Last checked at 28 Apr 2020 11:19
28 April 2020
FRANCHISE BRANDS PLC
("Franchise Brands", the "Company" or the "Group")
Result of Annual General Meeting
Franchise Brands plc (AIM: FRAN), a multi-brand franchise business, is pleased to announce that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed on a poll.
Accordingly, the 4,078,389 Second Placing Shares, as defined in the announcement at 12:44 on 21 April 2020, will be issued and are expected to be admitted to trading on AIM on 30 April 2020 ("Admission") to complete the Placing.
Further, the scrip dividend as announced on 30 March 2020 will proceed and shareholders have until noon on 26 May 2020 to elect for the scrip dividend instead of the cash dividend.
The Group is not providing an AGM Trading Update, as this was provided in the Proposed Placing announcement at 16:38 on 20 April 2020.
The proxy votes received from shareholders on each resolution are set out below:
| No. of votes for | % | No. of votes against | % | Total votes cast (excluding votes withheld) | No. of votes withheld |
ORDINARY RESOLUTIONS |
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1. To receive the 2019 report and financial statements | 60,935,019 | 100.0% | - | 0.0% | 60,935,019 | - |
2. Declaration of Final Dividend | 60,935,019 | 100.0% | - | 0.0% | 60,935,019 | - |
3. Offer of scrip dividend | 60,929,424 | 100.0% | - | 0.0% | 60,929,424 | 5,595 |
4. Re-election Robin Christian Bellhouse | 60,931,019 | 100.0% | 4,000 | 0.0% | 60,935,019 | - |
5. Re-election of Julia Rosalind Choudhary | 60,929,736 | 100.0% | 4,000 | 0.0% | 60,933,736 | 1,283 |
6. Re-election of John Christopher Stewart Dent | 60,931,019 | 100.0% | 4,000 | 0.0% | 60,935,019 |
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7. Re-election of Timothy John Harris | 60,931,019 | 100.0% | 4,000 | 0.0% | 60,935,019 | - |
8. Re-election of Stephen Glen Hemsley | 60,927,081 | 100.0% | 4,000 | 0.0% | 60,931,081 | 3,938 |
9. Re-election of Peter John Molloy | 60,931,019 | 100.0% | 4,000 | 0.0% | 60,935,019 | - |
10. Re-election of David John Poutney | 60,528,974 | 99.9% | 46,045 | 0.1% | 60,575,019 | 360,000 |
11. Re-election of Colin David Rees | 60,929,736 | 100.0% | 4,000 | 0.0% | 60,933,736 | 1,283 |
12. Re-election of Nigel William Wray | 60,927,081 | 100.0% | 7,938 | 0.0% | 60,935,019 | - |
13. To reappoint BDO LLP as auditors of the Company | 60,931,019 | 100.0% | 4,000 | 0.0% | 60,935,019 | - |
14. Authority to determine remuneration of auditor | 60,927,081 | 100.0% | 7,938 | 0.0% | 60,935,019 | - |
15. Authority to allot shares | 60,931,019 | 100.0% | 4,000 | 0.0% | 60,935,019 | - |
SPECIAL RESOLUTIONS |
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16. Disapplication of pre-emption rights | 57,716,874 | 94.7% | 3,210,785 | 5.3% | 60,935,019 | 7,360 |
17. Disapplication of pre-emption rights (for an acquisition or other specified capital investment) | 57,769,115 | 94.8% | 3,160,309 | 5.2% | 60,929,424 | 5,595 |
18. Authority to purchase own shares | 60,933,736 | 100.0% | 1,283 | 0.0% | 60,935,019 | - |
Enquiries:
Franchise Brands plc | + 44 (0) 1625-813231 |
Stephen Hemsley, Executive Chairman |
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Chris Dent, Chief Financial OfficerJulia Choudhury, Corporate Development Director |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) | +44 (0) 203 328 5656 |
Jeremy Porter / Liz Kirchner / Nicholas Chambers |
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Dowgate Capital Limited (Joint Broker) | +44 (0) 203 903 7715 |
James Serjeant / Colin Climie |
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MHP Communications (Financial PR) | +44 (0) 203 128 8100 |
Katie Hunt | 07884-494112 franchisebrands@mhpc.com |
About Franchise Brands plc
Franchise Brands is focused on building market-leading businesses in selected customer segments using primarily a franchise model. The Group currently has a combined network of over 450 franchisees across five franchise brands. Our focus is on established brands which can benefit from our shared support services, specialist sector expertise, management experience and group resources.
Franchise Brands' portfolio of market-leading service businesses grew in 2019 with the acquisition of Willow Pumps. The addition of Willow Pumps, a direct labour organisation, represented an important step in expanding Metro Rod and Metro Plumb's range of services to the commercial market.
The Group is organised into a B2B division comprised of Metro Rod, Metro Plumb and Willow Pumps, and a B2C division incorporates ChipsAway, Ovenclean and Barking Mad. This divisional organisation of our brands is designed to provide a greater focus and structure to support the strategic development of our B2B and B2C brands.
Each of our brands are leaders in their respective markets and each brand has a long trading history. The combined trading history of all the Group's brands is over 125 years.
Franchise Brands plc employs some 290 people across three principal locations in Macclesfield, Kidderminster and Aylesford.
For further information, visit www.franchisebrands.co.uk.