28 Sep 2017 18:08
28 September 2017
MBL Group PLC
("MBL" or the "Company")
Result of Annual General Meeting and General Meeting and Directorate Change
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Further to the announcement made earlier today, MBL announces the results of the two outstanding polls below.
At the Annual General Meeting ("AGM") held at 10:00am today, a poll was called on all the resolutions. The result of the poll is set out below:
Resolution | Votes for | % | Votes against | % | Votes total |
1. Annual report and accounts | 12,290,316 | 83.87 | 2,363,553 | 16.13 | 14,653,869 |
2. Reappointment of director | 6,595,936 | 45.01 | 8,057,933 | 54.99 | 14,653,869 |
3. Reappointment of auditors | 11,423,101 | 77.95 | 3,230,768 | 22.05 | 14,653,869 |
4. Remuneration of auditors | 12,437,082 | 84.87 | 2,216,787 | 15.13 | 14,653,869 |
5. Political donations and political expenditure | 2,517,767 | 17.18 | 12,136,102 | 82.82 | 14,653,869 |
6. Authority to allot shares | 4,870,658 | 33.58 | 9,633,211 | 66.42 | 14,503,869 |
7. Disapplication of pre-emption rights | 4,870,658 | 33.58 | 9,633,211 | 66.42 | 14,503,869 |
8. Purchase by the Company of its own shares | 11,263,085 | 77.66 | 3,240,784 | 22.34 | 14,503,869 |
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Resolutions 1, 3, 4 and 8 were passed. Resolutions 2, 5, 6 and 7 have not been passed.
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At the General Meeting held at 10:30am today ("Second General Meeting"), a poll was called and the result is set out below:
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Resolution | Votes for | % | Votes against | % | Votes total |
Resolution - to (i) cancel any non-contractual directors' bonus or similar arrangements for directors and (ii) prevent approval of any bonus or similar arrangements for directors without shareholder approval by ordinary resolution. | 8,069,136 | 55.07% Â | 6,584,700 | 44.93% Â | 14,653,836 |
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Because this was a special resolution, 75% of the vote would have been required to pass the resolution, consequently the resolution has not been passed.
As a result of Resolution 2 not being passed at the AGM, Peter Palframan has resigned from the Board with immediate effect. The Board would like to thank Peter for all his effort and commitment, particularly with regard to the sale process.
The Board wishes to make shareholders aware that it is in advanced negotiations with a potential new executive Director. The Board hopes to announce the appointment of the new executive Director shortly.
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ENDS
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For further information, please contact:Â
MBL Group plc Tel: 01772 440440
Tim Jackson-Smith
SPARK Advisory Partners Limited Tel:Â 0113 370 8970
(NOMAD)
Sean Wyndham-Quin
Mark Brady
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