Result of AGM

Released : 14 Jun 2022 03:33:00

RNS Number : 8602O
IP Group PLC
14 June 2022
 

FOR RELEASE ON

14 June 2022

 

IP Group plc - Results of Annual General Meeting ("AGM")

 

The Annual General Meeting of IP Group plc was held earlier today. All of the Resolutions proposed at the AGM were passed by the appropriate majority on a poll.

 

IP Group plc Annual General Meeting Poll Results

 

 

RESOLUTION

VOTES
FOR

%

VOTES
AGAINST

%

VOTES
TOTAL

% of ISC VOTED

VOTES
WITHHELD

1

To receive the Directors' Report, the Audited Statement of Accounts and Auditor's Report of the Company for the financial year ended 31 December 2021.

806,173,634

99.99

53,070

0.01

820,514,461

77.19

14,287,757

2

To approve the Directors' Remuneration Report for the year ended 31 December 2021.

763,846,946

93.10

56,606,501

6.90

820,514,461

77.19

61,014

3

To approve the Directors' Remuneration Policy

654,265,665

80.67

156,765,453

19.33

820,514,461

77.19

9,483,343

4

To approve the final dividend for the year ended 31 December 2021.

820,488,114

100.00

3,668

0.00

820,514,461

77.19

22,679

5

To approve the use of treasury shares for the purposes of the Scrip Dividend Scheme

820,390,986

99.99

49,983

0.01

820,514,461

77.19

73,492

6

To re-appoint KPMG LLP as auditor of the Company.

815,013,477

99.34

5,424,033

0.66

820,514,461

77.19

76,951

7

To authorise the Directors to fix the remuneration of KPMG LLP as auditor of the Company.

820,225,645

99.97

266,088

0.03

820,514,461

77.19

22,728

8

To re-elect Mr David Baynes as a Director of the Company.

808,024,548

98.49

12,380,914

1.51

820,514,461

77.19

108,999

9

To re-elect Dr Caroline Brown as a Director of the Company.

798,531,126

98.54

11,859,408

1.46

820,514,461

77.19

10,123,927

10

To re-elect Mr Heejae Chae as Director of the Company.

813,247,919

99.13

7,162,190

0.87

820,514,461

77.19

104,352

11

To re-elect Sir Douglas Flint as a Director of the Company.

809,059,857

99.25

6,086,486

0.75

820,514,461

77.19

5,368,118

12

To re-elect Ms Aedhmar Hynes as a Director of the Company.

814,406,811

99.27

6,005,362

0.73

820,514,461

77.19

102,288

13

To re-elect Mr Greg Smith as a Director of the Company.

819,426,006

99.88

981,229

0.12

820,514,461

77.19

107,226

14

To re-elect Dr Elaine Sullivan as a Director of the Company.

728,160,003

88.76

92,252,870

11.24

820,514,461

77.19

101,588

15

To authorise the Directors to

exercise all the powers of the Company to allot shares and grant rights to subscribe for or to convert any security into shares in the Company subject to the limits set out in the Annual General Meeting ("AGM") notice.

815,294,587

99.37

5,150,841

0.63

820,514,461

77.19

69,033

16

To empower the Directors to allot equity securities for cash, or sell treasury shares, dis-applying statutory pre-emption rights subject to the limits set out in the AGM notice.

820,371,691

99.99

73,065

0.01

820,514,461

77.19

69,705

17

In addition to the authority granted under Resolution 16, to empower the Directors to allot equity securities in connection with an acquisition or other capital investment as if section 561(1) of the Companies Act 2006 ("Act") did not apply to any such allotment, subject to the limits set out in the AGM notice.

796,575,071

97.09

23,871,632

2.91

820,514,461

77.19

67,758

18

To authorise the Company and its subsidiaries to incur political expenditure (as defined in section 365 of the Act) not exceeding £50,000 in total.

792,339,024

96.57

28,150,682

3.43

820,514,461

77.19

24,755

19

To authorise the Company to make market purchases (as defined in section 693(4) of the Act) of the Company's ordinary shares, subject to the limits set out in the AGM notice.

815,103,021

99.35

5,354,215

0.65

820,514,461

77.19

57,225

20

To enable a general meeting other than an Annual General Meeting to be called on not less than 14 clear days' notice.

812,272,791

99.00

8,221,782

1.00

820,514,461

77.19

19,888

21

To approve the rules of the IP Group plc Share Plan

649,730,269

79.19

170,742,022

20.81

820,514,461

77.19

42,170

 

 

The Company was pleased that, following extensive shareholder engagement over the months preceding the AGM, Resolution 21 (approval of the IP Group plc Share Plan) was supported in a vote at today's AGM. The Board welcomes the majority support but recognises that there were a number of votes opposing the Resolution.

 

The rules of the IP Group Share Plan align with the Remuneration Policy (approved under Resolution 3) and, together with the Remuneration Policy, were developed following extensive consultation by the Remuneration Committee with major shareholders, proxy agencies, independent advisors and employee representatives. The Board therefore believes the IP Group Share Plan rules are aligned with the long-term interests of the Company and its shareholders. The Board notes that some shareholders do not currently share this view. The views of all shareholders are important to the Board, and it acknowledges these concerns. The Board will therefore continue to engage with shareholders on these issues and will publish an update on that engagement within six months of the AGM.

 

In accordance with Listing Rule 9.6.1, a copy of the Resolutions has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

 

 

Ends

 

 

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