Persimmon Plc (PSN) Earnings Call Transcript & Summary

Good afternoon, ladies and gentlemen. I'd like to welcome you to Persimmon's 2021 Annual General Meeting. We are, again, alas, unable to allow most shareholders to be physically present today. As I said at our engagement event we held last Friday, I sincerely hope we can all meet again in person next year. I'm joined today by Dean Finch, Group Chief Executive; and Mike Killoran, Group Finance Director. And we, 3 shareholders, make up the quorum required for this meeting. All of our nonexecutive directors have joined the meeting by video link. At the engagement event last week, Dean gave his Chief Executive's presentation and I said a few words about the excellent progress the company is making on a number of fronts in terms of build quality and customer care. We also answered the question shareholders have submitted for the event. The recording of the event and Dean's presentation slides are available on our website. I should also add that, as usual, we have released a trading update to the stock exchange this morning, which covers the period from the first of January to date. And we are pleased to report continued good operating performance. Today's AGM is necessarily a formal affair focused on the voting. Shareholders were asked to submit their votes by proxy in advance. One of the votes is to change our articles to allow hybrid AGMs in the future, which will allow, on today, electronic voting. But under the current articles in these circumstances, I will act as proxy for those shareholders that have elected for me to do so. So we will now move to the formal business of the AGM, and I will take the notice as read. Now to proceed to the vote. Voting on all resolutions will be conducted by way of a poll. On a poll, every member has 1 vote for every share held. Voting by poll takes account of all shareholder votes lodged by proxy in advance and nominates the chairman of the meeting to vote on their behalf. And I now declare the poll open. As Chairman of the meeting, I'm empowered to cast these votes in the way that shareholders have instructed. I now declare the poll to be closed. As there are only a minimum of shareholders in attendance today, we can announce the results of the poll. And I'm pleased to inform you that all the resolutions put to the meeting have been passed with the majority receiving 99% in favor, except for the resolution to hold general meetings on 14 days' notice, and that received 94% in favor. The detailed results of this poll will be released to the London Stock Exchange and published on our website as soon as possible this afternoon. Ladies and gentlemen, that concludes the formal business of the meeting, and I declare the Annual General Meeting to be closed.