AGM 2018 motions 1 to 3
Motions 1 to 3 are ordinary resolutions and are advisory.
They only need a simple majority to go through.
Updating you on our 2017 Performance
Motion 1 To receive the Annual Report and Accounts for the period ended 6 January 2018.
Notes on motion 1: The Board and Council recommend supporting this motion.
CARRIED
For 97,284 (98.19%)
Against 1,794 (1.81%)
Withheld 8,830
Details on the pay of our Directors and Executive
Motion 2 To approve the Directors' Remuneration Report (PDF) for the period ended 6 January 2018.
Notes on motion 2: The Board and Council recommend supporting this motion.
CARRIED
For 82,964 (88.34%)
Against 10,950 (11.66%)
Withheld 13,011
Motion 3: To approve a change in the Executive Remuneration Policy.
Notes on motion 3: The new opportunity levels for all our Executive under the new bonus plan has been set looking at what is paid in similar organisations elsewhere. This review has shown that our Chief Executive’s total package is a lot lower than the market rate.
Rather than increase base pay your Committee believes it is better to increase the part of pay which links to performance. This will mean the maximum amount which he could be paid for this part of his pay will increase from 200% to 250% of base pay. No payment would be made if performance is not good enough, but depending on the level of results achieved a payment of between nil and 250% of salary could be made.
As this is a change to the current Executive Remuneration Policy the Committee will be asking you to vote on this change at the 2018 AGM.
The Board and Council recommend supporting this motion.
Find out more in our Directors' Remuneration Report (PDF).
CARRIED
For 74,979 (84.13%)
Against 14,140 (15.87%)
Withheld 16,861