4 May 2022 14:27
4 May 2022
Ten Entertainment Group plc
(the "Company")
Results of the Annual General Meeting ("AGM")
ALL RESOLUTIONS PASSED
At the Company AGM held earlier today, the board is pleased to confirm all resolutions were duly passed by shareholders. The following table sets out a breakdown of voting results.
Full details of the poll results are set out below and will also be available on the Company's website www.tegplc.co.uk
No | Resolution | Votes For | % | Votes Against | % | Total Votes Cast | % of ISC Voted | Votes Withheld | Independent Votes For | % |
1 | To receive the Directors' report and accounts for the Company for the year ended 26 December 2021 | 61,508,971 | 98.32% | 1,050,650 | 1.68% | 62,559,621 | 91.53% | 0 | ||
2 | To approve the Directors' Remuneration Report for the year ended 26 December 2021, excluding the Directors' Remuneration Policy, set out in the Annual Report | 51,974,834 | 83.08% | 10,584,787 | 16.92% | 62,559,621 | 91.53% | 0 | ||
3 | To elect Adam Bellamy as a Director | 61,298,068 | 97.99% | 1,260,553 | 2.01% | 62,558,621 | 91.53% | 1,000 | 50,602,841 | 97.57% |
4 | To re-elect Graham Blackwell as a Director | 54,671,229 | 88.88% | 6,837,392 | 11.12% | 61,508,621 | 89.99% | 1,051,000 | ||
5 | To elect Antony Smith as a Director | 54,671,229 | 88.88% | 6,837,392 | 11.12% | 61,508,621 | 89.99% | 1,051,000 | ||
6 | To elect Laura May as a Director | 62,552,059 | 99.99% | 7,562 | 0.01% | 62,559,621 | 91.53% | 0 | 51,856,832 | 99.99% |
7 | To re-elect Christopher Mills as a Director | 44,844,394 | 75.89% | 14,250,309 | 24.11% | 59,094,703 | 86.46% | 3,464,918 | ||
8 | To re-elect Julie Sneddon as a Director | 53,833,551 | 86.05% | 8,726,070 | 13.95% | 62,559,621 | 91.53% | 0 | 43,138,324 | 83.18% |
9 | To re-appoint PricewaterhouseCoopers LLP as auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting at which accounts are laid before the Company | 61,504,544 | 98.31% | 1,055,077 | 1.69% | 62,559,621 | 91.53% | 0 | ||
10 | To authorise the Directors to fix the remuneration of the auditors | 62,553,794 | 99.99% | 5,827 | 0.01% | 62,559,621 | 91.53% | 0 | ||
11 | To authorise the Directors to allot relevant securities | 55,462,260 | 88.66% | 7,094,565 | 11.34% | 62,556,825 | 91.53% | 2,796 | ||
12 | To authorise the Directors to disapply pre-emption rights up to an aggregate nominal amount of £34,183 | 54,422,171 | 88.48% | 7,084,654 | 11.52% | 61,506,825 | 89.99% | 1,052,796 | ||
13 | To authorise the Company to make market purchases of its own ordinary shares | 61,500,875 | 98.31% | 1,058,746 | 1.69% | 62,509,621 | 91.53% | 0 | ||
14 | To authorise the Directors to call a general meeting other than an annual general meeting on not less than 14 clear days' notice | 62,370,650 | 99.70% | 188,971 | 0.30% | 62,559,621 | 91.53% | 0 |
Notes:
1. Any proxy arrangement which gave discretion to the Chairman has been included in the "for" totals.
2. A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares 'For' or 'Against' any resolution. In accordance with Listing Rule 9.2.2, the votes of the shareholders and the independent shareholders are set out separately in the above table.
3. The number of shares in issue at 12.15pm on 2 May 2022 was 68,376,784 (the "Share Capital"). The Company does not hold any shares in treasury.
Resolution 7
The re-election of Christopher Mills received votes in favour of over 75%. Mr Mills has maintained a 100% attendance record at Board meetings since the IPO in 2017. The Board considers that Mr Mills' very broad experience and expertise helps ensure that the interests of the shareholders are considered appropriately in all decision making.
The Board is currently in the process of recruiting a further Independent Non-Executive Director to bring the Board independence level to 57%, or 50% excluding the Chairman in line with the UK Corporate Governance Code. The Board had previously delayed the recruitment of this position due to the impact of the Covid-19 pandemic. With the business having successfully reopened and returned to a strong balance sheet position, an additional Independent Non-Executive Director will be appointed during 2022.
In accordance with Listing Rule 9.6.2, copies of resolutions passed at the Annual General Meeting concerning items other than ordinary business will shortly be available for inspection on the National Storage Mechanism which can be accessed at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Enquiries:
Ten Entertainment Group plc via Instinctif Partners
Graham Blackwell, Chief Executive Officer
Antony Smith, Chief Financial Officer
Instinctif Partners Tel: 020 7457 2020
Matthew Smallwood
Penny Bainbridge