2023 AGM Voting Update

De La Rue PLC

07 March 2024

 

7 March 2024 

De La Rue plc

2023 AGM voting update

In its 2023 Annual General Meeting results announcement on 7 September 2023, De La Rue plc noted that Resolution 15, in relation to the additional dis-application of pre-emption rights, did not receive sufficient support to be passed at the AGM and received over 20% of votes against.

The Board confirmed that the resolution was entirely in line with the Statement of Principles published by the Pre-Emption Group in November 2022 and the specific authority sought would have been limited to issuance of equity for cash in connection with an acquisition or specified capital investment. The Board was aware that at the time, market practice in relation to the dis-application of pre-emption rights had yet to settle on a consensus position, notwithstanding the Austin Review of secondary capital raising and the subsequent amendment of the Statement of Principles by the Pre-Emption Group.

Subsequent to the AGM, we have engaged with our largest shareholders to understand their views on this resolution, which included that the level of authority sought could result in inappropriate levels of dilution.

The Board will continue to consult with shareholders and will keep this matter under review in determining the authorities to be sought by shareholders at the 2024 AGM.

Enquiries

De La Rue plc		[phone]
Jon Messent		Company Secretary and General Counsel
Louise Rich		Head of Investor Relations

About De La Rue

Established 210 years ago, De La Rue is trusted by governments, central banks, and international brands, providing digital and physical solutions that protect their supply chains and cash cycles from counterfeiting and illicit trade.

With operations in five continents, customers in 140 countries and solutions that include advanced track and trace software, security document design, banknotes, brand protection labels, tax stamps, security features and passport bio-data pages, De La Rue brings unparalleled knowledge and expertise to its partnerships and projects.

Our core focus areas are:

- Authentication: leveraging advanced digital software solutions and security labels to protect revenues and reputations from the impacts of illicit trade, counterfeiting, and identity theft.

- Currency: designing and manufacturing highly secure banknotes and banknote components that are optimised for security, manufacturability, cash cycle efficacy and public engagement.

The security and trust derived from our solutions pave the way for robust economies and flourishing societies. This is underpinned by a significant Environmental, Social, and Governance commitment that is evidenced by accolades such as the ISO 14001 certification and a consistent ranking in the top tier of the Financial Times European Climate Leaders list.

De La Rue's shares are traded on the London Stock Exchange (LSE: DLAR). De La Rue plc's LEI code is 213800DH741LZWIJXP78. For further information please visit www.delarue.com.

 

END