Spirent Communications PLC Result of AGM (0719E)
03 May 2017 - 10:01PM
UK Regulatory
TIDMSPT
RNS Number : 0719E
Spirent Communications PLC
03 May 2017
SPIRENT COMMUNICATIONS PLC
RESULTS OF 2017 ANNUAL GENERAL MEETING
London, UK - 3 May 2017: Spirent Communications plc ("the
Company") (LSE: SPT), a leading communications technology company,
announces that at the 2017 Annual General Meeting ("2017 AGM") of
the Company held earlier today, all resolutions as set out in the
Notice of 2017 AGM dated 29 March 2017 were duly passed by
shareholders on a show of hands.
In accordance with Listing Rule 9.6.18R, the following
resolutions are those which were passed at the meeting concerning
special business (as defined by the Company):
Resolution 11: Approval of the authority for the directors to
allot securities;
Resolution 12: Approval of the authority for the Company to
disapply pre-emption rights;
Resolution 13: Approval of the authority for the Company to
market purchase up to 9.99 per cent of its own shares; and
Resolution 14: Approval of the authority for the Company to call
a general meeting on not less than 14 clear days' notice.
Certified copies of the document setting out the above
resolutions passed at the 2017 AGM have been submitted to the
National Storage Mechanism and will shortly be available for
inspection at www.morningstar.co.uk/uk/NSM
The results of the proxy voting in advance of the meeting and
Notice of 2017 AGM (giving the full text of each of the above
resolutions) can be viewed by visiting our website at
https://corporate.spirent.com/Investors/Shareholder_Meetings .
The Board of Directors notes the votes cast against Resolution
2, which sought shareholder approval of the Company's 2016 Report
on directors' remuneration. This represented the views of two
significant shareholders. The policy of one such shareholder is to
vote against any Remuneration Report where vesting of LTIP's is not
a minimum period of five years or three years plus a two-year
holding period post vesting. The other significant shareholder did
not disclose to the Company the reason for its vote against the
Remuneration Report. The Remuneration Committee will continue to
keep under review and consider the views of shareholders on the
issue of holding periods post vesting of LTIP awards. The Board
however notes that the Company's CEO currently has a beneficial
interest in 2,004,759 Spirent shares, well above the Board's
recommended holding of 100% of base salary, and this has been the
case for many years. Our new CFO is currently building her
beneficial holding having joined the Company in September 2016. The
Board believe the interests of management and shareholders are
aligned in this regard.
- ends -
Enquiries
Angus Iveson Spirent Communications
Company Secretary plc +44 (0)1293 767676
About Spirent Communications plc
Spirent Communications plc is a global leader in test and
measurement inspiring innovation within development labs,
communication networks and IT organisations. We enable today's
communication ecosystem as well as tomorrow's emerging enterprises
to deploy life enriching communications networks, devices, services
and applications. Further information about Spirent Communications
plc can be found at http://corporate.spirent.com/.
Spirent Communications plc Ordinary Shares are traded on the
London Stock Exchange (ticker: SPT). The Company operates a Level 1
American Depositary Receipt ("ADR") programme with each ADR
representing four Spirent Communications plc Ordinary Shares. The
ADRs trade in the US over-the-counter ("OTC") market under the
symbol SPMYY and the CUSIP number is 84856M209. Spirent ADRs are
quoted on the Pink OTC Markets electronic quotation service which
can be found at
http://www.otcmarkets.com/marketplaces/otc-pink.
Spirent and the Spirent logo are trademarks or registered
trademarks of Spirent Communications plc. All other trademarks or
registered trademarks mentioned herein are held by their respective
companies. All rights reserved.
Cautionary statement regarding forward-looking statements
This document may contain forward-looking statements which are
made in good faith and are based on current expectations or
beliefs, as well as assumptions about future events. You can
sometimes, but not always, identify these statements by the use of
a date in the future or such words as "will", "anticipate",
"estimate", "expect", "project", "intend", "plan", "should", "may",
"assume" and other similar words. By their nature, forward-looking
statements are inherently predictive and speculative and involve
risk and uncertainty because they relate to events and depend on
circumstances that will occur in the future. You should not place
undue reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to factors that
could cause our actual results to differ materially from those
expressed or implied by these statements. The Company undertakes no
obligation to update any forward-looking statements contained in
this document, whether as a result of new information, future
events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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