Coca-Cola EP PLC - Result of AGM
The Annual General Meeting of
All 31 resolutions put to the members were passed on a poll. Accordingly, resolutions 1 to 26 were passed as ordinary resolutions and resolutions 27 to 31 were passed as special resolutions.
The results of the polls are set out below:
|
Resolution |
For (see note 1) |
Against (see note 1) |
Issued share capital represented by votes (see note 2) % |
Votes withheld (see note 3) |
|||
|
Votes |
% |
Votes |
% |
||||
|
1 |
Receipt of the Report and Accounts |
406,482,347 |
99.90% |
407,236 |
0.10% |
91.80% |
247,725 |
|
2 |
Approval of the Directors' Remuneration Policy |
400,476,791 |
98.39% |
6,538,197 |
1.61% |
91.83% |
122,320 |
|
3 |
Approval of the Directors' Remuneration Report |
403,059,719 |
99.03% |
3,962,515 |
0.97% |
91.83% |
115,074 |
|
4 |
Election of |
406,762,348 |
99.93% |
268,359 |
0.07% |
91.84% |
106,601 |
|
5 |
Election of Uvashni Raman as a director of the Company |
406,739,581 |
99.93% |
289,245 |
0.07% |
91.83% |
108,482 |
|
6 |
Re-election of |
406,375,776 |
99.84% |
655,756 |
0.16% |
91.84% |
105,776 |
|
7 |
Re-election of |
356,719,567 |
87.77% |
49,710,058 |
12.23% |
91.70% |
707,683 |
|
8 |
Re-election of |
399,587,893 |
98.17% |
7,440,596 |
1.83% |
91.83% |
108,819 |
|
9 |
Re-election of |
356,216,448 |
87.64% |
50,230,043 |
12.36% |
91.70% |
690,817 |
|
10 |
Re-election of |
395,397,538 |
97.19% |
11,432,067 |
2.81% |
91.79% |
307,703 |
|
11 |
Re-election of |
406,099,818 |
99.77% |
943,569 |
0.23% |
91.84% |
93,921 |
|
12 |
Re-election of |
404,583,410 |
99.40% |
2,429,902 |
0.60% |
91.83% |
123,996 |
|
13 |
Re-election of Álvaro Gómez-Trénor Aguilar as a director of the Company |
403,977,573 |
99.30% |
2,861,683 |
0.70% |
91.79% |
298,052 |
|
14 |
Re-election of |
399,637,873 |
98.18% |
7,394,629 |
1.82% |
91.84% |
104,806 |
|
15 |
Re-election of |
403,959,826 |
99.29% |
2,878,878 |
0.71% |
91.79% |
298,604 |
|
16 |
Re-election of |
403,996,474 |
99.25% |
3,033,232 |
0.75% |
91.84% |
107,602 |
|
17 |
Re-election of |
403,545,563 |
99.14% |
3,486,285 |
0.86% |
91.84% |
105,460 |
|
18 |
Re-election of |
403,837,610 |
99.27% |
2,983,316 |
0.73% |
91.79% |
316,382 |
|
19 |
Re-election of Mario Rotllant Solá as a director of the Company |
402,930,232 |
99.04% |
3,907,207 |
0.96% |
91.79% |
299,869 |
|
20 |
Re-election of |
406,551,287 |
99.88% |
480,233 |
0.12% |
91.84% |
105,788 |
|
21 |
Reappointment of the Auditor |
412,791,518 |
99.89% |
469,606 |
0.11% |
93.24% |
126,315 |
|
22 |
Remuneration of the Auditor |
406,971,413 |
99.99% |
60,935 |
0.01% |
91.84% |
104,960 |
|
23 |
Political donations |
405,971,063 |
99.77% |
943,264 |
0.23% |
91.81% |
222,981 |
|
24 |
Authority to allot new shares |
401,917,119 |
98.74% |
5,114,455 |
1.26% |
91.84% |
105,734 |
|
25 |
Waiver of mandatory offer provisions set out in Rule 9 of the Takeover Code (see note 5) |
177,687,226 |
75.39% |
58,009,286 |
24.61% |
53.18% |
171,440,796 |
|
26 |
Amendment to the Coca-Cola Europacific Partners plc Long Term Incentive Plan |
404,311,107 |
99.35% |
2,663,411 |
0.65% |
91.82% |
162,790 |
|
27 |
General authority to disapply pre-emption rights |
405,902,986 |
99.75% |
1,023,467 |
0.25% |
91.81% |
210,855 |
|
28 |
General authority to disapply pre-emption rights in connection with an acquisition or specified capital investment |
406,501,699 |
99.88% |
479,412 |
0.12% |
91.82% |
156,197 |
|
29 |
Authority to purchase own shares on market |
403,732,454 |
99.21% |
3,208,970 |
0.79% |
91.82% |
195,884 |
|
30 |
Authority to purchase own shares off market |
403,713,015 |
99.21% |
3,218,917 |
0.79% |
91.81% |
205,376 |
|
31 |
Notice period for general meetings other than annual general meetings |
399,762,665 |
98.22% |
7,261,540 |
1.78% |
91.83% |
113,103 |
The results for the election and re-election of independent non-executive directors, excluding the votes cast by
|
Resolution |
For (see note 4) |
Against (see note 4) |
Issued share capital represented by votes% |
Votes withheld (see note 3) |
|||
|
Votes |
% |
Votes |
% |
||||
|
4 |
Election of |
240,633,362 |
99.89% |
268,359 |
0.11% |
54.35% |
106,601 |
|
5 |
Election of Uvashni Raman as a director of the Company |
240,610,595 |
99.88% |
289,245 |
0.12% |
54.35% |
108,482 |
|
6 |
Re-election of |
240,246,790 |
99.73% |
655,756 |
0.27% |
54.35% |
105,776 |
|
8 |
Re-election of |
233,458,907 |
96.91% |
7,440,596 |
3.09% |
54.35% |
108,819 |
|
12 |
Re-election of |
238,454,424 |
98.99% |
2,429,902 |
1.01% |
54.35% |
123,996 |
|
14 |
Re-election of |
233,508,887 |
96.93% |
7,394,629 |
3.07% |
54.35% |
104,806 |
|
16 |
Re-election of |
237,867,488 |
98.74% |
3,033,232 |
1.26% |
54.35% |
107,602 |
|
17 |
Re-election of |
237,416,577 |
98.55% |
3,486,285 |
1.45% |
54.35% |
105,460 |
|
20 |
Re-election of |
240,422,301 |
99.80% |
480,233 |
0.20% |
54.35% |
105,788 |
Notes:
|
1 |
Votes "For" and "Against" are expressed as a percentage of votes received.
|
|
2 |
As at
|
|
3 |
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.
|
|
4 |
Under the
|
|
5 |
Resolution 25 was put to the AGM as a resolution of the Independent Shareholders. |
Resolution 25, being the ordinary resolution to approve the waiver by the Panel on Takeovers and Mergers under Rule 9 of the City Code on Takeovers and Mergers (the "Rule 9 Waiver") in connection with the Company's buyback programme, was duly passed by 75.39% of the votes cast by the Independent Shareholders with 24.61% of votes cast against. Resolution 25 is a standing agenda item at each Annual General Meeting to enable CCEP to exercise the authorities under resolution 29 to purchase its own shares on market and resolution 30 to purchase its own shares off market, which were both passed with majorities of 99.21%. This will enable CCEP to make use of the option to return value to shareholders through a possible future buyback programme. Had resolution 25 not been passed, the Company would not have been able to effect such buyback programmes, as explained in the Notice of AGM and also in the Letter to Shareholders issued via RNS on
CCEP intends to continue to engage with ISS on their standing policy to generally recommend a vote against Rule 9 waivers, which we believe may be a contributing factor in influencing investor decisions in this regard. In addition, CCEP will continue to engage, in the normal course and as appropriate, with shareholders who did not support resolution 25 to understand the reasons for their vote against the proposal and to continue a transparent and constructive dialogue on this topic. In accordance with provision 4 of the
Olive is currently interested in 166,128,987 shares in the Company and the Rule 9 Waiver does not entitle Olive to be interested in a greater number of shares. The Rule 9 Waiver would allow Olive's interest in shares as a percentage of the Company's total shares to increase as a result of the exercise of the Company's authorities to purchase its own shares, but only to the extent that the resulting interest of Olive, together with any concert parties, in the shares of the Company did not then exceed 41.4289%.
In accordance with
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ABOUT CCEP
We combine the strength and scale of a large, multi-national business with an expert, local knowledge of the customers we serve and communities we support.
The Company is currently listed on Euronext Amsterdam, NASDAQ,
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