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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Ashtead Group plc    AHT   GB0000536739

ASHTEAD GROUP PLC

(AHT)
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ASHTEAD GROUP PLC : - Notice of AGM Results

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09/08/2020 | 12:13pm EDT

Ashtead Group PLC

AGM Statement and Smaller Related Party Transaction

8th September 2020

ASHTEAD GROUP PLC

(the “Company”)

AGM Statement & Results and Smaller Related Party Transaction

AGM Statement & Results

At the Annual General Meeting of the Company “Ashtead Group plc” held on 8th September 2020 at 2:30pm, all resolutions put to shareholders were duly passed on a poll with the required majorities. The full text of each resolution is contained in the Notice of Annual General Meeting. Resolutions 1 to 14 were passed as ordinary resolutions. Resolutions 15 – 19 were passed as special resolutions.

ORDINARY RESOLUTIONS Votes for (including discretionary votes) % Votes for * Votes against % Votes against * Total no. of votes validly cast Total % of voting capital voted (including withheld) ** Votes
withheld
1.     That the accounts for the year ended 30 April 2020, the directors’ report and the auditors’ report be adopted. 323,326,943 99.88 391,082 0.12 323,718,025 72.57 2,327,101
2.     That the directors’ remuneration report for the year ended 30 April 2020 be approved. 316,056,569 97.68 7,501,245 2.32 323,557,814 72.57 2,487,312
3.     That the final dividend 33.5 pence per ordinary share be declared for the year ended 30 April 2020. 326,029,819 100 6,774 0.00 326,036,593 72.57 8,534
4.     That Paul Walker be re-elected as a director. 321,538,589 98.88 3,649,334 1.12 325,187,923 72.57 857,203
5. That Brendan Horgan be re-elected as a director. 309,004,167 94.87 16,723,470 5.13 325,727,637 72.57 317,490
6.     That Michael Pratt be re-elected as a director. 325,022,518 99.69 1,014,261 0.31 326,036,779 72.57 8,348
7.     That Angus Cockburn be elected as a director. 322,373,729 99.53 1,533,672 0.47 323,907,401 72.57 2,137,725
8.     That Lucinda Riches be re-elected as a director. 323,606,752 99.26 2,428,684 0.74 326,035,436 72.57 9,691
9.     That Tanya Fratto be re-elected as a director. 323,610,560 99.26 2,421,876 0.74 326,032,436 72.57 12,691
10    That Lindsley Ruth be re-elected as a director. 319,551,296 98.66 4,354,762 1.34 323,906,058 72.57 2,139,068
11 That Jill Easterbrook be elected as a director. 326,022,514 100 12,022 0.00 326,034,536 72.57 10,591
12 That Deloitte LLP be re-appointed as auditor of the Company. 320,405,052 98.27 5,626,510 1.73 326,031,562 72.57 13,564
13.   That the directors be authorised to fix the remuneration of the
auditor of the Company.
324,626,014 99.57 1,406,521 0.43 326,032,535 72.57 12,591
14.  That the directors are authorised to allot the shares under section 551 (1) (a) and (b) of the Companies Act 2006. 314,889,115 96.58 11,144,162 3.42 326,033,277 72.57 11,850

SPECIAL RESOLUTIONS
Votes for (including discretionary votes) % Votes for * Votes against % Votes against * Total no. of votes validly cast Total % of voting capital voted (including withheld) ** Votes
withheld
15.   That the directors be empowered to disapply the provisions of section 561 (1) to (6) of the Companies Act 2006. 325,712,479 99.93 240,513 0.07 325,952,992 72.57 92,135
16.   That the directors be empowered to issue shares on a non
pre-emptive basis.
323,365,424 99.21 2,587,767 0.79 325,953,191 72.57 91,935
17. That the directors be authorised to make market purchases of the Company's shares under section 701 of the Companies Act. 317,588,120 97.47 8,245,151 2.53 325,833,271 72.57 211,855
18. That a general meeting other than an annual general meeting may be called on not less than 14 clear days’ notice. 307,847,816 94.42 18,187,491 5.58 326,035,307 72.57 9,820
19 That the capital of the Company be reduced by cancelling 2,840,000 ordinary shares of 10p each. 325,969,288 99.98 55,670 0.02 326,024,958 72.57 20,169

* A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes “for” and “against” a resolution.

** Percentage of issued share capital (excluding 4,885,000 treasury shares)

Smaller Related Party Transaction

As described in the Notice of Annual General Meeting (the "Notice") and as noted on page 103 of the Company's annual report and accounts for the year ended 2019, the interim dividend of 7.15 pence per ordinary share paid on 5 February 2020 (the "Interim Dividend") was made otherwise than in accordance with the Companies Act 2006.

Following approval from the Board (excluding the Relevant Directors (as defined in the Notice) who were precluded from voting) and as described in the Notice, today the Company has entered into the Interim Deeds of Release (as defined in the Notice) to release the Relevant Directors and the Recipient Shareholders (as defined in the Notice) from any liability to repay any amount of the Interim Dividend. The Relevant Directors are deemed to be related parties of the Company under the Listing Rules in the context of the Interim Deeds of Release and accordingly the entry by the Company into the Interim Deeds of Release falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c).

Contact:

Will Shaw – Investment Manager, 020 7726 9700

© PRNewswire 2020

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