Vistry Group PLC Result of Meeting (8352K)
30 Agosto 2023 - 1:30PM
UK Regulatory
TIDMVTY
RNS Number : 8352K
Vistry Group PLC
30 August 2023
30 August 2023
Vistry Group PLC
Results of General Meeting
At the general meeting of Vistry Group PLC ("Company" or
"Vistry") held on Wednesday 30 August 2023 (the "GM"), all
resolutions put to the GM were voted on by poll and were passed by
shareholders. The results will be available shortly on the
Company's website www.vistrygroup.co.uk.
In accordance with Listing Rule 9.6.2R, copies of the
resolutions that do not constitute ordinary business at an annual
general meeting are being submitted to the National Storage
Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For information, the results of the poll voting are given
below:
Resolution(3) Total For(1) Total Against Votes
withheld(2)
No. of % of No. of % of % of No. of
votes votes votes vote issued votes
cast cast share
capital(4)
-------------------- ------- ------------------------ ------- ----------------------
1. To approve
the Revised
Policy. 158,750,720 54.80% 130,937,427 45.20% 83.79% 2,365,709
-------------------- ------- ------------------------ ------- ----------- ----------------------
2. To approve
amendments to
the LTIP
implementing
the Revised
Policy. 160,144,510 55.28% 129,544,936 44.72% 83.79% 2,364,410
-------------------- ------- ------------------------ ------- ----------- ----------------------
3. To approve
amendments to
the DBP
implementing
the Revised
Policy. 270,581,528 92.67% 21,417,962 7.33% 84.46% 54,366
-------------------- ------- ------------------------ ------- ----------- ----------------------
(1) Includes discretionary votes.
(2) A 'vote withheld' is not a vote in law and is therefore not
counted in the calculation of the proportion of votes 'For' or
'Against' a resolution.
(3) Full details and the text of the resolutions, together with
explanatory notes, were set out in the Vistry circular to
shareholders and notice of the GM, which is available on Vistry's
website at www.vistrygroup.co.uk/general-meetings (the "Vistry
Circular")
(4) As at 6.30pm (London time) on 25 August 2023 (being the time
at which ordinary shareholders who wanted to attend, speak and vote
at the GM were required to have their details entered on Vistry's
Register of Members), the issued share capital was 347,235,591
ordinary shares of 50p each with 1,500,000 shares held in Treasury.
Therefore, the total voting rights of the Company is
345,735,591.
While pleased that all resolutions have been approved by a
majority of shareholders, the Board notes that a significant number
of shareholders opposed the approval of the Revised Policy
(Resolution 1) and the associated amendments to the LTIP
(Resolution 2). Ahead of the General Meeting, the Board and the
Remuneration Committee consulted extensively with shareholders in
relation to the proposed revised Directors' Remuneration Policy,
which was designed following the significant enlargement of the
business and to incentivise the creation of shareholder value over
the long-term. The Board is grateful to shareholders for their
engagement and acknowledges that through the engagement process
shareholders expressed different perspectives. The Company remains
committed to ongoing shareholder engagement and will continue to do
so to ensure that the Company understands shareholders' views and
is able to consider feedback, as well as to provide clarity on the
Company's approach to remuneration going forward.
In accordance with UK Corporate Governance Code requirements,
the Board confirms that it will publish an update on shareholder
engagement within six months of the General Meeting.
Capitalised terms used but not defined in this announcement have
the same meaning as set out in the Vistry Circular.
Enquiries:
Vistry Group PLC
Tim Lawlor, Chief Financial Officer
Clare Bates, General Counsel & Company Secretary
Susie Bell, Group Investor Relations Director 07469 287335
FTI Consulting
Richard Mountain / Susanne Yule 020 3727 1340
Further information
This announcement is for information purposes only and does not
constitute an offer to sell or an invitation to purchase any
securities or the solicitation of an offer to buy any securities.
This announcement does not constitute a prospectus or prospectus
exempted document. No shares are not being offered to the public by
means of this announcement.
The release, publication or distribution of this announcement in
or into certain jurisdictions other than the United Kingdom may be
restricted by law. Persons who are not resident in the United
Kingdom or who are subject to other jurisdictions should inform
themselves of, and observe, any applicable requirements.
No statement in this announcement is intended as a profit
forecast or estimate for any period and no statement in this
announcement should be interpreted to mean that earnings or
earnings per share for Vistry for the current or future financial
years would necessarily match or exceed the historical published
earnings or earnings per share for Vistry.
Vistry's legal entity identifier is 2138001KOWN7CG9SLK53.
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END
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