IP Group PLC — AGM Information 2022

Jun 14, 2022

National Storage Mechanism | Additional information

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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