Results of General Meeting

Logistics Development Group PLC

04 September 2024

 

4 September 2024

Logistics Development Group plc

(or "LDG" or the "Company")

Results of General Meeting

LDG announces that, at a general meeting of the Company's shareholders held earlier today (the "General Meeting"), Resolution 1, as set out in the Notice of General Meeting dated 13 August 2024, was duly passed by shareholders by way of a poll. Resolution 2 was not passed.

As a result of the Waiver Resolution not passing, the Company will not be implementing the Share Buyback as contemplated in the circular to shareholders dated 13 August 2024 (the "Circular").

Full details of the voting at the General Meeting are set out in the table below.

Voting at the General Meeting

The results of the poll are set out below.

No.	Resolution	In favour		Against		Total votes cast as a % of issued share capital	Votes withheld
		Votes	%	Votes	%
1.	Share Buyback Resolution	176,986,267	80.38	43,191,483	19.62	41.99	56,253,562
2.	Waiver Resolution	15,712,793	13.64	99,484,489	86.36	21.97	167,849,343

The full text of the resolutions above are set out in the Notice of General Meeting dated 13 August 2024.

As at 3 September 2024, the Company's issued share capital consisted of 524,350,394 ordinary shares, carrying one vote per share, with no LDG shares held by the Company in treasury. In accordance with LDG's Articles of Association, on a poll every member present in person or by proxy has one vote for every LDG share held.

In accordance with the terms of the Panel Waiver, only Independent Shareholders were entitled to vote on the Waiver Resolution. Therefore, any votes by members of the Concert Party in respect of the Waiver Resolution were not taken into account. Votes withheld are not votes in law and therefore have not been counted in the calculation of the proportion of the votes for and against any resolution. Link Group was appointed as the scrutineer for vote-taking at the General Meeting.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Circular.

For enquiries:

Logistics Development Group plc	Via FTI Consulting
FTI Consulting Nick Hasell Alex Le May	[phone]
Strand Hanson Limited (Financial and Nominated Adviser) James Spinney Richard Johnson Abigail Wennington	[phone]
Investec Bank plc (Broker) Gary Clarence Harry Hargreaves	[phone]

 

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