Last checked at 5 May 2022 15:00
5 May 2022
Reach plc
Results of Annual General Meeting ("AGM")
In accordance with the arrangements announced on 25 March 2022, the AGM of Reach plc (the "Company") was held today at 11.00am at Numis' Offices, 45 Gresham Street, London, EC2V 7BF.
All valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. Resolutions 1 to 15 and 19 and 21 were passed as ordinary resolutions and resolutions 16 to 18 and 20 were passed as special resolutions. The results of the poll are set out below.
The Directors note that while a significant majority of shareholders voted at the Annual General Meeting supported resolution 17, they are disappointed that certain shareholders together holding some 23.29% of the share capital opposed the resolution. The Directors intend to engage with shareholders to obtain feedback on their concerns and will publish an update on that engagement within six months of the date of the Annual General Meeting in accordance with the UK Corporate Governance Code, with a summary to be included in the Company's annual report for the financial year ending 25 December 2022.
Resolution 17 followed the provisions of the Pre-Emption Group's Statement of Principles for the disapplication of pre-emption rights for an additional 5% authority and reflects UK listed company market practice. The Directors consider the flexibility afforded by this additional pre-emption rights authority to be in the best interests of the Company.
|
| VOTESFOR | % | VOTESAGAINST | % | VOTESCAST | % of ISC VOTED | VOTESWITHHELD |
1 | Annual Report and Accounts | 260,854,171 | 99.99 | 16,678 | 0.01 | 260,870,849 | 82.80% | 198,293 |
2 | Remuneration Report | 239,922,305 | 92.47 | 19,527,586 | 7.53 | 259,449,891 | 82.35% | 1,619,257 |
3 | Dividend | 261,001,535 | 99.98 | 60,067 | 0.02 | 261,061,602 | 82.86% | 7,540 |
4 | Re-elect Nick Prettejohn | 248,565,225 | 98.57 | 3,603,679 | 1.43 | 252,168,904 | 80.04% | 8,900,238 |
5 | Re-elect Jim Mullen | 258,196,804 | 98.91 | 2,848,583 | 1.09 | 261,045,387 | 82.85% | 23,755 |
6 | Re-elect Simon Fuller | 260,591,932 | 99.83 | 453,523 | 0.17 | 261,045,455 | 82.85% | 23,687 |
7 | Re-elect Anne Bulford | 259,261,165 | 99.32 | 1,784,359 | 0.68 | 261,045,524 | 82.85% | 23,618 |
8 | Re-elect Steve Hatch | 259,256,006 | 99.32 | 1,783,805 | 0.68 | 261,039,811 | 82.85% | 29,331 |
9 | Re-elect David Kelly | 259,254,552 | 99.31 | 1,788,573 | 0.69 | 261,043,125 | 82.85% | 26,017 |
10 | Re-elect Helen Stevenson | 259,247,744 | 99.31 | 1,796,432 | 0.69 | 261,044,176 | 82.85% | 24,966 |
11 | Re-elect Olivia Streatfeild | 245,166,327 | 93.92 | 15,877,239 | 6.08 | 261,043,566 | 82.85% | 25,576 |
12 | Elect Barry Panayi | 260,531,470 | 99.80 | 513,003 | 0.20 | 261,044,473 | 82.85% | 24,669 |
13 | Re-Appoint PricewaterhouseCoopers LLP | 256,966,265 | 98.43 | 4,090,949 | 1.57 | 261,057,214 | 82.86% | 11,928 |
14 | Auditors' remuneration | 261,025,763 | 99.99 | 28,149 | 0.01 | 261,053,912 | 82.86% | 15,230 |
15 | Allot shares | 245,808,003 | 94.16 | 15,247,561 | 5.84 | 261,055,564 | 82.86% | 13,578 |
16 | Disapplication of pre-emption rights | 246,862,091 | 94.57 | 14,180,502 | 5.43 | 261,042,593 | 82.85% | 26,549 |
17 | Further disapplication of pre-emption rights | 200,243,132 | 76.71 | 60,798,613 | 23.29 | 261,041,745 | 82.85% | 27,397 |
18 | Purchase of own shares | 256,905,072 | 98.43 | 4,106,128 | 1.57 | 261,011,200 | 82.84% | 57,942 |
19 | Political donations | 244,189,177 | 93.54 | 16,855,604 | 6.46 | 261,044,781 | 82.85% | 24,361 |
20 | Notice for General Meetings | 258,642,494 | 99.07 | 2,416,244 | 0.93 | 261,058,738 | 82.86% | 10,404 |
21 | Approve Reach Senior Manager Incentive Plan | 246,669,244 | 94.49 | 14,371,802 | 5.51 | 261,041,046 | 82.85% | 28,096 |
Notes:
1. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.
2. The issued share capital figure used to calculate the percentage voted is 315,064,281. This is the figure as at the close of business on 3 May 2022 and excludes the number of ordinary shares held in treasury at that date.
In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority (FCA), a copy of the resolutions passed as Special Business at the AGM have been submitted to the UK Listing Authority and will be available for public inspection at the National Storage Mechanism (NSM) https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Enquiries |
| ||
Reach plc |
| ||
Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary
| 020 7293 3000 | ||
|
| ||
Tulchan Communications |
| ||
Giles Kernick | 020 7353 4200 | ||
|
| ||
LEI: 213800GNI5XF3XOATR61 Classification: 3.1 Additional Information |
| ||