Result of Annual General Meeting

12 January 2021

Carr's (CARR.L), the Agriculture and Engineering Group, confirms that all resolutions proposed at its Annual General Meeting ("AGM") held at 11:30am today, 12 January 2021, were passed by shareholders.

Due to Government measures taken in response to the COVID-19 pandemic, the AGM was held as a closed meeting. Shareholders were encouraged to vote by proxy, and to submit any questions in advance of the meeting by email. Copies of the questions received by shareholders, together with responses, will be published in writing on the Company's website. Such questions will also be addressed in the Company's broadcast which is expected to be released on the Company's website later today at https://www.carrsgroup-ir.com/.

All resolutions were put to the meeting and approved on a poll, and the results are set out below. Votes withheld do not count in the number of votes counted for or against a resolution.

Resolution

Number of votes for

% of votes for

Number of votes against

% of votes against

Number of votes withheld

Total votes cast

1. Receive Annual Report and Accounts

48,332,849

99.97

14,694

0.03

0

48,347,543

2. Declare final dividend

48,347,544

100.00

0

0

0

48,347,544

3. Re-elect Peter Page

47,113,046

97.46

1,226,513

2.54

7,984

48,347,543

4. Elect Hugh Pelham

48,263,640

99.86

67,270

0.14

16,634

48,347,544

5. Re-elect Neil Austin

48,303,596

99.93

35,964

0.07

7,984

48,347,544

6. Re-elect Alistair Wannop

47,016,481

97.26

1,323,079

2.74

7,984

48,347,544

7. Re-elect John Worby

47,120,347

97.48

1,219,213

2.52

7,984

48,347,544

8. Re-elect Ian Wood

47,109,473

97.46

1,230,087

2.54

7,984

48,347,544

9. Elect Kristen Eshak Weldon

48,243,856

99.81

93,411

0.19

10,277

48,347,544

10. Re-appoint KPMG LLP as Auditor

48,145,735

99.62

184,688

0.38

17,121

48,347,544

11. Authorise remuneration of Auditor

48,300,748

99.92

38,339

0.08

8,457

48,347,544

12. Approve Remuneration Policy

48,147,902

99.67

160,664

0.33

38,977

48,347,543

13. Approve Remuneration Report

26,350,202

54.53

21,972,845

45.47

24,496

48,347,543

14. Authorise allotment of shares

48,110,157

99.63

176,747

0.37

60,640

48,347,544

15. Disapply pre-emption (general)

48,038,080

99.42

277,974

0.58

31,490

48,347,544

16. Disapply pre-emption (investments)

48,050,152

99.45

265,901

0.55

31,490

48,347,543

17. Authorise purchase of own shares

48,175,303

99.67

157,483

0.33

14,757

48,347,543

18. Meetings on 14 days' notice

48,202,039

99.72

133,505

0.28

12,000

48,347,544

 

The Board notes that although resolution 13, to approve the Directors' Remuneration Report, was passed, 45.47% of votes cast were against.  During 2020, the Remuneration Committee wrote to the Company's largest shareholders in relation to proposed changes to its Remuneration Policy and a review, supported by benchmarking, of the base salaries of the Company's Executive Directors. The Company also engaged directly with a number of shareholders prior to the AGM. The Company notes that its revised Remuneration Policy has been approved with overwhelming support (resolution 12 above). The Company will consult further with shareholders to better understand their views and provide an update within six months as required by the Corporate Governance Code 2018.

The total number of votes cast was 48,347,544 which represents 52% of the Company's shareholders.  The Board is always open to constructive dialogue with shareholders and is grateful to all those who took the time to consider and vote on the resolutions proposed.

In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority (FCA), a copy of the resolutions passed as Special Business at the AGM have been submitted to the UK Listing Authority and will be available for public inspection at the National Storage Mechanism (NSM) https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

Enquiries:

Carr's Group plc
Matthew Ratcliffe, Company Secretary

Tel: +44 (0) 1228 554 600

About Carr's Group plc:

Carr's is an international leader in manufacturing value added products and solutions, with market leading brands and robust market positions in Agriculture and Engineering, supplying customers in over 50 countries around the world.

Its Agriculture division manufactures and supplies feed blocks and supplementation products for livestock, distributes farm machinery and runs a UK network of rural stores, providing a one-stop shop for the farming community. Its Engineering division designs and manufactures bespoke equipment and provides technical engineering services into the nuclear, petrochemical, oil and gas, pharmaceutical, process and renewable energy industries, including robotic and remote handling equipment.

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