19 Sep 2019 17:59
19 September 2019
GRESHAM HOUSE STRATEGIC PLC
(The "Company")
Results of Annual General Meeting
The Company announces that at its Annual General Meeting ("AGM") held earlier today, all the resolutions put to Shareholders were passed by the requisite majority. Resolutions 1 to 8 were passed as ordinary resolutions and Resolutions 9 and 10 were passed as special resolutions. The results of the proxy votes received were as follows:
Resolution
| For | % | Against | % |
Withheld |
1. To receive the annual report and accounts for the year ended 31 March 2019.
| 1,619,754 | 78.97 | 431,470 | 21.03 | 8 |
2. Declare a final dividend of 11.1p per share.
| 1,619,757 | 78.97 | 431,474 | 21.03 | 1 |
3. To re-elect Charles Berry as a director.
| 1,418,955 | 76.67 | 431,741 | 23.33 | 200,536 |
4. To re-elect Ken Lever as a director.
| 1,619,472 | 78.95 | 431,745 | 21.05 | 15 |
5. To re-elect David Potter as a director.
| 1,619,743 | 78.96 | 431,477 | 21.04 | 12 |
6. To re-elect Helen Sinclair as a director.
| 1,619,721 | 78.96 | 431,483 | 21.04 | 28 |
7. To re-appoint BDO (UK) LLP as auditor and authorise the determination of their fees.
| 1,619,744 | 78.96 | 431,485 | 21.04 | 3 |
8. To authorise the Directors to allot shares.
| 1,619,724 | 78.96 | 431,497 | 21.04 | 11 |
9. To authorise the Directors to disapply pre-emption rights.
| 1,619,027 | 78.93 | 432,161 | 21.07 | 44 |
10. To authorise the Company to purchase its own shares.
| 1,619,698 | 78.96 | 431,496 | 21.04 | 38 |
The Board has noted that the votes cast against all resolutions were slightly greater than 20% of those exercised in total by the Company's shareholders. The vast majority of these shares, however, were voted by only one institution. The Board engages with that shareholder on an ongoing basis (as it does with others) and reflects carefully upon the feedback received. While disappointed, the Board recognises the reasons behind the voting stance taken and will continue to engage with that shareholder, and others, during the coming year.
Notes:
1. Any proxy appointments giving discretion to the Chairman of the Meeting have been included in the "For" total.
2. Votes "For" and "Against" any resolution are expressed as a percentage (rounded to two decimal places) 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 votes "For" or "Against" a resolution.
4. The Company's total ordinary shares in issue (total voting rights) as at 19 September 2019 was 3, 555,330 ordinary shares of 50 pence each. Ordinary shareholders are entitled to one vote per ordinary share held.
For further information please contact:
Gresham House Strategic plc | David Potter | 07711 450 391 |
Gresham House Asset Management Ltd Investment Manager | Graham Bird | 0203 837 6270 |
finnCap Ltd Nominated Adviser and Broker | Matt Goode / William Marle | 0207 220 0500
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