2022 AGM Update Statement

RNS Number : 3588F

Reach PLC

04 November 2022

 

4 November 2022

Reach plc

("Reach" or the "Company")

2022 Annual General Meeting - Update Statement

Reach is providing its update in accordance with the requirement of Provision 4 of the UK Corporate Governance Code 2018.

In its 2022 Annual General Meeting ("AGM") results announcement on 5 May 2022, the Company reported that all resolutions were passed.  The total votes in favour of resolution 17 concerning the further disapplication of pre-emption rights were 76.71%.

In view of the 23.29% vote against the further disapplication of pre-emption rights, most of the votes against this resolution were received from one major shareholder. The Company has engaged with the shareholder, and the rationale for voting against was due to its governance policies restricting its ability to support this resolution although the Company's authorities are consistent with prevailing UK market practice and both the Investment Association's Share Capital Management Guidelines and the Pre-Emption Group's Statement of Principles.

The Company will continue to engage with any shareholders for whom this authority present concerns and will keep the level of the authority sought under review.

Enquiries: 

Reach
Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary		[e-mail]
Tulchan
David Allchurch /Giles Kernick		020 7353 4200 [e-mail]
LEI:  213800GNI5XF3XOATR61 Classification:   3.1 Additional regulated information required to be disclosed under the laws of a Member State

 

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