AGM Proxy Voting

01 Aug 2014

Summary of the Annual General Meeting held on 31 July 2014 at Exeter Golf and Country Club, Exeter, EX2 7AE

The Directors are pleased to announce that the shareholders of Pennon Group Plc at the Company's Annual General Meeting on Thursday, 31 July 2014 passed all the resolutions as set out in the Notice of Annual General Meeting dated 23 June 2014.

The following table summarises the proxy votes received from shareholders prior to the meeting. The highest percentage of the issued share capital voted was approximately 69.81%. Votes withheld are not votes in law and have not been counted in the calculation of the votes.

Resolution 1: To receive and adopt for the year ended 31 March 2014 the financial statements, the Directors' Report and the report of the independent auditors on the financial statements.
For: 267,170,286
Against: 3,573,165
Discretion: 618,845
Withheld: 1,298,893

Resolution 2: To declare a final dividend in respect of the year ended 31 March 2014 of 20.92p for each ordinary share of nominal value 40.7p for payment on 3 October 2014.
For: 272,011,225
Against: 20,233
Discretion: 610,459
Withheld: 19,273

Resolution 3: To approve the annual report on remuneration.
For:260,396,329
Against:11,389,176
Discretion: 615,700
Withheld: 259,985

Resolution 4: To approve the Directors' remuneration policy, as contained in the Company's Annual Report 2014.
For: 263,910,515
Against:7,865,436
Discretion: 620,884
Withheld: 264,354

Resolution 5: To re-elect Mr K G Harvey as a Director.
For: 250,506,425
Against: 18,304,641
Discretion: 626,583
Withheld: 3,223,540

Resolution 6: To re-elect Mr M D Angle as a Director.
For: 270,935,466
Against: 1,026,592
Discretion: 626,368
Withheld: 72,763

Resolution 7: To re-elect Mr G D Connell as a Director.
For: 247,999,753
Against: 19,289,856
Discretion: 632,222
Withheld: 4,739,358

Resolution 8: To re-elect Mr D J Dupont as a Director.
For: 269,516,714
Against: 2,444,263
Discretion: 633,323
Withheld: 66,890

Resolution 9: To re-elect Mr C Loughlin as a Director.
For: 269,573,791
Against: 2,235,011
Discretion: 627,241
Withheld: 225,147

Resolution 10: To elect Mr I J McAulay as a Director.
For: 269,597,910
Against: 2,189,746
Discretion: 640,625
Withheld: 232,909

Resolution 11: To elect Ms G A Rider as a Director.
For: 269,919,015
Against: 711,209
Discretion: 635,811
Withheld: 1,395,154

Resolution 12: To reappoint Ernst & Young LLP as auditors of the Company.
For: 261,678,704
Against: 7,286,523
Discretion: 634,042
Withheld: 3,061,921

Resolution 13: To authorise the Directors to fix the remuneration of the Auditors.
For: 238,106,477
Against: 30,461,335
Discretion: 637,397
Withheld: 3,455,981

Resolution 14: To authorise the Company and its subsidiaries to make political donations (precautionary authority).
For: 269,627,922
Against: 2,205,240
Discretion: 610,825
Withheld: 217,203

Resolution 15: To grant to Directors authority to allot shares.
For: 267,748,472
Against: 3,146,737
Discretion: 627,995
Withheld: 1,136,285

Resolution 16: To approve the updated rules of the Pennon Group Sharesave Scheme.
For: 270,503,082
Against: 1,311,453
Discretion: 633,069
Withheld: 213,586

Resolution 17: To approve the updated rules of the Pennon Group All Employee Share Ownership Plan.
For: 271,663,014
Against: 121,491
Discretion: 767,358
Withheld: 109,327

Resolution 18: To authorise the partial exclusion of the statutory pre-emption rights.
For: 271,359,361
Against: 245,656
Discretion: 771,790
Withheld: 284,383

Resolution 19:  To authorise the market purchase of the Company's own shares.
For: 270,956,035
Against: 898,417
Discretion: 760,364
Withheld: 46,374

Resolution 20: To authorise the Directors to offer a scrip dividend alternative.
For: 271,794,976
Against: 64,925
Discretion: 759,444
Withheld: 41,845

Resolution 21: To authorise a general meeting other than an Annual General Meeting to be called on 14 clear days' notice.
For: 259,637,814
Against: 12,216,412
Discretion: 768,580
Withheld: 38,384

Two copies of all the resolutions passed by the Company, other than resolutions concerning ordinary business, will be submitted and made available for inspection from the National Storage Mechanism at www.hemscott.com/nsm.do.

 

1 August 2014

www.pennon-group.co.uk