Future PLC

AGM Information • Feb 10, 2021

National Storage Mechanism | Additional information

RNS Number : 6729O

Future PLC

10 February 2021

Future plc

10 February 2021

FUTURE PLC

Result of Annual General Meeting

The Board is pleased to note that all resolutions passed with the requisite majority of votes. Having consulted extensively with shareholders in recent months, the Board is pleased that Resolutions 3 and 18 passed with a majority of votes, but acknowledges that a proportion of shareholders voted against these Resolutions and their reasons for doing so.

The Remuneration Policy and Value Creation Plan reflect the constructive feedback we have received from shareholders during the consultation process, and recognise the key role that all Future's colleagues play in delivering our ambitious strategy. The Value Creation Plan is directly aligned to shareholder interests by incentivising and rewarding exceptional performance and the sustained delivery of further significant increases in shareholder value creation over the next 3-5 years. The Plan also reflects Future's culture, with participation extending throughout the Company, and the majority of the potential award being shared amongst the wider workforce.

Noting the outcome of Resolution 4, to approve the Directors' Remuneration Report, the Board acknowledges the feedback provided by shareholders on the salary increase awarded to the CEO. As set out in the Remuneration Report, the Company has continued to perform exceptionally, and grow in scale and complexity, since the last review of CEO salary in 2018. The Remuneration Committee concluded that an adjustment for 2021 was appropriate in this wider context (with no further increase to be awarded for at least two years).

The Board is grateful for the time and feedback provided by shareholders on these matters, and will continue to engage with shareholders. In accordance with the UK Corporate Governance Code, the Company will publish an update on ongoing engagement within six months of the AGM.

Resolutions 1 to 18 (inclusive) were passed as ordinary resolutions, resolutions 19 to 22 were passed as special resolutions.

The results of votes cast by proxy for each resolution were as follows:

Resolution	Votes for	%	Votes against	%	Total votes	% of ISC* voted	Votes withheld
1	86,935,018	99.98%	15,884	0.02%	86,950,902	88.71%	65,140
2	87,010,919	99.99%	5,107	0.01%	87,016,026	88.78%	17
3	53,001,306	64.24%	29,503,129	35.76%	82,504,435	84.18%	4,511,607
4	59,841,021	72.53%	22,663,448	27.47%	82,504,469	84.18%	4,511,573
5	78,233,779	96.68%	2,683,374	3.32%	80,917,153	82.56%	6,098,889
6	81,612,267	93.79%	5,403,622	6.21%	87,015,889	88.78%	153
7	86,845,633	99.81%	169,553	0.19%	87,015,186	88.78%	857
8	86,542,952	99.46%	471,909	0.54%	87,014,861	88.78%	1,182
9	84,282,924	96.86%	2,731,858	3.14%	87,014,782	88.78%	1,261
10	78,174,670	89.84%	8,841,236	10.16%	87,015,906	88.78%	136
11	84,100,010	96.65%	2,915,627	3.35%	87,015,637	88.78%	406
12	86,586,846	99.51%	429,061	0.49%	87,015,907	88.78%	136
13	85,305,793	98.04%	1,707,555	1.96%	87,013,348	88.78%	2,695
14	85,626,004	98.42%	1,375,286	1.58%	87,001,290	88.76%	14,753
15	84,857,811	97.53%	2,147,611	2.47%	87,005,422	88.77%	10,597
16	79,097,854	93.95%	5,090,403	6.05%	84,188,257	85.89%	2,827,786
17	86,982,055	99.98%	21,349	0.02%	87,003,404	88.77%	12,639
18	53,058,479	64.32%	29,433,615	35.68%	82,492,094	84.16%	4,523,948
19	82,420,442	94.72%	4,594,380	5.28%	87,014,822	88.78%	1,221
20	82,410,729	94.71%	4,604,010	5.29%	87,014,739	88.78%	1,303
21	85,823,747	98.63%	1,192,262	1.37%	87,016,009	88.78%	34
22	87,008,906	99.99%	5,780	0.01%	87,014,686	88.78%	1,357

* Issued share capital

Notes:

1.   As at the date of the AGM, the Company had 98,015,282 ordinary shares in issue. The Company did not hold any shares in treasury and therefore the number of total voting rights as at the date of the AGM was 98,015,282. 

2.   The full text of the resolutions is set out in the notice of annual general meeting, which can be found on pages 164 to 173 of the 2020 Annual Report.

3.   Percentages are expressed as a proportion of the total votes cast.

4.   A vote withheld is not a vote in law and is not included in the calculation of the votes "For" or "Against" the resolution.

5.   Any proxy appointments which gave discretion to the Chairman have been included in the "For" total.

A copy of the resolutions passed at the Annual General Meeting have been submitted to the National Storage Mechanism in accordance with Listing Rule 9.6.2R.

The proxy voting information will shortly be available on the Company's website at www.futureplc.com/invest-in-future

Enquiries:

Future      plc Anne Steele, Company Secretary Marion Le Bot, Head of Investor Relations	Tel: +44 (0)1225 442244
Media enquiries Stephen Malthouse / Rob Walker future@headlandconsultancy.com	Tel: +44 (0) 203 805 4822

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