2007 Annual General Meeting Results

Press release published on 17 August 2007 by Scarborough Building Society

Scarborough Building Society recorded another healthy voting turnout for today’s Annual General Meeting (AGM).

The percentage of people taking the opportunity to have their say on the Society’s future direction rose from 19.2% in 2006 to 19.38% –a turnout of 24,191 – continuing the trend of year-on-year increases.

The figures were released following a successful 161st anniversary AGM at the North Yorkshire-based mutual, which ratified an Annual Report & Accounts demonstrating record results for the 2006/7 period.

Chief Executive John Carrier said: ‘I am pleased to report another successful AGM, following 12 months of further growth and diversification for the Scarborough Group.

‘The past financial year has been an extremely successful one, in which we achieved pre-tax profit growth of 20% to £6.8 million and asset growth of 33%, to a record £2.3 billion.

‘Our members play a vital role in our business and our AGM provides one of the most important opportunities for both Directors and senior management to meet with them.

‘I am delighted that we have seen another positive voting turnout this year.’

One of the additional steps Scarborough took this year to encourage members to vote was to donate 20p for every vote cast to two of the Society’s key charitable partners, Home-start UK and the Yorkshire Wildlife Trust (YWT), which will each receive £2,500 towards community enhancing initiatives.

Scarborough has established partnerships with the two charities in line with the Communities and Environment strand of its Corporate Social Responsibility (CSR) policy, which sees it supporting good causes such as this with a mixture of cash sponsorship and volunteering involvement.

Other steps taken to encourage members to get involved include the inclusion of the Connect member magazine with its AGM mailing, containing lively case studies and ideas on a wide range of financial topics, as well as reminders about the importance of voting.

And it’s not only at AGM time that Scarborough encourages its members to take an active interest in its future development. The Society also runs regular customer research, including focus groups, to seek their opinions on everything from product development to service enhancements.

John added: ‘As a vibrant and successful, mutual organisation, we recognise the need to communicate effectively with our members, and seek every possible opportunity to involve them in what we are doing.

‘The increased voting turn out for our AGM demonstrates the success of our approach and the growing relationship our members have with the Society.’

Scarborough Building Society’s Annual General Meeting 2007

Friday, 17 August, 2007 marked the 161st Annual General Meeting of Scarborough Building Society.

The meeting was held at our headquarters of Prospect House in Scarborough; where the following results were concluded:

Ordinary Resolutions

Resolution		Votes For	Votes Against	Votes Withheld	% in Favour
1	To receive the Directors’ Report, Annual Accounts, the Annual Business Statement and the Auditors’ Report for the year ended 30 April 2007	23,150	645	389	97.289%
2	To re-appoint KPMG Audit Plc as the Society’s Auditors	22,627	1,204	354	94.948%
3	To approve the Directors’ Remuneration Report	19,722	3,377	1,086	85.380%

Special Resolution

Resolution		Votes For	Votes Against	Votes Withheld	% in Favour
4	To approve the changes to the Society’s Rules	21,069	1,517	1,596	93.283%

Election of Directors

Director		Votes For	Votes Against	Votes Withheld	% in Favour
5	(a) To re-elect John Jackson Carrier	21,642	1,953	593	91.723%
	(b) To re-elect Kate Priestley	21,420	2,183	578	90.751%
	(c) To re-elect William Ralph Worsley	21,688	1,899	600	91.949%
	(d) To elect Neil Andrew Stothard	21,878	1,642	665	93.019%

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