Meggitt PLC Update on 2019 AGM resolution vote (5169O)
09 Ottobre 2019 - 11:00AM
UK Regulatory
TIDMMGGT
RNS Number : 5169O
Meggitt PLC
09 October 2019
Date: 9 October 2019
Meggitt PLC
(the "Company")
Update on 2019 AGM resolution vote
In accordance with the requirement of Provision 4 of the UK
Corporate Governance Code 2018 ("the Code"), Meggitt PLC ("the
Company") is providing this update following a significant vote
(defined as above 20%) against the resolution to re-elect Sir Nigel
Rudd (Chairman) at its annual general meeting ("AGM") held on 25
April 2019.
In advance of the AGM, ISS proxy advisors had recommended that
shareholders abstain from voting on this resolution due to concerns
regarding perceived 'overboarding'.
Prior to and following the AGM, the Board and Company has both
reviewed Sir Nigel's time commitments and engaged extensively with
significant shareholders on this topic.
The Board's unanimous conclusions remain that Sir Nigel has
sufficient capacity to dedicate the appropriate amount of time to
Meggitt. Many of our major shareholders share the Board's view that
Sir Nigel continues to provide excellent leadership of the Board
and his skill set, experience and knowledge are of significant
value to the Company.
The Company will continue to engage with shareholders on this
topic and the Board will keep Sir Nigel's portfolio of board
appointments under review.
In line with the Code, a further update will be provided in the
2019 Annual Report.
Enquiries:
Meggitt PLC +44(0)1202 597597
Marina Thomas, Group Company Secretary
(marina.thomas@meggitt.com)
Mat Wootton, VP Investor Relations
(mathew.wootton@meggitt.com)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
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