Spectris PLC PUBLICATION OF NOTICE CONVENING A GENERAL MEETING (1827T)
13 Noviembre 2019 - 5:00AM
UK Regulatory
TIDMSXS
RNS Number : 1827T
Spectris PLC
13 November 2019
SPECTRIS PLC
Publication of Notice convening a General MeetinG
13 November 2019 - Spectris plc ('Spectris' or the 'Company')
(LSE: SXS), the productivity-enhancing instrumentation and controls
company, announces that it has today published a Notice convening a
General Meeting seeking shareholder approval of certain changes to
the Remuneration Policy and associated incentive arrangements for
the Executive Directors and other senior management of the Company
(the 'Notice').
Following the communication of the Company's Strategy for
Profitable Growth at the Capital Markets Day in June 2019, the
Remuneration Committee has reviewed the Group's Remuneration Policy
and associated incentive arrangements to ensure their alignment
with the new strategy. Although the Company is not required to put
its Remuneration Policy to shareholders until the 2020 Annual
General Meeting, it is proposed that the Company's reward structure
be aligned with the implementation of the strategy from the
beginning of 2020.
The Company has discussed the Remuneration Policy with a large
number of shareholders and their main representative bodies and we
have made a number of adjustments to the proposed Policy based on
their valuable feedback (details of these adjustments and rationale
are set out in the Notice). We appreciate the time and input that
shareholders have given to the engagement process.
The Notice 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 Great
Fosters, Stroude Road, Egham, Surrey TW20 9UR on Wednesday 4
December 2019 at 3.30pm. A summary of the resolutions to be
proposed at the General Meeting is set out below.
Resolution 1 - Approval of the 2020 Directors' Remuneration
Policy (ordinary resolution)
Resolution 1 seeks approval of the Company's future Directors'
Remuneration Policy which, if approved, will take effect from 1
January 2020.
Resolution 2 - Approval of the Spectris Deferred Bonus Plan
(ordinary resolution)
Resolution 2 seeks approval of the Spectris Deferred Bonus Plan
(the 'DBP'). Under the proposed Remuneration Policy, 50% of any
annual bonus earned by Executive Directors will be awarded as
shares deferred for three years from the date of award. The DBP
will be used to make awards of deferred shares to the Executive
Directors under the deferred element of their annual bonus.
Resolution 3 - Approval of the Spectris Long Term Incentive Plan
(ordinary resolution)
Resolution 3 seeks approval of the Spectris Long Term Incentive
Plan. This plan replaces the existing Spectris Performance Share
Plan ('PSP') and shares many of the features of the PSP but has
been updated to reflect current legislation, best practice and
corporate governance requirements.
Resolution 4 - Approval of the Spectris Reward Plan (ordinary
resolution)
Resolution 4 seeks approval of the Spectris Reward Plan (the
'SRP'). The SRP will not be used to make awards to the Executive
Directors but it is intended that awards be settled by new issue or
treasury shares and therefore the use of the SRP requires
shareholder approval.
Spectris shareholders will shortly receive a copy of the Notice.
Spectris shareholders who have elected to receive electronic
communications from the Company will shortly receive a notification
of availability of the Notice on the Company's website
https://www.spectris.com/investors/shareholder-information/agm-notice-and-results/agm-2019
In addition, the Notice and copies of the share plan rules will
be available for inspection during normal business hours on any
business day at the offices of Slaughter and May, One Bunhill Row,
London
EC1Y 8YY. A copy of the Notice 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 and on behalf of Spectris plc
LEI Number: 213800Z4CO2CZO3M3T10
Contacts:
Spectris plc
Siobhán Andrews, Head of Corporate Affairs +44 1784 485325
FTI Consulting
Richard Mountain / Susanne Yule +44 203 727 1374
ABOUT SPECTRIS
Spectris plc is a leading supplier of productivity-enhancing
instrumentation and controls. The Company's products, technologies
and services help customers to improve product quality and
performance, improve core manufacturing processes, reduce downtime
and wastage and reduce time to market. Its global customer base
spans a diverse range of end-user markets. Headquartered in Egham,
Surrey, United Kingdom, the Company employs approximately 9,500
people located in more than 30 countries.
For more information, visit www.spectris.com.
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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