Redrow PLC

AGM Information • Nov 9, 2017

National Storage Mechanism | Additional information

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RNS Number : 0939W

Redrow PLC

09 November 2017

9 November 2017

Redrow plc

Result of AGM

Redrow plc (the "Company") announces that at its annual general meeting ("AGM") held earlier today all resolutions put to the meeting, except Resolution 16, were passed by way of a poll and the results of the poll are set out below. For shareholders' information, the current issued share capital of the Company is 369,799,938 shares and shareholders are entitled to one vote per share held.

		Votes For (inc. discretionary)		Votes Against		Votes Total (exc. Votes Withheld)
	Resolution	No. of shares	%	No. of shares	%	No. of shares	% of ISC*** Voted	Votes Withheld	Votes Total (inc. Withheld)
1	To receive the 2017 Directors' and Auditors' reports and financial statements	296,954,482	99.96	112,428	0.04	297,066,910	80.33	174,827	297,241,737
2	To approve the final dividend	297,203,430	99.99	37,600	0.01	297,241,030	80.38	509	297,241,539
3	To re-appoint Steve Morgan as a director	291,592,553	98.77	3,623,086	1.23	295,215,639	79.83	2,026,098	297,241,737
4	To re-appoint John Tutte as a director	295,961,647	99.57	1,278,459	0.43	297,240,106	80.38	1,631	297,241,737
5	To re-appoint Barbara Richmond as a director	295,128,771	99.29	2,108,610	0.71	297,237,381	80.38	4,356	297,241,737
6	To re-appoint Debbie Hewitt as a director	277,598,398	93.39	19,636,905	6.61	297,235,303	80.38	6,434	297,241,737
6*	To re-appoint Debbie Hewitt as a director	156,890,020	88.88	19,636,905	11.12	176,526,925	70.90	6,434	176,533,359
7	To re-appoint Nick Hewson as a director	292,684,464	98.47	4,554,538	1.53	297,239,002	80.38	2,735	297,241,737
7*	To re-appoint Nick Hewson as a director	171,976,086	97.42	4,554,538	2.58	176,530,624	70.90	2,735	176,533,359
8	To re-appoint Sir Michael Lyons as a director	293,212,740	98.65	4,025,738	1.35	297,238,478	80.38	3,259	297,241,737
8*	To re-appoint Sir Michael Lyons as a director	172,504,362	97.72	4,025,738	2.28	176,530,100	70.90	3,259	176,533,359
9	To appoint Vanda Murray as a director	296,786,226	99.85	443,351	0.15	297,229,577	80.38	12,160	297,241,737
9*	To appoint Vanda Murray as a director	176,077,848	99.75	443,351	0.25	176,521,199	70.89	12,160	176,533,359
10	To re-appoint PricewaterhouseCoopers LLP as Auditors	282,389,430	95.01	14,841,849	4.99	297,231,279	80.38	10,458	297,241,737
11	To authorise the Directors to determine the Auditors fees	271,761,284	91.43	25,467,369	8.57	297,228,653	80.38	13,084	297,241,737
12	To approve the Directors' remuneration report	294,952,301	99.96	115,267	0.04	295,067,568	79.79	2,174,169	297,241,737
13	To approve the Directors' remuneration policy	295,928,671	99.97	88,112	0.03	296,016,783	80.05	1,224,954	297,241,737
14	To increase the cap on the level of ordinary remuneration of the Non-Executive Directors	294,942,698	99.61	1,167,393	0.39	296,110,091	80.07	1,129,991	297,240,082
15	To give the Directors authority to allot shares in the Company	294,319,154	99.03	2,892,378	0.97	297,211,532	80.37	25,103	297,236,635
16**	To approve the Rule 9 obligation waiver granted by the Panel	72,542,553	41.32	103,031,845	58.68	175,574,398	47.48	958,961	176,533,359
17	To dis-apply pre-emption rights (general power)	297,115,755	99.97	103,375	0.03	297,219,130	80.37	22,607	297,241,737
18	To dis-apply pre-emption rights (additional power for financing specific transactions)	293,480,511	98.74	3,736,924	1.26	297,217,435	80.37	24,302	297,241,737
19	To authorise the Company to purchase its own shares	289,039,518	97.46	7,522,630	2.54	296,562,148	80.20	671,389	297,233,537
20	To approve the calling of general meetings on 14 days' notice	290,391,672	97.71	6,808,378	2.29	297,200,050	80.37	22,521	297,222,571

N.B.         A 'vote withheld' is not a vote in law and is not counted in the proportion of votes 'for' or 'against' a resolution.  All percentages are calculated to two decimal places

* Following changes to the Listing Rules which took effect in May 2014, Resolutions 6, 7, 8 and 9 must be approved by a simple majority of all shareholders and by a simple majority of the independent shareholders, 6*, 7*, 8* and 9* above sets out the results of the independent shareholder vote.

** Resolution 16 was put to the AGM as a resolution of the independent shareholders of the Company. As a result, 248,991,560 of the ordinary shares in issue were eligible to vote on this Resolution, these shares not being held by the Concert Party (as defined in the notice of AGM).

*** ISC = Issued Share Capital

The payment date of the dividend approved by Resolution 2 will be 14 November 2017.

The Board notes that a majority of independent shareholders have voted against Resolution 16, which sought approval of the terms of the Waiver (as defined in the Notice of AGM). The Waiver would have permitted the Concert Party's percentage interest in the Company's shares to increase from 32.67% to a maximum of 36.30% (in each case representing 120,808,378 ordinary shares) as a result of share buy backs authorised by Resolution 19 without requiring the Concert Party to make a mandatory offer for other shareholders' shares.  The Board respects and values the views of shareholders and will assess the feedback it has received to inform future consultations, including ahead of future AGMs.

In compliance with Listing Rule 9.6.2R, copies of Resolutions 14, 15, 17, 18, 19 and 20 have been forwarded to the UK Listing Authority for publication through the National Storage Mechanism where they will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

Results of the poll can also be viewed on the Company's website at http://investors.redrowplc.co.uk/shareholder-information.

Graham Cope

Company Secretary

01244 520044

This information is provided by RNS

The company news service from the London Stock Exchange

END

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