Last checked at 8 Jun 2021 15:21
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Results of the Annual General Meeting
RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to Humanitarian, Governmental and Commercial organisations globally, announces that all resolutions put to the Shareholders at the Annual General Meeting of the Company held earlier today were duly passed.
AGM Resolutions
Resolutions 1 to 7 were proposed as ordinary resolutions. Resolutions 8 to 10 were proposed as special resolutions. The proxy votes cast prior to the meeting were as follows:
Eligible votes | 171,662,973 |
Voted total (incl all validly made proxy votes) | 152,950,865 |
Voted total (%) | 89.10 |
RESOLUTIONS | Votes For | % | Votes Against | % | Votes Cast | Votes withheld |
1. To receive and adopt the annual accounts for the year ended 31 December 2020. | 152,943,492
| 100.00 | 0 | 0.00 | 152,943,492 | 7,373 |
2. To reappoint Ernst & Young LLP as auditors of the company. | 152,901,476 | 99.97 | 43,843 | 0.03 | 152,945,319 | 5,546 |
3. To authorise the directors to fix the remuneration of the auditors. | 152,907,889 | 99.97 | 38,470 | 0.03 | 152,946,359 | 4,506 |
4. To re-appoint Sangita Shah as a director. | 152,944,814 | 100.00 | 1,545 | 0.00 | 152,946,359 | 4,506 |
5. To re-appoint Alec Carstairs as a director. | 152,946,161 | 100.00 | 198 | 0.00 | 152,946,359 | 4,506 |
6. To declare a final dividend. | 152,950,865 | 100.00 | 0 | 0.00 | 152,950,865 | 0 |
7. To confer on the Directors authority to allot securities in accordance with Section 551 of the Companies Act 2006. | 152,941,984 | 100.00 | 1,696 | 0.00 | 152,943,680 | 7,185 |
8. To confer on the Directors power to allot securities under a disapplication of Section 561 of the Companies Act 2006. | 148,869,637 | 97.34 | 4,074,043 | 2.66 | 152,943,680 | 7,185 |
9. To authorise the Company to make market purchases of its own shares for the purposes of Sections 693 and 701 of the Companies Act 2006. | 152,949,518 | 100.00 | 1,347 | 0.00 | 152,950,865 | 0 |
10. To adopt new articles of association. | 152,945,492 | 100.00 | 867 | 0.00 | 152,946,359 | 4,506 |
A vote withheld is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" and "Against" any resolution.
The Company notes it received 4,074,043 votes against Resolution 8. Although this was less than 3% of the total votes cast, the board acknowledges that it is more than 20% of the independent votes cast in respect of Resolution 8. The board, through its advisors, has been in consultation with the largest shareholder voting against this resolution and understand that the requested authority to allot up to 20% of the Company's issued share capital, without the need to hold a shareholder meeting, or to first offer them to existing shareholders, was not something they were comfortable with.
As highlighted in the AGM Notice, RA International does not have any intention at the moment to utilise this authority, but it was requested to maintain future financial flexibility. The board continues to believe that it is in the best interests of RA International at this stage of the Company's journey. However, the board will keep the level of this authority under review and continue to bear in mind the views of shareholders in the utilization of these share authorities.
Enquiries:
RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
| Via Bamburgh Capital |
Canaccord Genuity Limited (Nominated Adviser and Broker) Bobbie Hilliam Alex Aylen
| +44 (0)207 523 8000 |
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery
| +44 (0)191 249 7442 investors@raints.com |
About RA International
RA International is a leading provider of services to remote locations in Africa and the Middle East. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services three main client groups: humanitarian and aid agencies, governments and commercial customers, predominantly in the oil and gas and mining sectors. It has a strong customer base, largely comprising UN agencies, western governments and global corporations.
The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.