Result of AGM
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your PRTC notes
The Annual General Meeting of PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech Health" or the "Company") was held at 11 a.m. EDT/4 p.m. BST on Thursday, June 13, 2024.
All of the resolutions proposed at the Annual General Meeting were duly passed by the shareholders on a poll. The results of the poll, incorporating the proxy votes lodged in advance of the meeting, are set out below.
| Resolutions | For | % | Against | % | Withheld | Total votes cast |
|---|---|---|---|---|---|---|
| 001. To approve the Company's Annual Report and Accounts for year ended 31 December 2023 | 180,831,234 | 100.00% | 3,581 | 0.00% | 90,476 | 180,834,815 |
| 002. To approve the Directors' Remuneration Report | 72,296,583 | 55.95% | 56,922,574 | 44.05% | 51,706,134 | 129,219,157 |
| 003. To approve the Directors' Remuneration Policy | 83,722,702 | 64.46% | 46,157,643 | 35.54% | 51,044,946 | 129,880,345 |
| 004. To approve amendments to the rules of the PureTech Health plc Performance Share Plan 2023 | 91,600,947 | 70.74% | 37,887,028 | 29.26% | 51,437,316 | 129,487,975 |
| 005. To elect Ms. Sharon Barber-Lui as a director | 180,223,191 | 99.99% | 13,818 | 0.01% | 688,282 | 180,237,009 |
| 006. To elect Dr. Bharatt Chowrira as a director | 180,903,972 | 99.99% | 14,250 | 0.01% | 7,069 | 180,918,222 |
| 007. To elect Dr. Raju Kucherlapati as a director | 168,304,704 | 93.03% | 12,613,517 | 6.97% | 7,070 | 180,918,221 |
| 008. To elect Dr. John LaMattina as a director | 97,660,582 | 74.71% | 33,063,035 | 25.29% | 50,201,674 | 130,723,617 |
| 009. To elect Dr. Robert Langer as a director | 178,992,250 | 98.94% | 1,925,771 | 1.06% | 7,270 | 180,918,021 |
| 010. To elect Ms. Kiran Mazumdar-Shaw as a director | 171,626,767 | 94.91% | 9,206,455 | 5.09% | 92,069 | 180,833,222 |
| 011. To reappoint PricewaterhouseCoopers LLP as Auditors of the Company | 180,817,973 | 99.95% | 95,238 | 0.05% | 12,080 | 180,913,211 |
| 012. To authorize the Audit Committee to determine the Auditors' remuneration | 180,898,936 | 99.99% | 20,477 | 0.01% | 5,878 | 180,919,413 |
| 013. To authorize the allotment of shares | 168,771,484 | 97.85% | 3,707,621 | 2.15% | 8,446,186 | 172,479,105 |
| 014. To disapply pre-emption rights | 167,217,234 | 96.95% | 5,261,591 | 3.05% | 8,446,466 | 172,478,825 |
| 015. To further disapply pre-emption rights for acquisitions and specified capital investments. | 165,299,824 | 95.84% | 7,179,001 | 4.16% | 8,446,466 | 172,478,825 |
| 016. To authorize market purchase of own shares | 180,789,891 | 99.93% | 129,498 | 0.07% | 5,902 | 180,919,389 |
| 017. To authorize general meetings to be called on not less than 14 clear days' notice | 180,302,971 | 99.77% | 422,112 | 0.23% | 200,208 | 180,725,083 |
While the Board is pleased that all resolutions were supported by the required majorities, we note that more than 20% of votes were cast against Resolutions 2, 3, 4 and 8. Over the past year, the Board has actively engaged with shareholders regarding its approach to director remuneration, resulting in adjustments to the proposed Remuneration Policy. Looking ahead, the Board will continue to engage with shareholders to further understand their perspectives and the reasons behind their opposition to certain proposals. In accordance with the UK Corporate Governance Code, we will provide an update on our engagement efforts within the next six months.
Notes:
- As at June 13, 2024 the number of issued shares in the Company was 270,859,250 ordinary shares, which was the total number of shares entitling the holders to attend and vote for or against all the resolutions at the AGM. In accordance with the Company's Articles of Association, on a poll every member present in person or by proxy has one vote for every share held.
- The full text of the resolutions may be found in the Notice of the Annual General Meeting, copies of which are available on both the Company's website https://investors.puretechhealth.com/financials-filings/reports and on the National Storage Mechanism.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.