Jupiter Fund Management PLC

AGM Information • May 21, 2020

National Storage Mechanism | Additional information

RNS Number : 6652N

Jupiter Fund Management PLC

21 May 2020

21 May 2020

Jupiter Fund Management plc (the "Company")

Results of the General Meeting and the Annual General Meeting

The Board is pleased to announce the results of both the General Meeting, to approve the acquisition of Merian Global Investors Limited ("Merian"), and the Annual General Meeting ("AGM") of the Company held today, 21 May 2020, at The Zig Zag Building, 70 Victoria Street, London SW1E 6SQ.

All resolutions proposed at both the General Meeting and Annual General Meeting were passed by the requisite majorities.

Andrew Formica, Chief Executive, commented:

"We are delighted by the support from our shareholders for the acquisition of Merian, which reflects the strong strategic and financial rationale for the transaction.  Whilst completion of the acquisition remains conditional on a small number of provisions, including the receipt of customary regulatory approvals, this is an important milestone. We remain on track to complete the acquisition on, or as soon as possible after, 1 July 2020 and have been working closely with colleagues at Merian on the integration, which is progressing smoothly despite the lockdown."

Results of the General Meeting

Resolution	For	% of total votes cast	Against	% of total votes cast	Total votes cast	Votes withheld*
To approve the acquisition of Merian Global Investors Limited and authorise the Directors to allot the consideration shares	348,500,180	95.04	18,199,862	4.96	366,700,042	18,694,296

The results of the resolution proposed at the General Meeting, decided by way of poll, is set out below.

*Please note that 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution, or in the 'percentage of total votes cast'.

A total of 385,394,338 shares, representing 84.2% of the issued share capital, was voted at the General Meeting.

Results of the AGM

The results of the AGM resolutions, all decided by way of poll, are set out below.

Resolutions	For	% of total votes cast	Against	% of total votes cast	Total votes cast	Votes withheld*
1. To receive the report of the Directors and the Accounts of the Company for the year ended 31 December 2019	382,003,896	99.38	2,393,575	0.62	384,397,471	920,630
2. To approve the Annual Remuneration Report for the year ended 31 December 2019	373,197,433	97.01	11,511,682	2.99	384,709,115	608,986
3. To elect Wayne Mepham as a Director	383,172,717	99.60	1,540,670	0.40	384,713,387	604,714
4. To elect Nichola Pease as a Director	378,640,163	98.92	4,125,554	1.08	382,765,717	2,552,384
5. To re-elect Jonathon Bond as a Director	382,742,126	99.49	1,963,488	0.51	384,705,614	612,487
6. To re-elect Edward Bonham Carter as a Director	380,559,404	98.92	4,163,344	1.08	384,722,748	595,353
7. To re-elect Andrew Formica as a Director	383,212,523	99.61	1,507,945	0.39	384,720,468	597,633
8. To re-elect Karl Sternberg as a Director	276,263,699	72.43	105,135,649	27.57	381,399,348	3,918,753
9. To re-elect Polly Williams as a Director	383,361,767	99.65	1,343,950	0.35	384,705,717	612,384
10. To re-elect Roger Yates as a Director	382,742,126	99.49	1,973,649	0.51	384,715,775	602,326
11. To re-appoint PricewaterhouseCoopers LLP as the Company's auditors	377,296,472	98.07	7,417,821	1.93	384,714,293	603,808
12. To authorise the Audit and Risk Committee to set the remuneration of the auditor	379,598,369	98.67	5,121,914	1.33	384,720,283	597,818
13. To authorise the Directors to allot shares in the Company	382,795,699	99.50	1,921,294	0.50	384,716,993	601,108
14. To authorise political donations and political expenditure	381,625,275	99.20	3,072,582	0.80	384,697,857	620,244
15. To authorise the Directors to disapply pre-emption rights	384,583,050	99.97	115,861	0.03	384,698,911	619,190
16. To authorise the Company to purchase its own shares	382,229,736	99.38	2,403,891	0.62	384,633,627	684,474
17. To approve general meetings (other than annual general meetings) of the Company being called on 14 clear days' notice	374,536,325	97.36	10,171,485	2.64	384,707,810	610,291

*Please note that 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution, or in the 'percentage of total votes cast'.

A total of 385,318,101 shares, representing 84.2% of the issued share capital, was voted at the AGM.

The Board has considered the results of the AGM today and notes the level of votes cast against resolution 8, the re-election of Karl Sternberg, which received under 80% approval.  As previously disclosed, this is primarily driven by the votes of our largest shareholder, who applies a more stringent voting policy on directors' external commitments than is market practice.  Karl's external commitments are to listed investment trusts which require significantly less time commitment than a listed operating company.  The Board strongly supports Karl's re-appointment to the Board and throughout his tenure Karl has clearly demonstrated his commitment to the Company and ability to dedicate sufficient time to his duties. The Nomination Committee carefully monitor all directors external time commitments and would take appropriate action should concerns be identified.  In line with the requirements of the UK Governance Code, we will continue to engage with our major dissenting shareholders on this matter and provide the required updates on engagement. 

The issued share capital of the Company comprises 457,699,916 shares. Resolutions 15, 16 and 17 were passed as special resolutions.

The Company has today sent copies of the resolutions passed at the General Meeting and AGM concerning items other than ordinary business to the National Storage Mechanism and they are available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Details of proxy votes lodged will be available shortly on the Company's website at https://www.jupiteram.com/corporate/Investor-Relations/Shareholder-information/AGM-information

Jupiter Fund Management plc

LEI Number: 5493003DJ1G01IMQ7S28

For further information please contact:

	Investors	Media
Jupiter	Lisa Daniels +44 (0)20 3817 1664	Despina Constantinides +44 (0)20 3817 1278
Powerscourt	Justin Griffiths +44 (0)20 7250 1446

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