Result of AGM

RNS Number : 5296W

CML Microsystems PLC

01 August 2018

 

CML Microsystems Plc

Results of the 2018 Annual General Meeting

CML Microsystems Plc, ("CML", "Company" or "the Group"), which designs, manufactures and markets mixed-signal and Radio Frequency (RF) semiconductors, primarily for global communication and solid state storage markets, today held its Annual General Meeting ("AGM") at 11.00am, Wednesday 1 August 2018.  All resolutions put to the shareholders as set out in the Notice of AGM dated 22 June 2018 were passed with the requisite majorities on a show of hands. Details of the proxy and CREST votes cast are as follows:

Resolution	For		%	Against	%	Withheld	%
1. To receive and adopt the Group's consolidated financial statements and reports of the Directors and auditor for the year ended 31st March 2018.	13,747,722		100.00	0	0.00	0	0.00
2. To receive and approve the Directors' Remuneration Report for the year ended 31st March 2018.	13,200,965		96.03	546,297	3.97	460	0.00
3. To declare a final dividend of 7.8p per 5p ordinary share for the year ended 31 March 2018.	13,747,722		100.00	0	0.00	0	0.00
4. To re-appoint N. B. Pritchard as Director, who retires from the Board by rotation.	13,745,722		99.99	0	0.00	2,000	0.01
5. To re-appoint J. A. Lindop as Director, who retires from the Board by rotation.	13,745,722		99.99	0	0.00	2,000	0.01
6. To send or supply all documents or information relating to the Company to members by making them available on a website.	13,747,262		100.00	0	0.00	460	0.00
7. To re-appoint RSM UK Audit LLP, as auditor of the Company.	13,699,722		99.65	46,000	0.34	2,000	0.01
8. To authorise the Directors to determine the remuneration of the auditor.	13,745,395		99.98	0	0.00	2,327	0.02
9. To authorise the Directors to allot shares.	13,742,918		99.97	304	0.00	4,500	0.03
10. To disapply the pre-emption provisions of The Companies Act 2006.	12,197,511		88.72	1,547,517	11.26	2,694	0.02
11. To disapply the pre-emption provisions of The Companies Act 2006 for the purposes of financing an acquisition or capital investment.	13,368,661		97.24	376,601	2.74	2,460	0.02
12. To renew the authority to the Company to make market purchases of its own shares.	13,743,222		99.97	2,500	0.02	2,000	0.01
CML Microsystems Plc Chris Gurry, Group Managing Director Neil Pritchard, Group Financial Director		www.cmlmicroplc.com Tel: [phone]
Cenkos Securities plc Max Hartley (Corporate Finance) Russell Kerr (Sales)		Tel: [phone]
SP Angel Corporate Finance LLP Jeff Keating		Tel: [phone]
Alma PR Josh Royston Caroline Forde Robyn Fisher		Tel: [phone] Tel: [phone] Tel: [phone]

About CML Microsystems PLC

CML designs and develops semiconductors for the industrial storage and communications markets. The Group utilises a combination of in-house and outsourced manufacturing and has trading operations in Europe, the Far East and USA. CML targets niche markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading telecoms equipment providers and industrial product manufacturers.

The spread of its customers and products largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the ever increasing trend towards solid state storage devices in the commercial and industrial sectors, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial communications networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no borrowings and is dividend paying.

 

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