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22 Oct 2019 11:30
22 October 2019
Accrol Group Holdings plc
("Accrol", the "Company" or the "Group")
AIM: ACRL
Result of 2019 Annual General Meeting
Accrol, the leading independent tissue converter in the UK, announces that all of the resolutions set out in the Notice of AGM were passed by the requisite majority at the Company's AGM, held earlier today.
Details of the proxy votes received by the Company are as follows:
Resolution | For | Against | Total | Withheld | |||
No. of votes | % | No. of votes | % | No. of votes | % | No. of votes | |
1. To receive the Annual Report and Accounts | 122,707,536 | 99.97 | 28,611 | 0.02 | 122,736,147 | 100.00
| 0 |
2. To elect Simon Allport | 118,764,933 | 96.82 | 3,889,105 | 3.17 | 122,654,038 | 100.00
| 82,109 |
3. To appoint BDO as auditor | 122,219,373 | 99.64 | 428,680 | 0.35 | 122,648,053 | 100.00
| 88,094 |
4. To approve the directors' remuneration report | 73,488,398 | 69.77 | 31,823,226 | 30.22 | 105,311,624 | 100.00
| 17,424,523 |
5. To authorise the Directors to allot relevant securities | 118,751,224 | 99.90 | 116,058 | 0.1 | 118,867,282 | 100.00
| 3,860,494 |
6. To authorise the directors to allot equity securities for cash without making a pre- emptive offer to shareholders* | 122,605,671 | 99.91 | 116,058 | 0.09 | 122,721,729 | 100.00
| 6,047 |
*Special resolution
Notes:
1. | Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution. |
2. | Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution. |
3. | A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against". |
4. | The number of shares in issue on 22 October 2019 was 195,246,536 with no shares in treasury. |
5. | The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.accrol.com. |
In compliance with the QCA Code, the Board notes the percentage of votes cast against Resolution 4 to approve the directors' remuneration report. Shareholders with significant holdings in the Company were consulted ahead of the vote and the Board remains open to further discussions.
Enquiries:
For further information, please contact: | |
Accrol Group Holdings plc | |
Dan Wright, Executive Chairman | Tel: +44 (0) 1254 278 844 |
Gareth Jenkins, Chief Executive Officer | |
Zeus Capital Limited (Nominated Adviser & Broker) | |
Dan Bate / Andrew Jones | Tel: +44 (0) 161 831 1512 |
Dominic King / John Goold | Tel: +44 (0) 203 829 5000 |
Belvedere Communications Limited | |
Cat Valentine (cvalentine@belvederepr.com) | Tel: +44 (0) 7715 769 078 |
Keeley Clarke (kclarke@belvederepr.com) | Tel: +44 (0) 7967 816 525 |
Llew Angus (langus@belvederpr.com) | Tel: +44 (0) 7407 023 147 |
Notes to Editors
New Group website: www.accrol.com
Accrol Group Holdings plc is a leading tissue converter and supplier of toilet rolls, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK.
Our vision is to deliver the best possible value to the UK consumer on essential everyday tissue products. We are shaking up the traditional tissue brands by delivering the quality the consumer demands for the price they want to pay.
The business operates from four sites in Lancashire:
• A manufacturing, storage and distribution facility in Blackburn;
• A storage and administrative centre in Blackburn;
• A facial tissue plant, also in Blackburn; and
• A manufacturing, storage and distribution facility in Leyland.
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