Good afternoon, ladies and gentlemen. It is 5 p. M. Irish Standard Time. Welcome to the 2020 Annual General Meeting of Shareholders of Seagate Technology Plc.
I will now turn the meeting over to Christopher McLaughlin.
Thank you. I'm Christopher McLaughlin, a partner to Archicox Irish Legal Advisors to the company. I'm joined telephonically by Michael Cannon, Mark Adams, Judy Brunner, William Coleman, Jay Gelmacher, Dylan Haggart, Steve Russo, Dave Mosley, Stephanie Tilenius, Ed Zander and Kate Schulke of CA Technology Plc. We're also joined by the company's authors, Ernst and Young. I want to welcome and thank you all for participating in this meeting.
Unfortunately, due to public health concerns relating to the COVID-nineteen virus, none of the Board of Directors nor the company's officers have been able to travel to Dublin to attend the shares in person. In accordance with the terms of the proxy cards completed and returned by the company's shareholders, Mr. Michael Cannon and Ms. Catherine Schulke have each substituted me along with my colleague Sinead McDonough to act as duly appointed proxies in their absence. Given the circumstances, in accordance with the provisions of the company's articles of association, as the Chair of the company, Mr.
Cannon and each of the other directors have confirmed that they are unable to be present in person at this meeting in Dublin. The members present shall therefore choose one of their number to chair the Annual General Meeting. As Julie appointed proxy in respect of a majority of the voting power of the company as of the record date in accordance with the provisions of the company's articles of association, I propose to appoint myself to chair the meeting such proposed amendment appointment to be voted on a show of hands. Please raise your hands now to approve my proposed appointment to the chair. I confirm that based on a show of hands, the appointment has been approved and I will therefore proceed to chair the meeting.
Let me begin by calling this 2020 Annual General Meeting to order. We are conducting this meeting in accordance with the company's articles of association. If you're a record holder of the company's shares and are attending this meeting in person in Dublin and did not yet vote or if you wish to change your vote, please raise your hand and we will give you a bank proxy card for voting. We will collect these proxy cards at the end of the formal business part of the meeting. As a reminder, virtual voting will not be allowed in this meeting for those joining through the web portal.
If you are attending this meeting in person in Dublin and you hold company shares through a bank, broker or other nominee, then you were required to follow that nominee's voting instructions and you cannot vote or revoke a prior vote at today's meeting unless you have and present a valid proxy from the nominee that authorizes you to vote your shares in person at this meeting. If you have such a proxy, please raise your hand, present the proxy and we will give you a blank proxy card. If you are voting in person today, please make certain that you sign the proxy card and print your name under your signature. The Inspector of Elections will tabulate the votes and the Secretary will report the results after the voting is completed. Are there any questions regarding the voting procedure?
As a matter of company law, the company is required to conduct a review of the company's affairs and present our statutory financial statements for the year ended July 3, 2020. Those financial statements will be presented and a review of the company's affairs for fiscal year 2020 will be carried out immediately after addressing the items for proposal. Before we start with the agenda, I would like to review some of the rules for the meeting. A copy of which are available in the room and can be accessed under the Meeting Materials section of the screen. Shareholders attending this meeting in person in Dublin who would like to speak and shareholders joining virtually who would like to ask a question are welcome to do so in accordance with these rules.
Shareholders may ask questions regarding the business items on the agenda, and I will call for any questions following each of today's proposals. There will also be a general question and answer period at the end of the meeting. For shareholders attending in person in Dublin, when asking a question, please begin by stating your name, the organization you represent, if any, and whether you're a shareholder or a property holder. For shareholders joining the meeting virtually, when submitting questions via the online portal, please state your name and the organization you represent, if any. Questions submitted online related to matters properly before the meeting will be posed at the meeting by a representative of Seagate's legal department.
Please note that similar questions will be aggregated and posed once. Any questions submitted that we are not able to get to or address during the course of the meeting will be responded to by a representative of the company in due course after the meeting. I have proof by affidavits that notes that this meeting has been duly given and that the proxy statement dated August 31, 2020, the annual report for the fiscal year ended July 3, 2020 and the company's IR statutory financial statements for the fiscal year ended July 3, 2020, have been distributed to all shareholders of record as of August 24, 2020. Mr. David Hatton, a representative of the company and who is present here at the meeting in Dublin, will serve as our Inspector of Elections and has signed the oath of office.
The oath of the Inspector will also be filed with the minutes of the meeting. The Inspector of Elections has a list of the company's shareholders of record as of August 24, 2020, the record date for this meeting. And he's advised me that as of that date, there were 250 1,536,957 ordinary shares issued and outstanding, each entitled to one vote. The Inspector of Elections has further informed me that immediately prior to the commencement of this meeting, we had approximately 232,369,629 ordinary shares present at this meeting in person or by proxy. This represents more than 90% of the issued and outstanding ordinary shares entitled to vote at the meeting, which being a majority of such shares is a sufficient number of shares to constitute a quorum.
Accordingly, this meeting is duly constituted and the business of the meeting may proceed. We will now begin the formal business of the meeting. Under Article 86 of the company's articles of association, the chair of the meeting had the right to demand that a resolution be voted on by way of a poll as opposed to a show of hands. I therefore call for a poll to be taken for each of the 4 proposals being put forward at this meeting. We will take the poll at the end of the meeting.
For shareholders present and voting in person in Dublin, please mark your proxy card to indicate your vote on each proposal if you have not already voted or wish to change your vote. I will read each of the proposals and upon conclusion will ask for a motion and a second. The first order of business is the election by way of separate resolutions of directors. The nominees for the Board are Mark Adams, Judy Brunner, Michael Cannon, William Coleman, Jay Gellbacher, Dylan Haggart, Steven Lusso, William D. Dave Mosley, Stephanie Talerius and Edward Zander.
I note that the company has an advanced notice provisions in its articles of association and therefore all nominations are closed. The Board unanimously recommends that you vote for the election of each of the 10 nominees in Proposals 1A through 1J in the proxy statement. Are there any questions on this proposal?
Chris, there are no questions on this proposal at this time.
Thank you, Leanne. The second order of business is to approve in an advisory non binding vote the compensation of the company's named executive officers, our annual sale and pay vote. The Board unanimously recommends that you vote for proposal 2 approving the company's executive compensation policies and procedures as described in the proxy statement. Are there any questions on this proposal?
No questions, Chris.
Thank you, Leanne. The 3rd order of business is to ratify in a non binding vote the appointment of Ernst and Young LLP as the independent auditors of the company for fiscal year 2021 and in a binding vote to authorize the audit committee of the company's Board to set the auditors' remuneration. The Board unanimously recommends that you vote for Proposal 3, gratifying in a non binding vote the appointment of Ernst and Young LLP as the independent auditors of the company for fiscal year 2021 and in a binding vote to authorize the Audit Committee of the company's Board set the auditors remuneration. Are there any questions on this proposal?
Chris, there are no questions at this time.
Thank you, Leanne. The 4th order of business is to determine the price range at which the company can reallot shares that it acquires its treasury shares under Irish law. The Board unanimously recommends that you vote for Proposal 4 to determine the price range at which the company can reallot shares that it acquires its treasury shares under Irish law. Are there any questions at this time?
Chris, there are no questions on this proposal.
Thank you, Leanne. I now propose each of the foregoing resolutions.
I second each of the foregoing resolutions.
The last license of business are to present the company's Irish statutory financial statements for the fiscal year ended July 3, 2020, and the reports of the directors and the officers thereon and to carry out a review of the company's affairs for fiscal year 2020. A copy of those financial statements and reports have been made available to the shareholders of the company in advance of this meeting in accordance with the Irish law requirements and may also be found on the table in the meeting room under the Meeting Materials section of the screen for those joining virtually and on the company's website. A review of the company's affairs for fiscal year 2020 is contained in the company's financial statements and the report of the directors. In particular, you're invited to review Item 7 entitled Management's Discussion and Analysis of Financial Condition and Results of Operations, starting on Page 38 of the company's Annual Report on Form 10 ks, which is available under the Meeting Materials section of the screen for those joining virtually as well as on the company's website. Are there any questions regarding the company's affairs for the past financial year or on the financial statements and related reports?
Chris, there are no questions at this time.
Thank you, Leanne. I now ask for a final call for proxy cards. Please raise your hands and we will have them collected and recorded by the Inspector of Elections. I now declare the polls closed and direct the tabulation of the poll cards and proxies. The inspection of elections has informed me that each of the 10 nominees has been elected by a vote of a majority of the shares represented at this meeting.
The proposals 23 have passed by a majority of the votes represented at this meeting and that proposal 4 is a special resolution that has passed by an affirmative vote of more than 75% of the shares represented at this meeting. With the results of these votes, I declare that Mark Adams, Judy Brunner, Michael Cannon, William Coleman, Jay Gallmacher, Dylan Haggart, Steven Lusso, Dave Mosley, Sethi Talenius and Edward Zander have each been elected to serve on the Board and that each of the other three proposals have passed pursuant to the voting requirements of that proposal. That concludes the formal business of today's shareholder meeting. I declare that the formal part of today's meeting is hereby concluded. We will now take questions from the floor.
If you have a question for the Board, management team or Ernst and Young, please stand if you're attending in person. If you are joining virtually, please submit your question via the online portal. If you are attending in person, when I recognize you, please begin by stating your name, the organization you represent, if any, and whether you are a shareholder or a proxy holder. If you are joining the meeting virtually, please include your name and the organization you represent, if any, when submitting your question. As noted earlier, similar questions will be aggregated and posed once.
Any questions submitted that we are not able to get to or address during the meeting will be responded to by a representative of the company in due course after the meeting.
Chris, there are no questions in the queue.
Thank you, Leanne. If there are no questions on that basis, I would like to take this opportunity on behalf of the Board and the company's management team to thank the company's employees, customers, suppliers, partners and shareholders for their continued support. Thank you all for joining this meeting. This meeting is now concluded and adjourned.
The 2020 Annual General Meeting of Shareholders of Seagate Technology Plc has now