AGM Statement and trading update

Mothercare plc Annual General Meeting 9 September 2021: Results

At the annual general meeting held at 11.00am on 9 September 2021, the resolutions before the meeting were passed.

The following proxy votes had been received by the Company in respect of the resolutions:

	Resolution	Votes For	%	Votes Against	%	Votes total	% ISC	Votes withheld*
1	To receive the annual accounts, directors’ report, strategic report, directors’ remuneration report and auditor’s report	203,869,412	99.95	93,551	0.05	203,962,963	36.17	56,943,094
2	To approve the directors’ remuneration report	260,708,127	99.93	187,854	0.07	260,895,981	46.27	10,076
3	To re-elect Clive Whiley as a director	260,759,725	99.95	138,544	0.05	260,898,269	46.27	7,788
4	To re-elect Andrew Cook as a director	260,763,811	99.95	136,820	0.05	260,900,631	46.27	5,426
5	To re-elect Gillian Kent as a director	260,770,556	99.95	133,261	0.05	260,903,817	46.27	2,240
6	To re-elect Mark Newton-Jones as a director	260,750,617	99.94	151,700	0.06	260,902,317	46.27	3,740
7	To elect Brian Small as a director	260,759,837	99.95	142,360	0.05	260,902,197	46.27	3,860
8	Re-appoint auditors	260,834,415	99.97	66,964	0.03	260,901,379	46.27	4,678
9	Auditors remuneration	260,858,104	99.98	43,787	0.02	260,901,891	46.27	4,166
10	Authority for the directors to allot shares	260,568,545	99.87	333,071	0.13	260,901,616	46.27	4,441
11	To authorise political donations by the company and its subsidiaries	260,228,321	99.75	657,789	0.25	260,886,110	46.27	19,947
12	Authority to disapply pre-emption rights	260,733,467	99.93	170,579	0.07	260,904,046	46.27	2,011
13	Authority to further disapply pre-emption rights	260,757,057	99.94	147,487	0.06	260,904,544	46.27	1,513
14	Authority to purchase own shares	260,782,090	99.96	96,961	0.04	260,879,051	46.27	27,006

Resolutions 12 to 14 were Special Resolutions.

Notes

* A vote withheld is not a vote in law and is not counted in the calculation of votes ‘for’ and ‘against’ each resolution

As at 8 September 2021, the Company’s issued share capital and total voting rights consisted of 563,836,626 ordinary shares each carrying voting rights. There are no shares in treasury. As a result, proxy votes representing approximately 46% of the voting capital were cast for the AGM.

The full text of the resolutions can be found in the Notice of Meeting on the Company’s website, www.mothercareplc.com.

Trading Update

Whilst we still anticipate that the steady state operation of our existing retail franchise operations, in more normal circumstances, should exceed annual operating profits of £15 million, the Group has continued to be impacted by Covid-19 during this financial year. For the first 21 weeks of our current financial year to March 2022 our total retail sales were £136 million, generating an adjusted EBITDA of approximately £4.0 million representing a significant improvement over the adjusted EBITDA of £2.2 million reported for the year ended 27 March 2021.

Further details:    

Investor and analyst enquiries to:

Mothercare plc                                Email: [e-mail]

Clive Whiley, Chairman

Andrew Cook, Chief Financial Officer

Numis Securities Limited                 Tel: [phone]

(Nominated Advisor & Joint Corporate Broker)         

Luke Bordewich

Henry Slater

finnCap (Joint Corporate Broker)        Tel: [phone]

Christopher Raggett

Media enquiries to:

MHP Communications                       Email: [e-mail]

Simon Hockridge                        Tel: [phone]

Alistair de Kare-Silver

The trading information contained within this announcement is deemed by the Company to constitute inside information and upon publication this inside information is now considered to be in the public domain.

The person responsible for the release of this announcement is Lynne Medini, Group Company Secretary.