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Meggitt – AGM 23 April 2020

In general, Meggitt is in compliance with the British regulations relating to the organization and procedures of the Annual General Meeting.


Covid-19 and dividend update


On 27 March 2020, the Board has decided that it is prudent to withdraw the recommendation to pay the final dividend of 11.95 pence per share. Consequently, the dividend resolution referred to in the notice of the Annual General Meeting will not be presented to the meeting. In addition, ECGS recommends to OPPOSE to authorization to repurchase shares (ITEM 19).


ITEM 2: Directors' Remuneration Policy


The Company seeks shareholder approval of the Directors'Remuneration Policy. ECGS notes that the CEO's maximum variable remuneration (both short-term and long-term) could reach 370% under normal circumstances (500% in exceptional circumstances), which exceeds our limit of 300% of the base salary. Accordingly, we recommend shareholders to OPPOSE.

Meggitt PLC

Meggitt is the parent company of a group whose principal activities are the design and manufacture of components and sub-systems for aerospace, defense and other markets. Co. has five segments: Meggitt Aircraft Braking Systems, a providers of aircraft wheels, brakes and brake control systems; Meggitt Control Systems, which comprised of aircraft fire protection and control systems; Meggitt Polymers and Composites, which comprised of engine and aerodynamic seals, flexible fuel tanks and fuel systems; Meggitt Sensing Systems, a provider sensing and monitoring systems for aircraft; and Meggitt Equipment Group, which include unique heat transfer equipment for hydrocarbon processing.


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