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19 Jun 2018 16:33
Luceco plc
(the "Company")
19 June 2018
Annual General Meeting ("AGM") Results
The Company announces that at its Annual General Meeting held earlier today all the resolutions set out in the Notice of Annual General Meeting were passed by the requisite majority. Each of the resolutions put to the AGM was voted on by way of a poll. The results of the poll for each resolution were as follows:
Resolution * indicates Special Resolution | For (No. of shares) | For (%) | Against (No. of shares) | Against (%) | Votes Withheld (No. of shares) | Total issued. share capital instructed (%) | |
1. To receive the Annual Report and Accounts. | 92,520,227 | 82.16% | 20,084,792 | 17.84% | 1,090,722 | 70.03% | |
2. To approve the Directors' Remuneration Report. | 113,230,035 | 99.59% | 465,706 | 0.41% | 0 | 70.71% | |
3. To elect Matt Webb as a Director. | 113,675,713 | 99.99% | 7,500 | 0.01% | 12,529 | 70.70% | |
4. To re-appoint KPMG LLP as auditor of the Company. | 86,395,151 | 77.63% | 24,900,960 | 22.37% | 2,399,631 | 69.21% | |
5. To authorise the Audit Committee to determine the auditors' remuneration. | 113,678,568 | 99.99% | 16,769 | 0.01% | 404 | 70.71% | |
6. To authorise the Company to make political donations. | 109,961,137 | 97.37% | 2,965,429 | 2.63% | 769,174 | 70.23% | |
7. To authorise the Directors to allot ordinary shares. | 111,837,469 | 98.65% | 1,526,670 | 1.35% | 331,603 | 70.50% | |
8. To disapply pre-emption rights.* | 111,076,810 | 97.99% | 2,281,611 | 2.01% | 337,321 | 70.50% | |
9. To disapply pre-emption rights for financing an acquisition.* | 110,632,186 | 97.60% | 2,726,234 | 2.40% | 337,321 | 70.50% | |
10. To authorise the Company to purchase its own ordinary shares.* | 112,895,811 | 99.59% | 466,923 | 0.41% | 333,007 | 70.50% | |
11. To authorise the Directors to hold general meetings on not less than 14 clear days' notice.* | 113,049,920 | 99.43% | 644,014 | 0.57% | 1,808 | 70.71% | |
*Special Resolution
In relation to today's AGM, the Board recognises that there has been a number of votes cast against Resolution 4 (re-appointment of the external auditors).
The Board takes the views of shareholders seriously and will consult with them over the coming months to ensure their views regarding the re-appointment of the external auditors are considered in detail.
The Board would like to reiterate its commitment to maintaining the highest governance standards, supported by a robust external audit.
NOTES:
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1. | All resolutions were passed.
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2. | Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.
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3. | Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.
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4. | A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution nor in the calculation of the proportion of "Total issued share capital instructed" for any resolution.
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5. | The number of shares in issue at close of business on 15 June 2018 was 160,800,000 (the "Share Capital") and at that time, the Company did not hold any shares in treasury.
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6. | The proportion of "Total issued share capital instructed" for any resolution is the total of votes validly cast for that resolution (i.e. the total votes "For" and "Against" that resolution) expressed as a percentage of the Share Capital.
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7. | The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.lucecoplc.com
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8. | A copy of resolutions 7 - 11 passed at the AGM will shortly be submitted to the National Storage Mechanism and will be available for inspection at www.morningstar.co.uk/uk/NSM
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9. | The complete poll results will be available shortly on the Company's website at www.lucecoplc.com
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For further information please contact:
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Luceco plc John Hornby, Chief Executive Officer Matt Webb, Chief Financial Officer
| via MHP Communications 020 3128 8100 | |
MHP Communications Tim Rowntree James White Ollie Hoare Rossina Garcia
| 020 3128 8100 | |
Numis Securities Stuart Skinner Oliver Hardy Toby Adcock | 020 7260 1000 | |
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