17:05 Thu 25 Jun 2020
Lamprell plc - Result of AGM 2020
("Lamprell" or the "Company", and with its subsidiaries the "Group")
RESULTS OF 2020 AGM
The Company held its 2020 Annual General Meeting today at
Resolution no |
Resolution |
TOTAL SHARES VOTED |
FOR/ DISCRETION |
% |
AGAINST |
% |
WITHHELD |
||||
|
Ordinary Business |
|
|
|
|
|
|
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1 |
2019 Report and Accounts |
260,480,393 |
259,517,608 |
99.6 |
962,785 |
0.4 |
2,312 |
||||
2 |
2019 Annual Report on Remuneration |
260,481,705 |
204,614,733 |
78.6 |
55,866,972 |
21.4 |
1,000 |
||||
3 |
Re-elect |
260,482,705 |
257,246,510 |
98.8 |
3,236,195 |
1.2 |
0 |
||||
4 |
Re-elect |
260,482,705 |
260,469,825 |
99.9 |
12,880 |
<0.1 |
0 |
||||
5 |
Re-elect |
260,482,705 |
260,469,825 |
99.9 |
12,880 |
<0.1 |
0 |
||||
6 |
Re-elect |
205,592,108 |
205,579,228 |
99.9 |
12,880 |
<0.1 |
54,890,597 |
||||
7 |
Re-elect |
92,418,817 |
92,396,937 |
99.9 |
12,880 |
<0.1 |
54,890,597 |
||||
8 |
Re-elect |
205,591,852 |
204,338,868 |
99.4 |
1,252,984 |
0.6 |
54,890,853 |
||||
9 |
Re-elect |
92,409,561 |
91,156,577 |
98.6 |
1,252,984 |
1.4 |
54,890,853 |
||||
10 |
Re-elect |
205,592,108 |
203,376,339 |
98.9 |
2,215,769 |
1.1 |
54,890,597 |
||||
11 |
Re-elect |
92,409,817 |
91,434,152 |
98.9 |
975,665 |
1.1 |
54,890,597 |
||||
12 |
Re-appoint |
260,480,393 |
260,478,825 |
99.9 |
1,568 |
<0.1 |
2,312 |
||||
13 |
Authorise the |
260,480,393 |
260,478,825 |
99.9 |
1,568 |
<0.1 |
2,312 |
||||
|
Special Business |
|
|
|
|
|
|
||||
14 |
Authorise the directors to allot shares pursuant to Article 5.1 |
260,470,783 |
205,556,237 |
78.9 |
54,914,546 |
21.1 |
11,922 |
||||
15 |
Pre-emption rights pursuant to Article 5.2 |
260,471,705 |
205,568,436 |
78.9 |
54,903,269 |
21.1 |
11,000 |
||||
16 |
Directors' authority to make market purchases of its own shares |
260,482,705 |
259,483,873 |
99.6 |
998,832 |
0.4 |
0 |
||||
17 |
Amending the Articles of Association |
260,482,449 |
260,480,137 |
99.9 |
2,312 |
<0.1 |
256 |
||||
Notes:
1. Any proxy appointments which gave discretion to the Chairman have been included in the 'FOR' total.
2. A 'VOTE WITHHELD' is not a vote in law and is not counted in the calculation of the proportion of votes for or against a resolution and is not included in the total proxy votes received for each resolution.
3. Number of ordinary shares of
4. The Controlling Shareholder (as defined in the AGM Notice) was not eligible to vote on resolutions 7, 9 and 11. Voting on resolutions 7, 9 and 11 was by Independent Shareholders (as defined in the AGM Notice) only. The Controlling Shareholder holds a total of 113,182,291 Ordinary Shares, equating to 33.12% of the issued ordinary share capital with voting rights.
5. The Board would like to thank its shareholders for their engagement and support ahead of the AGM and throughout the year. While most of the resolutions were passed with very significant majorities, the Board notes that Resolutions 2, 14 and 15 (i.e. against the 2019 DRR and to authorise the Directors to make allotments of shares), were passed with around 21% of votes cast against them. The Board is disappointed with the outcome and acknowledges the views and concerns voiced by a major shareholder with whom the non-executive Chairman and CEO have engaged ahead of this meeting. While the Board has an understanding of the concerns raised by the shareholder, the Board considers that the vote against the Resolutions does not accurately reflect those concerns. Resolution 2 was an advisory vote and Resolutions 14 and 5 were proposed in accordance with routine practice for
Copies of the resolutions passed as Special Business will be submitted to the National Storage Mechanism and will be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
- Ends -
Enquiries:
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+44 (0) 207 353 4200 |
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Notes to editors
Lamprell, based in the
Lamprell employs more than 4,000 people across multiple facilities, with its primary facilities located in Hamriyah, in the
Lamprell is listed on the
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