Result of Meeting & Update on Share Buyback

Essentra plc

15 November 2023

 

15 November 2023

Essentra plc (the 'Company' or 'Essentra')

Results of General Meeting

and

Update on the Share Buyback Programme

Results of the General Meeting Merger Reserve Resolutions

Essentra are pleased to announce that at the Company's General Meeting held on 14 November 2023, the two resolutions proposed were duly voted upon by poll and were passed by shareholders. The resolutions allow Essentra to move its merger reserve from non-distributable reserves to distributable reserves, subject to Court sanction, as announced on 20 October 2023.

	Resolution	Votes For (Including discretionary votes)		Votes Against		Total Votes Cast (Excluding votes withheld)		Votes Withheld
		Number of shares	%	Number of shares	%	Number of shares	% of relevant shares in issue	Number of shares
1	Articles of Association	246,008,086	99.97	66,135	0.03	246,074,221	84.95	31,412
2	Company's Merger Reserve	246,007,822	99.97	67,505	0.03	246,075,327	84.96	30,306

The number of ordinary shares of 25 pence each ('Ordinary Shares') in issue at the close of business on 14 November 2023 (excluding 5,039,265 Ordinary Shares in treasury) was 289,653,603.

Any vote that gave the Chair discretion has been included in the 'For' votes. A vote withheld is not a vote in law and is not counted towards the votes cast 'For' or 'Against' a resolution.

Copies of the resolutions passed at the General Meeting will shortly be available for inspection on the National Storage Mechanism document viewing facility at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at www.essentraplc.com.

Update on the Share Buyback Programme

Essentra remains committed to returning a total of £60 million to investors through its ongoing share buyback programme (the "Share Buyback Programme"), which was launched on 29 March 2023. To date, Essentra has acquired 12,259,161 Ordinary Shares, of which 4,141,321 Ordinary Shares have been transferred into treasury, and 8,117,840 Ordinary Shares have been cancelled. To date, purchases made pursuant to the Share Buyback Programme total approximately £22.2 million.

The Share Buyback Programme was initially expected to conclude before 31 December 2023, however as a result of a disciplined focus on capital allocation requirements, including the acquisition of BMP TAPPI, the Share Buyback Programme is now expected to complete 31 December 2024.

The Share Buyback Programme will continue to be conducted in accordance with the general authority to repurchase Ordinary Shares, previously granted by the Company's shareholders at the 2023 Annual General Meeting (the "2023 Authority") and then subsequently be conducted in accordance with the general authority to be sought at the 2024 Annual General Meeting (the "2024 Authority"). The details of the 2023 Authority can be found on the Company's website at https://www.essentraplc.com/en/investors/shareholder-services/agm. The maximum number of Ordinary Shares that the Company is authorised to purchase under the 2023 Authority is 30,079,081. Upon expiry of the 2023 Authority, the maximum number of shares that the Company shall be authorised to purchase will be such number of Ordinary Shares as stated in the 2024 Authority.

Enquiries

Emma Reid, Company Secretary

T: 01908 359100 

 

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