22 October 2020
Market Announcements Office
Australian Securities Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
Dear Sir
Results of 2020 Annual General Meeting
WEBJET LIMITED
In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act, we advise details of the resolutions and the proxies received in respect of each resolution are set out in the attached proxy summary.
Commenting on the result, Webjet Limited Chairman Roger Sharp said:
"This has been the most extraordinary and difficult year for Webjet. The resolution on the Long Term Incentive Plan for the Managing Director was framed in this context. At the time of negotiating the proposed options grant and associated terms, we recognised the structure incorporated some characteristics that might be seen to be unusual. But so too are the times we live in.
The Board's clear view is that John Guscic is the right leader to see the Company through this difficult period, and that we need to put appropriate incentives in place to retain John and to deliver long term shareholder returns.
In recent weeks, we have actively engaged with our shareholders, small and large, to explain our rationale and seek their support. We have appreciated the constructive fashion in which so many of our investors have taken the time to consider the issues and back Webjet's leadership. The voting outcome today is a great endorsement of our approach and, most importantly, a reflection of the trust that our shareholders hold in management."
Yours faithfully,
Tony Ristevski
Chief Financial Officer and Company Secretary
Webjet Limited
2020 AGM | Level 2, 509 St Kilda Road | Melbourne | Victoria 3004 | Australia. ABN 68 002 013 612 | Page 1 of 2 |
WEBJET LIMITED
ANNUAL GENERAL MEETING
THURSDAY, 22 OCTOBER 2020
VOTING RESULTS
The following information is provided in accordance with Section 251AA(2) of the Corporations Act 2001 (Cth).
Resolution details | Instructions given to validly appointed proxies | Number of votes cast on the poll | ||||||
(as at proxy close) | (where applicable) | |||||||
Resolution | Resolution | For | Against | Proxy's | Abstain | For | Against | Abstain* |
Type | Discretion | |||||||
1 Adoption of Remuneration | Ordinary | 125,220,582 | 924,217 | 736,238 | 966,682 | 125,936,705 | 1,197,600 | 990,078 |
Report | 99.06% | 0.94% | ||||||
2 Re-election of Director - Mr | Ordinary | 126,109,386 | 349,388 | 739,425 | 989,241 | 127,131,537 | 349,388 | 993,179 |
Don Clarke | 99.73% | 0.27% | ||||||
3 Re-election of Director - Mr | Ordinary | 126,117,493 | 313,486 | 765,665 | 990,796 | 127,165,884 | 313,486 | 994,734 |
Brad Holman | 99.75% | 0.25% | ||||||
4 Ratification of issue of shares | Ordinary | 102,918,627 | 631,306 | 744,552 | 11,469,857 | 103,927,447 | 638,647 | 11,484,912 |
under Institutional Placement | 99.39% | 0.61% | ||||||
5 Approval for the issue of | 114,494,329 | 689,322 | 750,537 | 12,251,252 | 115,510,651 | 694,568 | 12,266,885 | |
Equity Settled Notes to replace | Ordinary | 99.40% | 0.60% | |||||
the existing Cash Settled Notes | ||||||||
6 Approval of Webjet Long Term | Ordinary | 121,100,742 | 3,668,458 | 658,918 | 2,512,981 | 121,713,577 | 3,983,528 | 2,520,770 |
Incentive Plan | 96.83% | 3.17% | ||||||
7 Approval of Managing Director | 83,436,296 | 40,345,177 | 655,825 | 3,488,810 | 84,030,029 | 40,677,256 | 3,495,487 | |
participation in Long Term | Ordinary | 67.38% | 32.62% | |||||
Incentive Plan | ||||||||
* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.
Resolution
Result
Carried /
Not Carried
Carried
Carried
Carried
Carried
Carried
Carried
Carried
2020 AGM
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Webjet Limited published this content on 22 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2020 22:29:01 UTC