Result of 2020 Annual General Meeting (AGM)
FirstGroup plc (the 'Company') announces that, at the AGM held earlier today, all resolutions were passed by the Company’s shareholders on a poll. The results of the poll are shown in the table below and will also be available on the Company’s website.
|Number of Votes||% of Vote||Number of Votes||% of Vote||Number of Votes||Number of Votes|
|1||To receive the Annual Report and Financial Statements for the year ended 31 March 2020||982,886,516||99.99||131,056||0.01||983,017,572||840,073|
|2||To approve the Directors’ Annual Report on Remuneration||976,349,874||99.25||7,379,537||0.75||983,729,411||128,233|
|3||To elect David Martin as a Director||811,701,238||94.30||49,076,934||5.70||860,778,172||123,079,473|
|4||To elect Sally Cabrini as a Director||811,867,247||94.32||48,871,743||5.68||860,738,990||123,118,655|
|5||To re-elect Warwick Brady as a Director||802,680,264||93.26||58,050,937||6.74||860,731,201||123,126,444|
|6||To re-elect Steve Gunning as a Director||792,022,899||80.52||191,651,845||19.48||983,674,744||182,901|
|7||To re-elect Mathew Gregory as a Director||691,308,920||70.28||292,361,546||29.72||983,670,466||187,179|
|8||To re-elect Ryan Mangold as a Director||810,847,451||94.20||49,883,944||5.80||860,731,395||123,126,250|
|9||To re-elect Martha Poulter as a Director||800,780,150||81.41||182,897,941||18.59||983,678,091||179,554|
|10||To re-elect David Robbie as a Director||811,486,059||82.50||172,173,404||17.50||983,659,463||198,182|
|11||To re-elect Julia Steyn as a Director||817,346,973||94.96||43,395,647||5.04||860,742,620||123,115,025|
|12||To approve the appointment of PrincewaterhouseCoopers LLP as auditors||978,323,661||99.45||5,420,824||0.55||983,744,485||113,160|
|13||To authorise the Directors to determine the remuneration of the auditors||837,349,353||99.96||307,505||0.04||837,656,858||146,200,787|
|14||To authorise the Directors to allot shares||810,543,908||98.77||10,078,005||1.23||820,621,913||163,235,732|
|15||To authorise the Directors to disapply pre-emption rights||814,386,118||82.79||169,267,021||17.21||983,653,139||204,506|
|16||To disapply pre-emption rights for acquisitions or other capital investments||813,479,929||82.70||170,165,945||17.30||983,645,874||211,770|
|17||To authorise the Directors to make market purchases of the Company’s shares||973,997,468||99.06||9,265,059||0.94||983,262,527||595,117|
|18||To authorise the Company to make political donations and incur political expenditure||748,497,944||91.21||72,132,509||8.79||820,630,453||163,227,192|
|19||To adopt new Articles of Association||983,312,195||99.97||304,696||0.03||983,616,891||240,754|
|20||To authorise the calling of general meetings on 14 clear days’ notice||962,795,298||97.86||21,019,105||2.14||983,814,403||43,242|
Votes 'For' and 'Against' are expressed as a percentage of votes received. A 'Vote withheld' is not a vote in law and is not counted in the calculation of the votes 'For' and 'Against' a resolution. Votes were cast for a total of 983,857,645 ordinary shares of 5 pence per share, representing 80.60% of the total number of votes capable of being cast at the AGM. The Company's issued share capital as at today's date is 1,220,859,462 ordinary shares and the number of votes per share is one. The Company held 157,229 shares in Treasury, which do not carry any voting rights. Resolutions 1 to 14, and 18 were proposed as Ordinary Resolutions and resolutions 15 to 17, 19 and 20 as Special Resolutions.
Commenting on the voting results, FirstGroup Chairman David Martin said:
“We welcome the support shown by the majority of our shareholders today. I am confident that the Board has the necessary mix of skills, experience and knowledge to unlock material value through the sale of our North American businesses, and we are intent on achieving this as expediently as possible and in the best interests of all shareholders.
“As noted in the trading statement issued this morning, the Group has delivered a stronger than expected financial performance so far this year, has increased its available liquidity and continues to take all necessary action to protect the business for the longer term.
“The Board takes seriously its responsibility to understand the views and perspectives of shareholders, and as part of this ongoing commitment, we engaged widely ahead of this AGM. We are disappointed but aware of the views of certain investors who represent more than 20% of the issued share capital, who voted against resolution 7 today. We are committed to continuing a constructive and open dialogue on this and all other matters with our shareholders.”
Contacts at FirstGroup:
Faisal Tabbah, Head of Investor Relations
Stuart Butchers, Group Head of Communications
Silvana Glibota-Vigo, Deputy Company Secretary
Tel: +44 (0) 20 7725 3354
Contacts at Brunswick PR:
Andrew Porter / Simone Selzer, Tel: +44 (0) 20 7404 5959
Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR 6 Annex 1R: 3.1.
FirstGroup plc (LSE: FGP.L) is a leading provider of transport services in the UK and North America. With £7.8 billion in revenue in 2020 and around 100,000 employees, we transported 2.1 billion passengers. Whether for business, education, health, social or recreation – we get our customers where they want to be, when they want to be there. We create solutions that reduce complexity, making travel smoother and life easier. We provide easy and convenient mobility, improving quality of life by connecting people and communities. Each of our five divisions is a leader in its field: in North America, First Student is the largest provider of home-to-school student transportation with a fleet of 43,000 yellow school buses, First Transit is one of the largest providers of outsourced transit management and contracting services, while Greyhound is the only nationwide operator of scheduled intercity coaches. In the UK, First Bus is one of Britain's largest bus companies with 1.4 million passengers a day in 2020, and First Rail is one of the country's most experienced rail operators, carrying 340 million passengers in the year. Visit our website at www.firstgroupplc.com and follow us @firstgroupplc on Twitter.