Last checked at 4 Jul 2019 07:00
4 July 2019
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, port and marine consulting services principally to the shipping and energy industries, is pleased to announce that each of the resolutions proposed at its Annual General Meeting (the "AGM"), held yesterday, 3 July 2019, 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 | 11,353,126 | 99.99 | 1,200 | 0.01 | 11,354,326 | 36.12% | 36,946 |
2 | Receipt of the directors' remuneration report (other than the remuneration policy) | 11,235,071 | 99.15 | 96,867 | 0.85 | 11,331,938 | 36.05% | 59,334 |
3 | Declare a final dividend | 11,354,274 | 99.97 | 3,322 | 0.03 | 11,357,596 | 36.13% | 33,676 |
4 | Re-election of Ronald Series as a director | 11,308,694 | 99.68 | 36,199 | 0.32 | 11,344,893 | 36.09% | 46,379 |
5 | Re-election of Jürgen Breuer as a director | 11,241,343 | 99.57 | 49,103 | 0.43 | 11,290,446 | 35.92% | 100,826 |
6 | Re-election of Steve Kunzer as a director | 11,311,661 | 99.70 | 34,116 | 0.30 | 11,345,777 | 36.09% | 45,495 |
7 | Re-election of Lesley Watkins as a director | 11,304,101 | 99.65 | 39,292 | 0.35 | 11,343,393 | 36.08% | 47,879 |
8 | Re-election of James Kidwell as a director | 8,367,983 | 74.11 | 2,923,863 | 25.89 | 11,291,846 | 35.92% | 99,426 |
9 | Re-election of Nicholas Stone as a director | 11,312,119 | 99.71 | 32,367 | 0.29 | 11,344,486 | 36.09% | 46,786 |
10 | Re-appointment of BDO LLP as auditors | 11,318,674 | 99.77 | 26,379 | 0.23 | 11,345,053 | 36.09% | 46,219 |
11 | Authority to determine the auditor's remuneration | 11,327,966 | 99.91 | 10,534 | 0.09 | 11,338,500 | 36.07% | 52,772 |
12 | Authority to allot share capital | 11,249,571 | 99.21 | 90,024 | 0.79 | 11,339,595 | 36.07% | 51,677 |
13 | Authority to disapply pre-emption rights* | 8,547,597 | 75.66 | 2,750,469 | 24.34 | 11,298,066 | 35.94% | 93,206 |
14 | Authority of directors to further disapply pre-emption rights* | 8,595,784 | 75.76 | 2,749,719 | 24.24 | 11,345,503 | 36.09% | 45,769 |
15 | Authority to purchase own shares* | 11,283,005 | 99.36 | 72,231 | 0.64 | 11,355,236 | 36.12% | 36,036 |
16 | Authority to call a general meeting (other than the Annual General Meeting) on 14 clear days' notice* | 11,331,193 | 99.82 | 20,193 | 0.18 | 11,351,386 | 36.11% | 39,886 |
* indicates special resolutions requiring a 75% majority.
In accordance with the 2018 UK Corporate Governance Code, the Board notes that although Resolution 8 (Re-election of James Kidwell as a director) and Resolutions 13 and 14 (authorities to disapply pre-emption rights) passed with the requisite majority, they received 20% or more votes against the Board's recommendation. The Board appreciates the feedback it has received to date on these matters and will look to continue to engage in a dialogue with the Company's shareholders in the coming months in relation to them.
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 31,436,351.
For further information, contact:
Braemar Shipping Services | |
James Kidwell, Chief Executive | Tel +44 (0) 20 3142 4100 |
Nick Stone, Finance Director | |
Peter Mason, Company Secretary | |
Shore Capital | |
Robert Finlay / Antonio Bossi / Henry Willcocks | Tel +44 (0) 20 7601 6100 |
Buchanan | |
Charles Ryland / Vicky Hayns / Stephanie Watson | 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, port and marine consulting services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 30 locations 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