishaw plc (the "Company")

 

Results of Annual General Meeting 2022

 

All resolutions proposed at the Annual General Meeting ("AGM") held on 30 November 2022 were duly passed on a poll. Resolutions 1 to 15 were passed as ordinary resolutions and resolution 16 was passed as a special resolution. The result of the poll is as follows:

 

Resolution

Votes For

%

Votes Against

%

Votes Total

% of ISC1 Voted Excl Withheld

Votes Withheld2

1.     Receive the Annual Report 2022

61,785,967

98.47

963,187

1.53

62,749,154

86.21%

946,475

2.     Approve the Remuneration Report

60,623,585

96.23

2,377,891

3.77

63,001,476

86.55%

694,153

3.     Amend the Remuneration Policy

62,310,706

98.90

689,939

1.10

63,000,645

86.55%

694,984

4.     Increase the Directors' fees

63,231,878

99.29

451,891

0.71

63,683,769

87.49%

11,860

5.     Declare a final dividend

63,695,142

100.00

87

0.00

63,695,229

87.51%

400

6.     Re-elect David McMurtry as a director

44,711,842

70.25

18,935,999

29.75

63,647,841

87.44%

47,889

7.     Re-elect John Deer as a director

47,191,603

74.14

16,456,238

25.86

63,647,841

87.44%

47,889

8.     Re-elect Will Lee as a director

63,266,457

99.34

418,598

0.66

63,685,055

87.49%

10,675

9.     Re-elect Allen Roberts as a director

62,525,389

98.77

777,713

1.23

63,303,102

86.97%

392,527

10.   Re-elect Catherine Glickman as a director

61,398,775

97.46

1,601,475

2.54

63,000,250

86.55%

695,379

11.   Re-elect David Grant as a director

61,009,234

96.28

2,354,214

3.72

63,363,448

87.05%

332,181

12.   Elect Juliette Stacey as a director

63,669,090

99.98

14,526

0.02

63,683,616

87.49%

12,013

13.   Elect Stephen Wilson as a director

63,570,529

99.82

112,937

0.18

63,683,466

87.49%

12,163

14.   Re-appoint Ernst & Young LLP as auditors

63,301,764

99.39

390,645

0.61

63,692,409

87.50%

3,220

15.   Authorise the Audit Committee to determine the auditors' remuneration

63,686,835

99.99

5,911

0.01

63,692,746

87.50%

2,883

16.   Authorise the Company to purchase its own shares3

62,155,445

97.61

1,519,608

2.39

63,675,053

87.48%

20,576

1 Issued Share Capital.

2 A vote withheld is not a vote in law and is not counted towards votes cast "For" or "Against" a resolution.

3 Special resolution requiring 75% majority.

 

Votes of independent shareholders on the resolutions concerning the election or re-election of the independent Non-executive Directors

10.   Re-elect Catherine Glickman as a director

22,945,516

93.48

1,601,475

6.52

24,546,991

71.49%

695,379

11.   Re-elect David Grant as a director

22,555,975

90.55

2,354,214

9.45

24,910,189

72.55%

332,181

12.   Elect Juliette Stacey as a director

25,215,831

99.94

14,526

0.06

25,230,357

73.48%

12,013

13.   Elect Stephen Wilson as a director

25,117,270

99.55

112,937

0.45

25,230,207

73.48%

12,163

 

In accordance with Listing Rule 9.2.2E, resolutions 10 to 13 inclusive were approved by: (a) the shareholders of the Company; and (b) the independent shareholders of the Company.

 

The total voting rights of the Company on the day on which shareholders had to be on the register in order to be eligible to vote was 72,788,543.

 

In accordance with Listing Rule 9.6.2R, a copy of resolution 16, which was passed as a special resolution, has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

The Board is pleased that the majority of resolutions were passed with a high level of support from shareholders. The Board has considered the votes against resolutions 6, the re-election of Sir David McMurtry (29.75%) and 7, the re-election of John Deer (25.86%).

 

To better understand the reasoning behind the votes against, the Board has considered the voting recommendation reports of proxy voting agencies and voting intentions of shareholders where these were made available to the Company before the 2022 AGM. Engagement with shareholders has also taken place both before and during the AGM with the ability to submit questions via email and receive answers before the proxy voting deadline, and dedicated Question & Answer sessions during the AGM, at our webcasts and Investor Day.

 

The Board will continue to engage with shareholders to further understand their views on this and any other significant matters of concern to shareholders. An update statement will be released within six months, outlining what developments have taken place to further understand the reasoning behind the votes against. 

 

Renishaw plc

30 November 2022

 

Registered office:

New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JR

Registered number:

01106260, England and Wales

Contact name:

Jacqueline Conway

Contact telephone:

01453 524524

www.renishaw.com

 

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