SIG PLC Notice of GM (0937E)
16 October 2018 - 1:27AM
UK Regulatory
TIDMSHI
RNS Number : 0937E
SIG PLC
15 October 2018
15 October 2018
SIG plc
("SIG" or the "Company")
Publication of Circular convening a General Meeting
LEI: 213800VDC1BKJEZ8PV53
The Company has today published a circular convening a General
Meeting seeking shareholder approval for certain changes to
incentive arrangements for the Executive Directors and other Key
Executives of the Company (the "Circular").
As noted in the Remuneration Committee Report contained in the
Company's Annual Report and Accounts for the financial year ended
31 December 2017 (the "Annual Report"), at the time of publication
of the Annual Report, the Remuneration Committee was conducting a
review of the incentive arrangements for the Executive Directors
and other Key Executives of the Company and was consulting
extensively with the Company's main shareholders and the main
shareholder representative bodies in order to agree the appropriate
remuneration approach to support the strategy of the Company. This
dialogue was ongoing at the time of the 2018 Annual General Meeting
and therefore it was inappropriate to bring a new Remuneration
Policy and incentive plans to a shareholder vote at this meeting.
The Remuneration Committee has now completed its consultation
exercise and is keen to ensure that the new remuneration strategy
is in place as soon as possible to support the business strategy
given that no Long Term Incentive Plan ("LTIP") award has been made
this year.
The Circular contains further details on the background to, and
the reasons for, the proposals. The Circular also contains a notice
convening a General Meeting of the Company to be held at the
offices of Herbert Smith Freehills LLP at Exchange House, Primrose
Street, London EC2A 2EG at 12 noon on Wednesday 7 November 2018. A
summary of the resolutions to be proposed at the General Meeting is
set out below.
Resolution 1 - Approval of Directors' Remuneration Policy
(ordinary resolution)
Resolution 1 seeks approval of the Company's future Directors'
Remuneration Policy which if approved will take effect from the
conclusion of the General Meeting.
Resolution 2 - Approval of the SIG plc Bonus Plan (ordinary
resolution)
Resolution 2 seeks approval of the SIG plc Bonus Plan.
Resolution 3 - Approval of the SIG plc 2018 Long Term Incentive
Plan (ordinary resolution)
Resolution 3 seeks approval of the SIG plc 2018 Long Term
Incentive Plan.
SIG shareholders who have elected to receive paper copies of
shareholder communications from the Company will shortly receive a
copy of the Circular. SIG shareholders who have elected, or have
deemed to have elected, to receive electronic communications from
the Company will shortly receive a notification of availability of
the Circular on the Company's website
(www.sigplc.com/investors/information-for-shareholders/agm-notices-and-results).
In addition, the Circular will be available for inspection during
normal business hours on any business day at the offices of SIG plc
at 10 Eastbourne Terrace, London W2 6LG. A copy of the Circular and
the accompanying Form of Proxy have also been submitted to the
National Storage Mechanism and will shortly be available for
inspection at www.Morningstar.co.uk/uk/NSM.
For further information, contact:
SIG plc
Richard Monro, Company Secretary +44 (0) 114 285 6300
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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