TIDMBATS
RNS Number : 5463L
British American Tobacco PLC
30 April 2020
BRITISH AMERICAN TOBACCO p.l.c.
RESULTS OF VOTING AT THE 2020 ANNUAL GENERAL MEETING
The Annual General Meeting of British American Tobacco p.l.c.
was held at Globe House, 4 Temple Place, London WC2R 2PG on 30
April 2020.
The tables below set out the results of the poll on each of the
total of 20 Resolutions as stated in the Notice of Meeting dated 26
March 2020. All valid proxy votes (whether submitted electronically
or in hard copy form) were included in the poll taken at the
Meeting. Each shareholder, present in person or by proxy, was
entitled to one vote per ordinary share of 25p held.
Resolution 1
Receipt of 2019 Report and Accounts
--------------------------------------------- --------------
For - Note (b) 1,740,970,434
Percent of Votes Cast 99.75%
Percent of Issued Share Capital 75.89%
----------------------------------------- ------------------
Against 4,425,123
Percent of Votes Cast 0.25%
Percent of Issued Share Capital 0.19%
----------------------------------------- ------------------
Total Votes Cast (Excl. Votes Withheld) 1,745,395,557
Percent of Issued Share Capital 76.08%
----------------------------------------- ------------------
Votes Withheld - Note (c) 4,221,144
----------------------------------------- ------------------
Resolution 2
Approval of the 2019 Directors' Remuneration
Report
---------------------------------------------- --------------
For - Note (b) 1,081,334,586
Percent of Votes Cast 61.94%
Percent of Issued Share Capital 47.13%
--------------------------------------------- -----------------
Against 664,416,231
Percent of Votes Cast 38.06%
Percent of Issued Share Capital 28.96%
--------------------------------------------- -----------------
Total Votes Cast (Excl. Votes Withheld) 1,745,750,817
Percent of Issued Share Capital 76.09%
--------------------------------------------- -----------------
Votes Withheld - Note (c) 3,859,408
--------------------------------------------- -----------------
Resolution 3
Reappointment of KPMG LLP as Auditors
------------------------------------------ ---------------
For - Note (b) 1,735,990,590
Percent of Votes Cast 99.72%
Percent of Issued Share Capital 75.67%
----------------------------------------- ----------------
Against 4,868,206
Percent of Votes Cast 0.28%
Percent of Issued Share Capital 0.21%
----------------------------------------- ----------------
Total Votes Cast (Excl. Votes Withheld) 1,740,858,796
Percent of Issued Share Capital 75.88%
----------------------------------------- ----------------
Votes Withheld - Note (c) 8,757,294
----------------------------------------- ----------------
Resolution 4
Authority for the Audit Committee to agree
the Auditors' remuneration
---------------------------------------------- ---------------
For - Note (b) 1,745,866,826
Percent of Votes Cast 99.85%
Percent of Issued Share Capital 76.10%
------------------------------------------ -------------------
Against 2,546,932
Percent of Votes Cast 0.15%
Percent of Issued Share Capital 0.11%
------------------------------------------ -------------------
Total Votes Cast (Excl. Votes Withheld) 1,748,413,758
Percent of Issued Share Capital 76.21%
------------------------------------------ -------------------
Votes Withheld - Note (c) 1,202,332
------------------------------------------ -------------------
Resolution 5
Re-election of Jack Bowles as a Director
---------------------------------------------------------------
For - Note (b) 1,747,172,139
Percent of Votes Cast 99.93%
Percent of Issued Share Capital 76.16%
------------------------------------------ -------------------
Against 1,261,832
Percent of Votes Cast 0.07%
Percent of Issued Share Capital 0.06%
------------------------------------------ -------------------
Total Votes Cast (Excl. Votes Withheld) 1,748,433,971
Percent of Issued Share Capital 76.21%
------------------------------------------ -------------------
Votes Withheld - Note (c) 1,182,312
------------------------------------------ -------------------
Resolution 6
Re-election of Richard Burrows as a Director
---------------------------------------------- ---------------
For - Note (b) 1,695,365,535
Percent of Votes Cast 98.74%
Percent of Issued Share Capital 73.90%
--------------------------------------------- ----------------
Against 21,668,118
Percent of Votes Cast 1.26%
Percent of Issued Share Capital 0.94%
--------------------------------------------- ----------------
Total Votes Cast (Excl. Votes Withheld) 1,717,033,653
Percent of Issued Share Capital 74.84%
--------------------------------------------- ----------------
Votes Withheld - Note (c) 32,578,544
--------------------------------------------- ----------------
Resolution 7
Re-election of Sue Farr as a Director
------------------------------------------ ---------------
For - Note (b) 1,574,164,446
Percent of Votes Cast 90.04%
Percent of Issued Share Capital 68.61%
----------------------------------------- ----------------
Against 174,151,876
Percent of Votes Cast 9.96%
Percent of Issued Share Capital 7.59%
----------------------------------------- ----------------
Total Votes Cast (Excl. Votes Withheld) 1,748,316,322
Percent of Issued Share Capital 76.21%
----------------------------------------- ----------------
Votes Withheld - Note (c) 1,300,380
----------------------------------------- ----------------
Resolution 8
Re-election of Dr Marion Helmes as a
Director
------------------------------------------ ---------------
For - Note (b) 1,442,383,287
Percent of Votes Cast 82.50%
Percent of Issued Share Capital 62.87%
------------------------------------------- --------------
Against 305,924,198
Percent of Votes Cast 17.50%
Percent of Issued Share Capital 13.33%
------------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,748,307,485
Percent of Issued Share Capital 76.21%
------------------------------------------- --------------
Votes Withheld - Note (c) 1,309,217
------------------------------------------- --------------
Resolution 9
Re-election of Luc Jobin as a Director
------------------------------------------ ---------------
For - Note (b) 1,744,591,256
Percent of Votes Cast 99.79%
Percent of Issued Share Capital 76.04%
----------------------------------------- ----------------
Against 3,720,551
Percent of Votes Cast 0.21%
Percent of Issued Share Capital 0.16%
----------------------------------------- ----------------
Total Votes Cast (Excl. Votes Withheld) 1,748,311,807
Percent of Issued Share Capital 76.21%
----------------------------------------- ----------------
Votes Withheld - Note (c) 1,304,895
----------------------------------------- ----------------
Resolution 10
Re-election of Holly Keller Koeppel
as a Director
----------------------------------------- --------------
For - Note (b) 1,737,209,181
Percent of Votes Cast 99.37%
Percent of Issued Share Capital 75.72%
----------------------------------------- --------------
Against 11,060,683
Percent of Votes Cast 0.63%
Percent of Issued Share Capital 0.48%
----------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,748,269,864
Percent of Issued Share Capital 76.20%
----------------------------------------- --------------
Votes Withheld - Note (c) 1,346,837
----------------------------------------- --------------
Resolution 11
Re-election of Savio Kwan as a Director
----------------------------------------- --------------
For - Note (b) 1,574,429,906
Percent of Votes Cast 90.06%
Percent of Issued Share Capital 68.63%
----------------------------------------- --------------
Against 173,860,989
Percent of Votes Cast 9.94%
Percent of Issued Share Capital 7.58%
----------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,748,290,895
Percent of Issued Share Capital 76.20%
----------------------------------------- --------------
Votes Withheld - Note (c) 1,325,807
----------------------------------------- --------------
Resolution 12
Re-election of Dimitri Panayotopoulos
as a Director
----------------------------------------- --------------
For - Note (b) 1,557,526,215
Percent of Votes Cast 89.17%
Percent of Issued Share Capital 67.89%
----------------------------------------- --------------
Against 189,154,129
Percent of Votes Cast 10.83%
Percent of Issued Share Capital 8.24%
----------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,746,680,344
Percent of Issued Share Capital 76.13%
----------------------------------------- --------------
Votes Withheld - Note (c) 2,936,358
----------------------------------------- --------------
Resolution 13
Election of Jeremy Fowden as a Director
----------------------------------------- --------------
For - Note (b) 1,743,843,438
Percent of Votes Cast 99.75%
Percent of Issued Share Capital 76.01%
----------------------------------------- --------------
Against 4,432,406
Percent of Votes Cast 0.25%
Percent of Issued Share Capital 0.19%
----------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,748,275,844
Percent of Issued Share Capital 76.20%
----------------------------------------- --------------
Votes Withheld - Note (c) 1,340,858
----------------------------------------- --------------
Resolution 14
Election of Tadeu Marroco as a Director
-----------------------------------------
For - Note (b) 1,735,186,834
Percent of Votes Cast 99.25%
Percent of Issued Share Capital 75.63%
----------------------------------------- ------------------
Against 13,069,808
Percent of Votes Cast 0.75%
Percent of Issued Share Capital 0.57%
----------------------------------------- ------------------
Total Votes Cast (Excl. Votes Withheld) 1,748,256,642
Percent of Issued Share Capital 76.20%
----------------------------------------- ------------------
Votes Withheld - Note (c) 1,360,060
----------------------------------------- ------------------
Resolution 15
Renewal of Directors' authority to allot
shares
------------------------------------------ --------------
For - Note (b) 1,265,356,664
Percent of Votes Cast 72.38%
Percent of Issued Share Capital 55.15%
------------------------------------------ --------------
Against 482,742,343
Percent of Votes Cast 27.62%
Percent of Issued Share Capital 21.04%
------------------------------------------ --------------
Total Votes Cast (Excl. Votes Withheld) 1,748,099,007
Percent of Issued Share Capital 76.20%
------------------------------------------ --------------
Votes Withheld - Note (c) 1,517,694
------------------------------------------ --------------
Resolution 16 - Note (d)
Renewal of Directors' authority to disapply
pre-emption rights
--------------------------------------------- --------------
For - Note (b) 1,468,920,343
Percent of Votes Cast 84.04%
Percent of Issued Share Capital 64.03%
--------------------------------------------- --------------
Against 278,978,193
Percent of Votes Cast 15.96%
Percent of Issued Share Capital 12.16%
--------------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,747,898,536
Percent of Issued Share Capital 76.19%
--------------------------------------------- --------------
Votes Withheld - Note (c) 1,718,159
--------------------------------------------- --------------
Resolution 17 - Note (d)
Authority for the Company to purchase
its own shares
----------------------------------------- --------------
For - Note (b) 1,701,849,997
Percent of Votes Cast 97.37%
Percent of Issued Share Capital 74.18%
----------------------------------------- --------------
Against 46,037,064
Percent of Votes Cast 2.63%
Percent of Issued Share Capital 2.01%
----------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,747,887,061
Percent of Issued Share Capital 76.19%
----------------------------------------- --------------
Votes Withheld - Note (c) 1,729,639
----------------------------------------- --------------
Resolution 18
Approval of the British American Tobacco
Restricted Share Plan
------------------------------------------ --------------
For - Note (b) 1,649,978,029
Percent of Votes Cast 94.40%
Percent of Issued Share Capital 71.92%
------------------------------------------ --------------
Against 97,967,371
Percent of Votes Cast 5.60%
Percent of Issued Share Capital 4.27%
------------------------------------------ --------------
Total Votes Cast (Excl. Votes Withheld) 1,747,945,400
Percent of Issued Share Capital 76.19%
------------------------------------------ --------------
Votes Withheld - Note (c) 1,665,229
------------------------------------------ --------------
Resolution 19
Authority to make donations to political organisations
and to incur political expenditure
------------------------------------------------------------------------
For - Note (b) 1,585,976,112
Percent of Votes Cast 90.74%
Percent of Issued Share Capital 69.13%
-------------------------------------------------------- --------------
Against 161,774,633
Percent of Votes Cast 9.26%
Percent of Issued Share Capital 7.05%
-------------------------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,747,750,745
Percent of Issued Share Capital 76.18%
-------------------------------------------------------- --------------
Votes Withheld - Note (c) 1,862,566
-------------------------------------------------------- --------------
Resolution 20 - Note (d)
Notice period for General Meetings
-------------------------------------------------------- --------------
For - Note (b) 1,568,197,534
Percent of Votes Cast 89.70%
Percent of Issued Share Capital 68.35%
-------------------------------------------------------- --------------
Against 180,156,371
Percent of Votes Cast 10.30%
Percent of Issued Share Capital 7.85%
-------------------------------------------------------- --------------
Total Votes Cast (Excl. Votes Withheld) 1,748,353,905
Percent of Issued Share Capital 76.21%
-------------------------------------------------------- --------------
Votes Withheld - Note (c) 1,262,797
-------------------------------------------------------- --------------
Notes:
(a) The total number of ordinary shares in issue (excluding
treasury shares) at the close of business on Wednesday 29 April
2020 was 2,294,203,487.
(b) Includes discretionary votes.
(c) A vote withheld is not a vote in law and is not counted in
the calculation of the proportion of votes 'For' or 'Against' a
resolution.
(d) In accordance with Listing Rules 9.6.2R and 9.6.3R, copies
of the resolutions numbered 16, 17 and 20 will be submitted to the
National Storage Mechanism as soon as practicable and will be
available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy of
the resolutions may also be obtained from the Notice of Meeting
which is available on the Company's website at www.bat.com/agm
.
All resolutions were passed at the Company's Annual General
Meeting today with the requisite majority of votes.
Resolution 2 - Directors' Remuneration Report
In respect of resolution 2 (Directors' Remuneration Report), we
acknowledge that a significant minority of shareholders chose not
to support this resolution.
This year, as with every year, the Remuneration Committee has
given careful consideration to executive remuneration. Our
executive remuneration arrangements are fully in line with our
Directors' Remuneration Policy which was approved by a significant
majority of our shareholders at our 2019 Annual General Meeting
with 92.6% of votes in favour of the policy.
However, the views of all our shareholders are important to us
and we will continue to listen to their views to better understand
the specific concerns of those who voted against this resolution.
Prior to today's Annual General Meeting, we engaged with a number
of our shareholders on our executive remuneration arrangements and
we will continue to actively engage shareholders on this important
topic during 2020.
Resolution 15 - Authority to allot shares
We acknowledge that a number of our shareholders did not support
this resolution. It remains standard market practice for many UK
FTSE listed companies to retain this type of authority. As we have
previously reported, the authority sought by the Company is in
accordance with the UK Investment Association's share capital
management guidelines and prevailing voting guidelines of leading
corporate governance agencies applicable to UK listed
companies.
However, we remain aware that some institutional investors,
particularly outside the UK, have specific policies against
supporting this type of resolution. Following the outcome of
today's vote, we will continue our ongoing engagement with
shareholders for which this authority presents concern and will
keep best practice in this area under review.
P McCrory
Secretary
British American Tobacco p.l.c.
30 April 2020
Enquiries:
Investor Relations
Mike Nightingale/Victoria Buxton/William Houston/John Harney
+44 20 7845 1180/2012/1138/1263
British American Tobacco Press Office
+44 (0) 20 7845 2888 (24 hours) | @BATPress
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END
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