Last checked at 19 Aug 2020 17:02
19 August 2020
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
Results of Annual General Meeting
Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, is pleased to announce that each of the resolutions proposed at its Annual General Meeting (the "AGM") held earlier today were duly passed by means of a poll vote.
The poll results were as follows:
Resolution | Votes For | % For | Votes Against | % Against | Total Votes | % of ISC voted | Votes Withheld | |
1 | Receipt of the audited annual accounts and reports | 8,189,856 | 99.80 | 16,465 | 0.20 | 8,206,321 | 25.88 | 1,152,774 |
2 | Receipt of the directors' remuneration report (other than the remuneration policy) | 5,179,104 | 66.00 | 2,668,132 | 34.00 | 7,847,236 | 24.75 | 1,511,859 |
3 | Approval of the directors' remuneration policy | 7,623,464 | 97.50 | 195,386 | 2.50 | 7,818,850 | 24.66 | 1,540,245 |
4 | Re-election of Jürgen Breuer as a director | 7,725,090 | 98.33 | 131,436 | 1.67 | 7,856,526 | 24.78 | 1,502,569 |
5 | Re-election of Stephen Kunzer as a director | 7,830,283 | 99.67 | 26,243 | 0.33 | 7,856,526 | 24.78 | 1,502,569 |
6 | Re-election of Ronald Series as a director | 7,740,573 | 98.54 | 114,683 | 1.46 | 7,855,256 | 24.77 | 1,503,839 |
7 | Re-election of Nicholas Stone as a director | 7,744,573 | 98.59 | 110,683 | 1.41 | 7,855,256 | 24.77 | 1,503,839 |
8 | Re-election of Lesley Watkins as a director | 7,840,513 | 99.80 | 16,013 | 0.20 | 7,856,526 | 24.78 | 1,502,569 |
9 | Re-appointment of BDO LLP as auditors | 7,811,969 | 99.52 | 37,479 | 0.48 | 7,849,448 | 24.75 | 1,509,647 |
10 | Authority to determine the auditor's remuneration | 7,815,701 | 99.44 | 44,116 | 0.56 | 7,859,817 | 24.79 | 1,499,278 |
11 | Authority to allot share capital | 7,780,880 | 99.10 | 71,059 | 0.90 | 7,851,939 | 24.76 | 1,507,156 |
12 | Authority to disapply pre-emption rights* | 6,518,779 | 83.12 | 1,323,884 | 16.88 | 7,842,663 | 24.73 | 1,516,432 |
13 | Authority to further disapply pre-emption rights* | 6,420,452 | 81.86 | 1,422,287 | 18.14 | 7,842,739 | 24.73 | 1,516,356 |
14 | Authority to purchase own shares* | 7,760,840 | 98.71 | 101,646 | 1.29 | 7,862,486 | 24.80 | 1,496,609 |
15 | Authority to call a general meeting (other than the Annual General Meeting) on 14 clear days' notice* | 7,834,434 | 99.62 | 29,717 | 0.38 | 7,864,151 | 24.80 | 1,494,944 |
* indicates special resolutions requiring a 75% majority.
In accordance with the 2018 UK Corporate Governance Code, the Board notes that although Resolution 2 (Directors' remuneration report) passed with the requisite majority, it received 20% or more votes against the Board's recommendation. The Board is working to identify and understand the reasons behind these votes and will look to engage with the Company's shareholders as appropriate in relation to the matter.
Please note that a vote withheld is not a vote under English law and is not counted in the calculation of the votes "for" and "against" a resolution. The total voting rights that members were entitled to exercise at the AGM were 31,709,205.
For further information, contact:
Braemar Shipping Services Plc | |
Ron Series, Executive Chairman | Tel +44 (0) 20 3142 4100 |
Nick Stone, Finance Director | |
Peter Mason, Company Secretary | |
finnCap | |
Matt Goode/ James Thompson/ Kate Washington | Tel +44 (0) 20 7220 0500 |
Buchanan | |
Charles Ryland / Victoria Hayns / Stephanie Watson / Matilda Abraham | Tel +44 (0) 20 7466 5000
|
Notes to Editors:
About Braemar Shipping Services Plc
Braemar Shipping Services Plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering divisions.
Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.
For more information, including our investor presentation, visit www.braemar.com