Business
Board Voting Recommendations
Board Voting Recommendations.
About this update from Mitchells & Butlers Plc
[{"type":"text","content":"\n RNS Number : 3427F Mitchells & Butlers PLC 11 January 2010 \n \nMitchells & Butlers plc\n\nBoard Recommendations - Annual General Meeting\nIn accordance with paragraph 9.6.1 of the FSA Listing Rules two copies of a letter and a revised proxy card, which are being mailed to shareholders today, have been submitted to the UKLA for publication through the Document Viewing Facility situated at: \nFinancial Services Authority \n25 The North Colonnade Canary Wharf London E14 5HS \nTelephone 020-7066-1000\nThe content of the letter is reproduced below. \n\"Dear Shareholder\n\nThe Board's Recommendations on how to Vote at the AGM\nIntroduction\nThe Company's directors wrote to you in December 2009 to explain the background to the events of the last few months and also the reasons why four non-executive directors were removed from the Board towards the end of last year. A copy of that letter is available online at www.mbplc.com/letter.\nOn 17 December 2009, the Company informed the market that it had received from Piedmont Inc., the Company's largest shareholder with a 22.8% stake, a request that four further individuals be considered for election to the Board at the forthcoming Annual General Meeting. Piedmont Inc. also proposed a resolution to remove Drummond Hall, the former Chairman, from the Board.\nIn the opinion of the Board the resolution to remove Drummond Hall, the former Chairman, from the Board has been made without any justification. Mr Hall intends to stand down as soon as a replacement independent non-executive director joins the Board. The Board wishes Mr Hall to remain as a director in the meantime. Piedmont's representative had previously also indicated that a 'small number of large shareholders' would vote to remove Simon Laffin as a director. Piedmont's representative went on to add that he thought it better if in fact Mr Laffin did not stand at all.\nOn 4 January the Company informed the market that it had received a further communication from Piedmont Inc. requesting the appointment, under the terms of its contractual agreement, of Ron Robson to the Board as one of its two permitted shareholder representative non-executive directors.\nThe Board notes that substantial change in its composition has already occurred during t...