22 May 2019 12:30
For immediate release | 22 May 2019 |
SPORTECH PLC
('Sportech' or the 'Company')
Result of Annual General Meeting
Sportech, the international betting technology business, announces that at the Company's Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed and approved on a show of hands at the meeting. The results of the proxy voting position received in advance of the meeting are reported below:
Resolution | For | Against | Withheld | Total votes cast | ||
No. of votes | % | No. of votes | % | |||
1. Ordinary Resolution - to approve the Annual Report and Accounts
| 122,815,622
| 99.99
| 5,240 | 0.01 | 238 | 122,821,100
|
2. Ordinary Resolution - to approve the Directors' Remuneration Report
| 76,372,106
| 66.67
| 38,178,895
| 33.33
| 8,270,099
| 122,821,100
|
3. Ordinary Resolution - to re-elect Richard McGuire as a Director
| 105,688,433
| 86.05
| 17,131,113
| 13.95
| 1,554
| 122,821,100
|
4. Ordinary Resolution - to re-elect Giles Vardey as a Director
| 78,593,895
| 68.61
| 35,955,869
| 31.39
| 8,271,336
| 122,821,100
|
5. Ordinary Resolution - to elect Thomas Hearne as a Director
| 122,814,306
| 99.99
| 5,240
| 0.01
| 1,554
| 122,821,100
|
6. Ordinary Resolution - to elect Christian Rigg as a Director
| 122,784,694
| 99.97
| 34,852
| 0.03
| 1,554
| 122,821,100
|
7. Ordinary Resolution - to re-elect PricewaterhouseCoopers LLP as auditors
| 113,590,810
| 99.97
| 33,339
| 0.03
| 9,196,951
| 122,821,100
|
8. Ordinary Resolution - to authorise the Directors to determine the auditor's fees
| 122,814,306
| 99.99
| 3,475
| 0.01
| 3,319
| 122,821,100
|
9. Ordinary Resolution - to authorise the Company to make political donations
| 117,868,276
| 99.97
| 4,952.586
| 4.03
| 238
| 122,821,100
|
10. Ordinary Resolution - To authorise the Directors to allot shares
| 122,476,568
| 99.72
| 342,819
| 0.28
| 1,713
| 122,821,100
|
11. Special Resolution - To authorise the Directors to disapply pre-emption rights (general authority)
| 122,476,568
| 99.72
| 342,819
| 0.28
| 1,713
| 122,821,100
|
12. Special Resolution - To disapply pre-emption rights (specific capital investment)
| 122,476,568
| 99.72 | 342,819 | 0.28 | 1,713 | 122,821,100
|
13. Special Resolution - To authorise the Directors to make market purchases of the Company's own Ordinary shares.
| 122,814,306
| 99.99
| 5,319
| 0.01
| 1,475
| 122,821,100
|
14. Special Resolution - To authorise calling of a general meeting other than annual general meetings on 14 clear days' notice.
| 122,231,448
| 99.52
| 589,414
| 0.48
| 238
| 122,821,100
|
Notes:
A vote withheld is not a vote in law and is not counted in the calculation of the percentage of the votes validly cast for or against a resolution.
All resolutions put to the meeting were carried.
As at the time of the meeting, the Company had 188,751,257 ordinary shares of 0.20 pence each in issue and as such this has been used to calculate the percentage of votes in favour or against each resolution. Each of these shares carry one vote. The Company held no shares in treasury.
Statement regarding voting results
The Board notes that although resolutions 2 and 4 were passed with the necessary majority, around 30% of votes received were against these resolutions. Whilst the Remuneration Committee and the Board as a whole understand shareholder concerns around the level of remuneration, the Board supports unanimously the Company's current Remuneration Policy. The Remuneration Committee and the Board will continue to respond to shareholder concerns and engage fully with the shareholders on remuneration matters.
Notice of resolutions passed
Copies of the resolutions passed as special resolutions at the AGM will shortly be available for inspection at the National Storage Mechanism, which is located at: http://www.morningstar.co.uk/uk/nsm. Appropriate filings will also be made at Companies House in due course.
Publication on website
A copy of this announcement and he proxy figures for the resolutions is also available on the Company's website at www.sportechplc.com.
- Ends -
Contacts:
Sportech PLC | Tel: +44 (0) 20 7466 5000 |
Richard McGuire, Executive Chairman Ben Harber, Company Secretary |
Tel: +44 (0) 20 7264 4366 |
Peel Hunt | Tel: +44 (0) 20 7418 8900 |
(Corporate Broker to Sportech) Dan Webster / George Sellar / Guy Pengelley | |
Buchanan | Tel: +44 (0) 20 7466 5000 |
(Financial PR adviser to Sportech) Henry Harrison-Topham / Mark Court / Jamie Hooper | sportech@buchanan.uk.com |
Notes to Editors
About Sportech
Sportech PLC, listed on the London Stock Exchange, provides and operates technology solutions for some of the world's best-known gaming companies, sports teams, horse and greyhound racetracks, as well as owning and operating its own gaming venues in Connecticut, USA under exclusive licences.
The Group is an international betting technology business focused on highly regulated markets worldwide. It has more than 27,000 betting terminals deployed to over 400 clients, across 37 countries including those in the USA, where it operates under 35 licences, across 37 States and processes approximately US$12 billion of bets annually. The Group has invested over US$60 million in developing its technology services to clients and the successful expansion of its leading US gaming Venues in the last five years, resulting in its proprietary Quantum™ product being the most widely deployed pari-mutuel betting system globally.