Result of AGM

RNS Number : 5019K

Reach PLC

05 May 2022

 

5 May 2022

Reach plc

Results of Annual General Meeting ("AGM")

In accordance with the arrangements announced on 25 March 2022, the AGM of Reach plc (the "Company") was held today at 11.00am at Numis' Offices, 45 Gresham Street, London, EC2V 7BF.

All valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. Resolutions 1 to 15 and 19 and 21 were passed as ordinary resolutions and resolutions 16 to 18 and 20 were passed as special resolutions. The results of the poll are set out below.

The Directors note that while a significant majority of shareholders voted at the Annual General Meeting supported resolution 17, they are disappointed that certain shareholders together holding some 23.29% of the share capital opposed the resolution. The Directors intend to engage with shareholders to obtain feedback on their concerns and will publish an update on that engagement within six months of the date of the Annual General Meeting  in accordance with the UK Corporate Governance Code, with a summary to be included in the Company's annual report for the financial year ending 25 December 2022.

Resolution 17 followed the provisions of the Pre-Emption Group's Statement of Principles for the disapplication of pre-emption rights for an additional 5% authority and reflects UK listed company market practice. The Directors consider the flexibility afforded by this additional pre-emption rights authority to be in the best interests of the Company.

		VOTES FOR	%	VOTES AGAINST	%	VOTES CAST	% of ISC VOTED	VOTES WITHHELD
1	Annual Report and Accounts	260,854,171	99.99	16,678	0.01	260,870,849	82.80%	198,293
2	Remuneration Report	239,922,305	92.47	19,527,586	7.53	259,449,891	82.35%	1,619,257
3	Dividend	261,001,535	99.98	60,067	0.02	261,061,602	82.86%	7,540
4	Re-elect Nick Prettejohn	248,565,225	98.57	3,603,679	1.43	252,168,904	80.04%	8,900,238
5	Re-elect Jim Mullen	258,196,804	98.91	2,848,583	1.09	261,045,387	82.85%	23,755
6	Re-elect Simon Fuller	260,591,932	99.83	453,523	0.17	261,045,455	82.85%	23,687
7	Re-elect Anne Bulford	259,261,165	99.32	1,784,359	0.68	261,045,524	82.85%	23,618
8	Re-elect Steve Hatch	259,256,006	99.32	1,783,805	0.68	261,039,811	82.85%	29,331
9	Re-elect David Kelly	259,254,552	99.31	1,788,573	0.69	261,043,125	82.85%	26,017
10	Re-elect Helen Stevenson	259,247,744	99.31	1,796,432	0.69	261,044,176	82.85%	24,966
11	Re-elect Olivia Streatfeild	245,166,327	93.92	15,877,239	6.08	261,043,566	82.85%	25,576
12	Elect Barry Panayi	260,531,470	99.80	513,003	0.20	261,044,473	82.85%	24,669
13	Re-Appoint PricewaterhouseCoopers LLP	256,966,265	98.43	4,090,949	1.57	261,057,214	82.86%	11,928
14	Auditors' remuneration	261,025,763	99.99	28,149	0.01	261,053,912	82.86%	15,230
15	Allot shares	245,808,003	94.16	15,247,561	5.84	261,055,564	82.86%	13,578
16	Disapplication of pre-emption rights	246,862,091	94.57	14,180,502	5.43	261,042,593	82.85%	26,549
17	Further disapplication of pre-emption rights	200,243,132	76.71	60,798,613	23.29	261,041,745	82.85%	27,397
18	Purchase of own shares	256,905,072	98.43	4,106,128	1.57	261,011,200	82.84%	57,942
19	Political donations	244,189,177	93.54	16,855,604	6.46	261,044,781	82.85%	24,361
20	Notice for General Meetings	258,642,494	99.07	2,416,244	0.93	261,058,738	82.86%	10,404
21	Approve Reach Senior Manager Incentive Plan	246,669,244	94.49	14,371,802	5.51	261,041,046	82.85%	28,096

Notes:

1.  A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.

2.  The issued share capital figure used to calculate the percentage voted is 315,064,281.  This is the figure as at the close of business on 3 May 2022 and excludes the number of ordinary shares held in treasury at that date.

In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority (FCA), a copy of the resolutions passed as Special Business at the AGM have been submitted to the UK Listing Authority and will be available for public inspection at the National Storage Mechanism (NSM) https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

Enquiries
Reach plc
Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary		020 7293 3000
Tulchan Communications
Giles Kernick		020 7353 4200
LEI: 213800GNI5XF3XOATR61 Classification: 3.1 Additional Information

 

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