Annual General Meeting 2005
Overview
The Royal London Annual General Meeting 2005 was held at the Waldorf Hotel in central London on 2nd June 2005.
Following a resolution at an Extraordinary General Meeting in November 2004, this was the first AGM at which members not attending the meeting in person could make their views known by registering a proxy vote.
Over 35,000 Royal London members chose to vote by proxy. The vast majority indicating which way they wanted their proxy to vote (rather than leaving their vote to the discretion of the proxy).
A number of members attended the meeting in person and took the opportunity to question the Board on a number of issues including Group strategy, with profits bonus philosophy and directors’ rewards.
The proxy voting process and entry to the meeting on the day was managed by the independent scrutineers, Electoral Reform Services. To ensure that the vote of members present and the proxies were accurately reflected voting at the meeting ERS provided electronic voting consoles.
Results of voting
| Resolution | For | Against | % For |
|---|---|---|---|
| Receive the 2004 Report & Accounts | 33,903 | 572 | 98.3% |
| Approval of report on directors’ remuneration | 30,775 | 3,076 | 90.9 |
| Reappointment of PricewaterhouseCoopers LLP as Auditors at remuneration to be fixed by the directors | 33,375 | 1,080 | 96.9% |
| Re-election of Tom Ross (a non-executive director) who is retiring by rotation | 32,162 | 1,930 | 94.3 |
| Re-election of Mike Yardley (the Group Chief Executive) who is retiring by rotation | 32,072 | 2,068 | 93.9 |
| Special Resolution to approve the adoption of new Articles of Association | 31,897 | 1,887 | 94.4 |
| Increase the maximum aggregate amount of directors’ fees/ordinary remuneration which can be paid to £450,000 | 23,574 | 9,489 | 71.3 |
All resolutions were carried.