NATIONWIDE BUILDING SOCIETY

Management Reports • Jul 20, 2017

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RNS Number : 6743L

Nationwide Building Society

20 July 2017

20 July 2017

NATIONWIDE BUILDING SOCIETY

The results of Nationwide Building Society's Annual General Meeting (AGM) held today at the International Convention Centre (ICC) in Birmingham are detailed below.

Ordinary resolutions:

1. To receive the Directors' Report, the Annual Accounts, the Annual Business Statement and the Auditors' Report

For:  597,977 (99.08%)       Against:  5,548 (0.92%)      Votes withheld:  4,391

2. To approve the Directors' Remuneration Report

For:  558,021 (93.24%)         Against:  40,434 (6.76%)       Votes withheld: 9,469

3. To approve the Directors' Remuneration Policy

For:  550,109 (92.04%)        Against:  47,552 (7.96%)       Votes withheld:  10,261

4. To approve the re-appointment of PricewaterhouseCoopers LLP as Auditors until the end of the next AGM

For:  579,978 (96.62%)         Against:  20,259 (3.38%)       Votes withheld:  7,681

5. To pass a Special Resolution to amend the Rules of the Society

For:  584,322 (97.97%)         Against:  12,100 (2.03%)         Votes withheld:  11,513

Election and Re-election of Directors

The results of the election/re-election of Directors for Nationwide are as follows:

Candidate	Votes For	Votes Against	Votes Withheld
Joe Garner	576,995	22,255	8,665
Kevin Parry	579,594	18,995	9,342
Usha Prashar	576,076	23,098	8,738
Rita Clifton	582,736	17,160	8,024
Mai Fyfield	579,138	20,298	8,474
Mitchel Lenson	581,571	17,496	8,849
Lynne Peacock	579,160	20,807	7,946
Tony Prestedge	580,977	18,126	8,823
Mark Rennison	579,944	19,388	8,579
Chris Rhodes	580,987	18,098	8,826
David Roberts	578,211	20,795	8,913
Tim Tookey	580,878	17,909	9,135

Accordingly, all of the Directors standing for election/re-election were elected and re-elected.

David Roberts, Nationwide's Chairman, said:

"Nationwide's AGM is an opportunity for members to engage with the Board and management. One we very much welcome, which is why we take the meeting to different parts of the UK to help member access and representation.

"In Birmingham today, we were able to report on another very strong trading year for Nationwide, taking our membership to an all-time high. This followed record gross mortgage lending and record current account openings, and Nationwide has become the UK's top choice for current accounts.

"The strength of our trading performance meant that earlier this year we reported profits of over £1 billion for the third year running, and were able to give an additional £505 million to members in the form of better rates, fees and incentives. We also continue to invest in service, branches and digital services, maintaining our customer satisfaction lead over all our high street peer group 1.

"What makes Nationwide different is that it is owned by its members and, with a one-member one-vote policy, members can genuinely influence the direction of the Society.

"We are therefore encouraged by members' wholehearted support for the Resolutions recommended by the Board at today's AGM.  Each Resolution passed with at least 92% of votes cast in favour.

"We are seeking ways to engage our members more fully in Nationwide. This includes giving our members a say over what projects are supported by our new housing-focused social investment strategy. In the coming months, we will also be extending our digital feedback channel, Member Connect, to more members than ever before.

"I'd like to thank our members for their continued support for the Society."

1 © GfK 2017, Financial Research Survey (FRS), 3 months ending 31 March 2017 vs. 3 months ending 31 March 2016, proportion of extremely/very satisfied customers minus proportion of extremely/very/fairly dissatisfied customers summed across current account, mortgage and savings, high street peer group defined as providers with main current account market share >6% (Barclays, Halifax, HSBC, Lloyds Bank (inc C&G), NatWest and Santander).

-Ends-

Media information:

Sara Batchelor, 07785 344137, sara.batchelor@nationwide.co.uk

Eden Black, 07793596317, eden.black@nationwide.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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