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9 Sep 2021 11:49
AGM Statement and trading update
Mothercare plc Annual General Meeting 9 September 2021: Results
At the annual general meeting held at 11.00am on 9 September 2021, the resolutions before the meeting were passed.
The following proxy votes had been received by the Company in respect of the resolutions:
| Resolution | Votes For | % | Votes Against | % | Votes total | % ISC | Votes withheld* | |
| 1 | To receive the annual accounts, directors’ report, strategic report, directors’ remuneration report and auditor’s report | 203,869,412 | 99.95 | 93,551 | 0.05 | 203,962,963 | 36.17 | 56,943,094 |
| 2 | To approve the directors’ remuneration report | 260,708,127 | 99.93 | 187,854 | 0.07 | 260,895,981 | 46.27 | 10,076 |
| 3 | To re-elect Clive Whiley as a director | 260,759,725 | 99.95 | 138,544 | 0.05 | 260,898,269 | 46.27 | 7,788 |
| 4 | To re-elect Andrew Cook as a director | 260,763,811 | 99.95 | 136,820 | 0.05 | 260,900,631 | 46.27 | 5,426 |
| 5 | To re-elect Gillian Kent as a director | 260,770,556 | 99.95 | 133,261 | 0.05 | 260,903,817 | 46.27 | 2,240 |
| 6 | To re-elect Mark Newton-Jones as a director | 260,750,617 | 99.94 | 151,700 | 0.06 | 260,902,317 | 46.27 | 3,740 |
| 7 | To elect Brian Small as a director | 260,759,837 | 99.95 | 142,360 | 0.05 | 260,902,197 | 46.27 | 3,860 |
| 8 | Re-appoint auditors | 260,834,415 | 99.97 | 66,964 | 0.03 | 260,901,379 | 46.27 | 4,678 |
| 9 | Auditors remuneration | 260,858,104 | 99.98 | 43,787 | 0.02 | 260,901,891 | 46.27 | 4,166 |
| 10 | Authority for the directors to allot shares | 260,568,545 | 99.87 | 333,071 | 0.13 | 260,901,616 | 46.27 | 4,441 |
| 11 | To authorise political donations by the company and its subsidiaries | 260,228,321 | 99.75 | 657,789 | 0.25 | 260,886,110 | 46.27 | 19,947 |
| 12 | Authority to disapply pre-emption rights | 260,733,467 | 99.93 | 170,579 | 0.07 | 260,904,046 | 46.27 | 2,011 |
| 13 | Authority to further disapply pre-emption rights | 260,757,057 | 99.94 | 147,487 | 0.06 | 260,904,544 | 46.27 | 1,513 |
| 14 | Authority to purchase own shares | 260,782,090 | 99.96 | 96,961 | 0.04 | 260,879,051 | 46.27 | 27,006 |
Resolutions 12 to 14 were Special Resolutions.
Notes
* A vote withheld is not a vote in law and is not counted in the calculation of votes ‘for’ and ‘against’ each resolution
As at 8 September 2021, the Company’s issued share capital and total voting rights consisted of 563,836,626 ordinary shares each carrying voting rights. There are no shares in treasury. As a result, proxy votes representing approximately 46% of the voting capital were cast for the AGM.
The full text of the resolutions can be found in the Notice of Meeting on the Company’s website, www.mothercareplc.com.
Trading Update
Whilst we still anticipate that the steady state operation of our existing retail franchise operations, in more normal circumstances, should exceed annual operating profits of £15 million, the Group has continued to be impacted by Covid-19 during this financial year. For the first 21 weeks of our current financial year to March 2022 our total retail sales were £136 million, generating an adjusted EBITDA of approximately £4.0 million representing a significant improvement over the adjusted EBITDA of £2.2 million reported for the year ended 27 March 2021.
Further details:
Investor and analyst enquiries to:
Mothercare plc Email: investorrelations@mothercare.com
Clive Whiley, Chairman
Andrew Cook, Chief Financial Officer
Numis Securities Limited Tel: 020 7260 1000
(Nominated Advisor & Joint Corporate Broker)
Luke Bordewich
Henry Slater
finnCap (Joint Corporate Broker) Tel: 020 7220 0500
Christopher Raggett
Media enquiries to:
MHP Communications Email: mothercare@mhpc.com
Simon Hockridge Tel: 07709 496125
Alistair de Kare-Silver
The trading information contained within this announcement is deemed by the Company to constitute inside information and upon publication this inside information is now considered to be in the public domain.
The person responsible for the release of this announcement is Lynne Medini, Group Company Secretary.
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