KLR Keller Group Plc

 
TIDMKLR 
 
21 October 2019 
 
                               Keller Group plc 
 
    Update statement with regard to the 2019 Annual General Meeting results 
                                 announcement 
 
Keller Group plc (LSE: KLR) ("Keller", or "the Company"), today provides an 
update statement with regard to its 2019 Annual General Meeting results 
announcement. 
 
The Keller Board noted that all resolutions were passed with the requisite 
majority, although there was a significant minority vote against the approval 
of the directors' remuneration report (20.03%). 
 
Prior to the AGM, ISS proxy advisors recommended that shareholders vote against 
Resolution 2 (To approve the Directors' remuneration report) due to the number 
of shares awarded to Executive Directors in 2019 under the Company's Long Term 
Incentive Plan not being scaled back in recognition of the fall in the 
Company's share price during 2018. 
 
We engaged with a large number of our major shareholders ahead of our AGM.  As 
a result, the Remuneration Committee undertook that, at the time of vesting of 
the 2019 award it will make a determination as to whether to use its discretion 
to reduce vesting levels as appropriate.  The Remuneration Committee also 
determined that should the share price at the time of the 2020 grant not be 
materially higher than that on which the 2019 grants were awarded, the 2020 
awards will be scaled back from those awarded in 2019. 
 
The majority of our shareholders, including the Company's major shareholders, 
were supportive in their vote and the Board and the Remuneration Committee will 
continue to engage with shareholders on this subject going forward. 
 
The Company intends to post a copy of this Update Statement on the public 
register maintained by the Investment Association.  A final update on these 
matters will be included in the Company's next annual report and accounts. 
 
For further information, please contact: 
 
Keller Group plc                           www.keller.com 
 
Kerry Porritt, Group Company Secretary and Legal Advisor             020 7616 
7575 
 
Notes to editors: 
 
Keller is the world's largest geotechnical specialist contractor providing a 
wide portfolio of advanced foundation and ground improvement techniques used 
across the entire construction sector. With around 10,000 staff and operations 
across six continents, Keller tackles an unrivalled 7,000 projects every year, 
generating annual revenue of more than GBP2bn. 
 
LEI number:        549300QO4MBL43UHSN10 
 
Classification:     3.1 
 
 
 
END 
 

(END) Dow Jones Newswires

October 21, 2019 10:19 ET (14:19 GMT)

Keller (LSE:KLR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Keller (LSE:KLR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024