TIDMRTO
RNS Number : 4498Y
Rentokil Initial PLC
12 May 2021
RESULTS OF ANNUAL GENERAL MEETING 2021 ('AGM')
At the AGM of Rentokil Initial plc duly convened and held at,
and broadcast from, the Power Centre, A1 & A2, Link 10, Napier
Way, Crawley, RH10 9RA on 12 May 2021 at 14:00, each resolution as
set out in the notice of meeting dated 31 March 2021 was passed on
a poll. The results are set out below and will be placed on the
Company website at www.rentokil-initial.com/investors .
VOTES % of VOTES
RESOLUTION VOTES FOR(1) % AGAINST % TOTAL VOTES ISC VOTED WITHHELD(2)
To receive
the audited
financial
statements
and the directors'
and auditors'
1 report thereon 1,451,530,684 100.00 13,163 0.00 1,451,543,847 78.07% 1,433,004
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To approve
the 2021
Directors'
Remuneration
2 Policy 1,117,630,721 77.39 326,479,806 22.61 1,444,110,527 77.67% 8,866,324
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To approve
the Directors'
Remuneration
3 Report 1,400,164,692 97.12 41,500,982 2.88 1,441,665,674 77.54% 11,311,177
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To approve
the amended
rules of
the Performance
Share Plan
4 2016 1,098,420,082 75.62 354,060,691 24.38 1,452,480,773 78.12% 496,078
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To declare
5 a final dividend 1,447,816,095 99.67 4,805,131 0.33 1,452,621,226 78.13% 355,625
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To elect
Stuart Ingall-Tombs
6 as a director 1,451,367,529 99.92 1,193,412 0.08 1,452,560,941 78.12% 415,910
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To elect
Sarosh Mistry
7 as a director 1,452,279,328 99.98 272,836 0.02 1,452,552,164 78.12% 424,687
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To re-elect
John Pettigrew
8 as a director 1,441,873,301 99.26 10,689,934 0.74 1,452,563,235 78.12% 413,616
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To re-elect
Andy Ransom
9 as a director 1,452,427,979 99.99 132,664 0.01 1,452,560,643 78.12% 416,208
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To re-elect
Richard Solomons
10 as a director 1,446,668,103 99.59 5,889,228 0.41 1,452,557,331 78.12% 419,520
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To re-elect
Julie Southern
11 as a director 1,418,461,142 97.65 34,099,444 2.35 1,452,560,586 78.12% 416,265
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To re-elect
Cathy Turner
12 as a director 1,438,081,599 99.00 14,478,767 1.00 1,452,560,366 78.12% 416,485
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To re-elect
Linda Yueh
13 as a director 1,401,390,279 96.48 51,172,207 3.52 1,452,562,486 78.12% 414,365
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To appoint
PricewaterhouseCoopers
14 LLP as auditor 1,444,950,371 99.48 7,601,982 0.52 1,452,552,353 78.12% 424,498
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To authorise
the directors
to agree
the auditors'
15 remuneration 1,452,535,527 100.00 66,437 0.00 1,452,601,964 78.12% 374,887
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To authorise
the making
of political
16 donations 1,445,039,050 99.49 7,473,760 0.51 1,452,512,810 78.12% 464,041
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To authorise
the directors
to allot
17 shares 1,319,993,744 90.88 132,499,021 9.12 1,452,492,765 78.12% 484,086
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To disapply
statutory
pre-emption
18 rights 1,437,986,861 99.36 9,266,646 0.64 1,447,253,507 77.84% 5,723,344
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To disapply
statutory
pre-emption
rights -
additional
19 5% 1,413,035,077 97.63 34,239,433 2.37 1,447,274,510 77.84% 5,702,341
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To authorise
the directors
to make market
purchases
of the Company's
20 own shares 1,439,152,453 99.12 12,762,645 0.88 1,451,915,098 78.09% 1,061,753
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
To authorise
the calling
of a general
meeting (other
than an AGM)
on 14 days'
21 clear notice 1,400,691,754 96.46 51,328,941 3.54 1,452,020,695 78.09% 392,131
----------------------- -------------- ------- ------------ ------ -------------- ----------- ------------
1. Votes For include those votes giving the Chairman
discretion.
2. A vote withheld is not a vote in law and is not counted in
the calculation of proportion of votes cast for or against a
resolution.
The number of ordinary shares in issue at close of business on
11 May 2021 was 1,859,332,965 ordinary shares of 1p each.
Resolutions 18 to 21 were proposed as special resolutions. A copy
of the resolutions can be found in the Notice of Meeting available
at www.rentokil-initial.com/agm .
The Company welcomes the approval by shareholders of its
Remuneration Policy and Remuneration Report, however it notes the
number of votes opposing the Remuneration Policy (resolution 2) and
the amendments to the Company's Performance Share Plan (PSP) rules
required to reflect the new Policy (resolution 4).
A significant majority of shareholders were supportive of the
Remuneration Policy and proposed change to PSP, including 19 out of
our 20 largest shareholders.
As detailed in the Company's 2020 Annual Report, we consulted at
length with the Company's largest shareholders as well as proxy
advisers, Glass Lewis, the Investment Association and ISS, on the
proposals set out in the Remuneration Policy. The strong
performance and increased size of the business has resulted in the
total remuneration package of the Chief Executive benchmarking just
above lower quartile. This policy would deliver market median and,
consistent with our culture, any potential for higher remuneration
would be fully performance based and long term. No change to base
salary or annual bonus potential has been proposed.
The Board is grateful for the time, feedback and support
provided by shareholders on these matters and will continue its
policy of proactive engagement with its shareholders on all aspects
of remuneration going forward. In accordance with the UK Corporate
Governance Code, the Company will publish an update on ongoing
engagement within six months of the AGM.
A copy of the resolutions passed concerning special business has
been submitted and will shortly be available
for inspection at the National Storage Mechanism located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
Enquiries:
Rentokil Initial
Company Secretary: Daragh Fagan plc 01294 858000
Rentokil Initial
Media: Malcolm Padley plc 07788 978199
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END
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