John Wood Group PLC (LON:WG.)

John Wood Group PLC (LON:WG.)


Share Price
397.80 p
Change
-2.8 (-0.70 %)
Market Cap
£2,711.16 m
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John Wood Group PLC RNS Release

WOOD GROUP (JOHN) PLC - Result of AGM


WOOD GROUP (JOHN) PLC - Result of AGM

PR Newswire

John Wood Group PLC (“Company”)

LEI:  549300PLYY6I10B6S323

Annual General Meeting – Voting Resultsy

Issued share capital at meeting date:  681,539,369

Number of votes per share:  1 vote per share

At the Annual General Meeting of John Wood Group PLC held on 9 May 2019, all resolutions put to shareholders were passed on a poll with the required majorities.

The full text of each resolution is contained in the Notice of Annual General Meeting, which is available on the Company's website www.woodplc.com 

The final vote received in respect of each resolution was as follows:

Votes For (Including Discretionary) % Votes Against % Votes Total % of Issued Share Capital Voted Votes Withheld*
1 Report & accounts 562,844,627 99.99% 83,938 0.01% 562,928,565 82.60% 707,823
2 Declaration of final dividend 543,974,639 96.51% 19,653,763 3.49% 563,628,402 82.70% 7,987
3 Remuneration report 456,721,589 81.78% 101,740,458 18.22% 558,462,047 81.94% 5,204,342
4 Re-elect Ian Marchant 517,393,958 92.08% 44,524,349 7.92% 561,918,307 82.45% 1,718,081
5 Re-elect Thomas Botts 562,231,047 99.76% 1,340,359 0.24% 563,571,406 82.69% 64,983
6 Re-elect Jan Brown 495,604,244 87.94% 67,969,447 12.06% 563,573,691 82.69% 62,697
7 Re-elect Jacqui Ferguson 559,874,110 99.34% 3,699,077 0.66% 563,573,187 82.69% 63,202
8 Re-elect Roy Franklin 558,471,397 99.10% 5,095,571 0.90% 563,566,968 82.69% 69,421
9 Re-elect Mary Shafer-Malicki 521,365,636 92.51% 42,210,515 7.49% 563,576,151 82.69% 60,238
10 Re-elect Jeremy Wilson 503,434,823 89.33% 60,134,598 10.67% 563,569,421 82.69% 66,966
11 Re-elect Robin Watson 563,347,229 99.96% 227,304 0.04% 563,574,533 82.69% 61,856
12 Re-elect David Kemp 562,518,950 99.81% 1,055,994 0.19% 563,574,944 82.69% 61,445
13 Re-appointment of KPMG LLC as auditors 563,532,979 99.99% 63,050 0.01% 563,596,029 82.69% 40,360
14 Authorisation of auditors' remuneration 563,558,941 99.99% 54,664 0.01% 563,613,605 82.70% 22,784
15 Authority to allot shares 469,069,892 83.23% 94,526,844 16.77% 563,596,736 82.69% 39,653
16 Disapplication of pre-emption rights 557,039,319 98.85% 6,487,868 1.15% 563,527,187 82.68% 109,202
17 Additional authority to disapply pre-emption rights 509,345,598 90.39% 54,182,334 9.61% 563,527,932 82.68% 108,456
18 Authority to purchase own shares 561,294,509 99.60% 2,263,606 0.40% 563,558,115 82.69% 78,273
19 Notice of general meetings 503,095,628 89.62% 58,285,394 10.38% 561,381,022 82.37% 2,255,367

* A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against' a resolution.

Resolutions 16 to 19 were considered and passed as Special Resolutions.

On 2 May 2019, ahead of the AGM, the company announced that the participation levels in the Long-Term Plan (LTIP) for the performance period beginning 2019, as disclosed in the Remuneration Report, of 250% of annual base salary for our Chief Executive, Robin Watson, and of 200% for our CFO, David Kemp, would be cancelled as mutually agreed by the Board, Robin and David. Although the Board remains concerned about longer term retention for senior management, including executive directors, and the external competitive environment for talent, it was agreed that the participation levels would return to the previous levels of 200% and 175% respectively.

The Remuneration Committee note the concerns raised and will further engage with shareholders in the coming months to ensure shareholder views are fully considered and the interests of shareholders are aligned to the Company’s reward principles.  The Remuneration Committee will reflect on feedback received and use it to inform the Company’s Remuneration Policy which will be subject to approval at the Company’s 2020 annual general meeting. 

These votes are available on the Company’s website at:   www.woodplc.com

In accordance with LR 9.6.2, those resolutions passed at today's AGM which are required to be made available for inspection will shortly be available to view at www.morningstar.co.uk/uk/NSM.

Notification authorised by:

Martin J McIntyre

Company Secretary

John Wood Group PLC Timeline

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