Gooch & Housego PLC Update on 2021 AGM Resolutions (6321G)
27 July 2021 - 9:20PM
UK Regulatory
TIDMGHH
RNS Number : 6321G
Gooch & Housego PLC
27 July 2021
For immediate release 27 July 2021
.
Gooch & Housego PLC
("G&H" or the "Group")
Update on 2021 AGM Resolutions
At the February 2021 Annual General Meeting ("AGM") of Gooch
& Housego PLC (AIM: GHH), two resolutions were passed that
received fewer than 80% of votes in favour: resolution 2 (to
receive and approve the Remuneration Committee report) and
resolution 6 (to re-elect Brian Phillipson, Chair of the
Remuneration Committee).
The Board understands that votes received against the above
resolutions related to the one-time LTIP award issued in early 2021
designed to ensure retention and incentivisation of our senior
management team (including the Executive Directors) during the
ongoing restructuring of our global manufacturing operations. The
Remuneration Committee undertook a consultation exercise with the
Company's largest shareholders in Q4 2020 and sought to reflect
feedback received in the final proposal.
Following the AGM vote, the Remuneration Committee undertook
further engagement with our major shareholders. The Committee
received limited further feedback as a result of this exercise but
was able to confirm the one-off nature of the LTIP award.
For further information
contact: -
Gooch & Housego
Mark Webster/Chris Jewell PLC 01460 256440
Mark Court /Sophie Wills/
Charlotte Slater Buchanan 020 7466 5000
Chris Baird/ David Anderson Investec Bank plc 020 7597 5970
Notes to editors
1. Gooch & Housego is a photonics technology business
headquartered in Ilminster, Somerset, UK with operations in the USA
and Europe. A world leader in its field, the company researches,
designs, engineers and manufactures advanced photonic systems,
components and instrumentation for applications in the Aerospace
& Defence, Industrial, Life Sciences and Scientific Research
sectors. World leading design, development and manufacturing
expertise is offered across a broad range of complementary
technologies.
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