Reece shareholders deliver second strike against remuneration report

Reece Limited announced that its 2025 annual general meeting (AGM) saw the adoption of the remuneration report receive a second strike. With 44.73% of votes cast against the resolution, this outcome constitutes a second strike under the Corporations Act 2001 (Cth).

While the remuneration report was carried with 55.27% of votes in favor, the substantial opposition triggered the "second strike" provision. All other director elections and re-elections, including Angela Mentis, Gavin Street, Jacqueline Chow, Andrew Wilson, Bruce C. Wilson, and Sasha Nikolic, were carried. However, the election of non-board endorsed director candidate Stephen Mayne was not carried, with only 0.63% of votes in favor compared to 99.37% against.

The conditional spill resolution, which would have been triggered had the remuneration report been voted down, was consequently not carried, receiving 97.03% of votes against. For further details, shareholders can access information on group.reece.com/au.