Last checked at 2 Aug 2017 16:05
CML Microsystems Plc
(The "Company" or the "Group")
Results of the 2017 Annual General Meeting
CML Microsystems Plc, ("CML" or "the Group"), which designs, manufactures and markets mixed-signal and Radio Frequency (RF) semiconductors, primarily for global communication and solid state storage markets, today held its Annual General Meeting ("AGM") at 11.00am, Wednesday 2 August 2017. All resolutions put to the shareholders as set out in the Notice of AGM dated 23 June 2017 were passed with the requisite majorities on a show of hands. Details of the proxy votes cast are as follows:
Resolution | For | % | Against | % | Withheld | % |
1. To receive and adopt the Group's consolidated financial statements and reports of the Directors and auditor for the year ended 31st March 2017. | 13,129,146 | 100.00 | 0 | 0.00 | 0 | 0.00 |
2. To receive and approve the Directors' Remuneration Report for the year ended 31st March 2017. | 13,127,786 | 99.94 | 7,774 | 0.06 | 0 | 0.00 |
3. To declare a final dividend of 7.4p per 5p ordinary share for the year ended 31 March 2017. | 13,129,146 | 100.00 | 0 | 0.00 | 0 | 0.00 |
4. To re-appoint H. F. Rudden as Director, who retires from the Board by rotation. | 13,129,146 | 100.00 | 0 | 0.00 | 0 | 0.00 |
5. To re-appoint N. G. Clark as Director, who retires from the Board by rotation. | 11,963,115 | 91.07 | 1,089,067 | 8.29 | 83,378 | 0.63 |
6. To re-appoint G. F. Barnes as Director, who was appointed to the Board on 1 April 2017. | 13,124,576 | 99.97 | 460 | 0.00 | 4,110 | 0.03 |
7. To send or supply all documents or information relating to the Company to members by making them available on a website. | 13,125,516 | 99.97 | 3,630 | 0.03 | 0 | 0.00 |
8. To re-appoint RSM UK Audit LLP, as auditor of the Company. | 13,129,146 | 100.00 | 0 | 0.00 | 0 | 0.00 |
9. To authorise the Directors to determine the remuneration of the auditor. | 13,129,146 | 100.00 | 0 | 0.00 | 0 | 0.00 |
10. To authorise the Directors to allot shares. | 13,129,146 | 100.00 | 0 | 0.00 | 0 | 0.00 |
11. To disapply the pre-emption provisions of The Companies Act 2006. | 13,129,146 | 100.00 | 0 | 0.00 | 0 | 0.00 |
12. To disapply the pre-emption provisions of The Companies Act 2006 for the purposes of financing an acquisition or capital investment. | 12,563,246 | 95.64 | 572,314 | 4.36 | 0 | 0.00 |
13. To renew the authority to the Company to make market purchases of its own shares. | 13,126,646 | 99.98 | 2,500 | 0.02 | 0 | 0.00 |
CML Microsystems Plc Chris Gurry, Group Managing DirectorNeil Pritchard, Group Financial Director
| www.cmlmicroplc.comTel: +44(0)1621 875 500 |
Cenkos Securities plc Alex Aylen (Sales)Max Hartley (Corporate Finance)
| Tel: +44(0)20 7397 8900 |
SP Angel Corporate Finance LLP Jeff Keating
| Tel: +44(0)203 463 2260 |
Alma PR Josh Royston Robyn Fisher
|
Tel: +44 (0)7780 901979 Tel: +44 (0)7540 706191 |
About CML Microsystems PLC
CML designs and develops semiconductors for the industrial storage and communications markets. The Group utilises a combination of in-house and outsourced manufacturing and has trading operations in Europe, the Far East and USA. CML targets niche markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading telecoms equipment providers and industrial product manufacturers.
The spread of its customers and products largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the ever increasing trend towards solid state storage devices in the commercial and industrial sectors, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial communications networks for voice and/or data communications linked to the industrial internet of things (IIoT).
The Group is cash-generative, has no borrowings and is dividend paying.